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.
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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.
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.
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.
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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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