ENVIRONMENT CONTROLLERS MARKET FOR AGRICULTURAL GREENHOUSE TO EXCEED VALUATION OF US$ 7.65 BN BY 2031
Environment
Controllers Market for Agricultural Greenhouse: Introduction
Transparency
Market Research delivers key insights on the global environment controllers market for
agricultural greenhouse.
In terms of revenue, the global environment controllers market for agricultural
greenhouse is estimated to expand at a CAGR of 21.98% during
the forecast period, owing to numerous factors regarding which TMR offers
thorough insights and forecasts in its report on the global environment
controllers market for agricultural greenhouse.
The
global environment controllers market for agricultural greenhouse has been
positively impacted by the rise in the demand for these environment controllers
in vertical farming across the globe.
Environment
Controllers Market for Agricultural Greenhouse: Dynamics
The
demand for environment controllers has been rising in hydroponics, greenhouse,
indoor gardening, and urban agriculture since the past few years, as these
environment controllers maintain the desired environment in agricultural
greenhouse. This is expected to boost the global environment controllers market
for agricultural greenhouse.
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Investments
in the global vertical farming have been rising significantly. For instance,
the U.S. held a major share of the environment controllers market for
agricultural greenhouse in 2020.
The growth of the market in the U.S. can be primarily ascribed to the
government funding in development of urban agriculture projects. In the 2018 U.S. Farm
Bill, an annual allotment of US$ 10 Mn
was established to develop an office of urban agriculture and supporting
projects. This is expected to boost the demand for environment controllers for
agricultural greenhouse.
Environment
Controllers Market for Agricultural Greenhouse: Prominent Regions
In
terms of value, North America is a lucrative region of the global environment
controllers market for agricultural greenhouse. North America held a major
share of the global environment controllers market for agricultural greenhouse
in 2020,
due to the presence of numerous indoor farming companies across the region,
primarily in the U.S. For instance, Plenty, AeroFarms, and BOWERY FARMING INC.
are some of the key indoor farming companies operating in the region. These
companies are making significant investments toward the development of vertical
farm projects. Plenty raised US$ 401 Mn
in funding with financial institution such as SoftBank, Alphabet Chairman Eric
Schmidt, and Amazon CEO Jeff Bezos. The U.S.-based start-ups AeroFarms and
Bowery Farming have raised US$ 238 Mn
and US$ 167.5 Mn,
respectively.
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The
environment controllers market for agricultural greenhouse in Europe is
expanding at a rapid pace due to the expansion of the vertical farming
industry, primarily in Germany, the U.K., France, and the Netherlands. In
vertical farming, environment controllers are used to maintain the desired
environmental conditions. In Europe, two international nonpro?t industry
associations — the Association for Vertical Farming (AVF) and the Farm Tech
Society (FTS) — have been introduced to promote the vertical farming industry.
These associations aim to provide an international network for professionals,
establish standards, and advocate policies to facilitate the growth of the
vertical farming industry. Besides these, they work on the development of
industry-certi?ed vocational training for professionals whose ambition is to
work in vertical farming.
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Report with TOC
The
environment controllers market for agricultural greenhouse in Asia Pacific is
expected to witness significant growth during the forecast period due to the
rapidly rising demand for food among the burgeoning urban population. Leading
countries in the market in Asia are Japan, China, Singapore, South Korea,
Taiwan, and Thailand. Japan held key share of the environment controllers market
for agricultural greenhouse in Asia Pacific in 2020 due to
the presence of large numbers of vertical farming projects across the country.
As of 2019,
Japan had more than 200 vertical farms that focused on producing vegetables.
Half of them used LEDs for indoor farming.
Environment
Controllers Market for Agricultural Greenhouse: Key Players
Key
players operating in the global environment controllers market for agricultural
greenhouse are SmartBee Technology, Inc., TrolMaster, Growlink, Trotec GmbH,
Argus Control Systems Limited, Certhon, Link4 Corporation, Rough Brothers,
Inc., Climate Control Systems Inc., and Netafim.
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