Commercial Greenhouse Market Worth $37.8 Bn by 2024
According to the latest report by IMARC Group titled, “Commercial Greenhouse Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, The global commercial greenhouse market reached a value of US$ 23.7 Billion in 2018. Commercial greenhouses provide a stable and highly controlled environment for the cultivation of plants. They are generally made from plastic or glass that aids in transmitting ultraviolet and infrared radiation. As the temperature in commercial greenhouses varies depending on the plants and season, various ventilation equipment are employed for regulating the internal temperature and humidity. For instance, gas and electric heaters are used to maintain the required temperature during winters, while circulation fans and evaporator coolers are utilized during summers. IMARC Group expects the market to reach a value of US$ 37.8 Billion by 2024, exhibiting a CAGR of around 8% during 2019-2024.
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The ability of commercial greenhouses to produce higher yield as compared to conventional farming techniques represents one of the primary factors driving the global commercial greenhouse market growth. Apart from this, on account of rapid urbanization and the increasing global population, there is a rise in food demand. However, the declining arable land is creating a challenge to meet this requirement. These factors, in confluence with the increasing frequency of storms, cyclones and rains, are collectively strengthening the market growth. Moreover, the growing trend of rooftop farming and increasing government initiatives are further boosting the market growth.
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Key Market Segmentation:
Breakup by Type
1. Free-standing Greenhouses
2. Gutter-connected Greenhouses
Breakup by Material Used
1. Glass Green House
2. Plastic Green House
Breakup by Technology
1. Heating System
2. Cooling System
Breakup by Crop
1. Fruits and Vegetables
2. Flowers and Ornamentals
3. Nursery Crops
Breakup by Region
1. North America
3. Asia- Pacific
4. Latin America
5. Middle East and Africa
The report has also examined the competitive landscape of global Commercial Greenhouse Market. Some of the major players in the market are Richel Group SA, Certhon, Argus Control System Ltd, Logiqs, Lumigrow, Keder Greenhouse, Agra Tech Inc, Hort Americas, Heliospectra AB, etc.
Key highlights of the report:
1. Market Performance
2. Market Outlook
3. Porter’s Five Forces Analysis
4. Market Drivers and Success Factors
5. SWOT Analysis
6. Value Chain
7. Competitive Structure
8. Profiles of Key Players
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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