 |
| Commercial Greenhouse Market Scope |
The global Commercial Greenhouse Market is estimated to be valued at US$ 44.99 Bn in 2023 and is expected to
exhibit a CAGR of 6.2% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Commercial greenhouses are glassed frameworks used for growing plants, flowers
and vegetables under controlled environmental conditions. aThey provide the
necessary light, temperature, humidity and carbon dioxide levels ideal for
optimum plant growth. Commercial greenhouses boast higher productivity compared
to outdoor farming as they are not dependent on weather conditions. They allow
growers to produce high quality crops year-round meeting the growing demands
for fresh produce. With rising adoption of technologically advanced hydroponics
and aeroponics techniques, commercial greenhouses also help minimize resource
use and maximize yields.
Market key trends:
The increasing trend of automation in commercial greenhouses is a major factor
driving the market growth. Automation helps optimize environmental parameters
like light, temperature, humidity and irrigation using sensors, controls and
software programs. This results in higher production rates, consistency in crop
quality and reduced labor costs. Another key trend is the rising popularity of
Internet of Things (IoT) enabled greenhouses. IoT-based control systems enable
remote monitoring of crops and growing conditions from smartphones. They also
facilitate data analysis for informed decision making. Furthermore, increasing
R&D towards development of technologically advanced greenhouses with
renewable energy integration, predictive analytics and computer vision is
poised to open new lucrative opportunities in the coming years.
Porter's Analysis
Threat of new entrants: The Commercial
Greenhouse Market Scope has moderate threat of new entrants due to high
initial capital investment requirements for establishment of commercial
greenhouses.
Bargaining power of buyers: Buyers have moderate bargaining power due to
availability of product substitutes. However, demand for locally grown
pesticide-free foods increases their dependence on commercial greenhouses.
Bargaining power of suppliers: The suppliers of greenhouse equipment and
technology have moderate bargaining power due to low differentiation in their
products. This results in availability of multiple substitutable supplier
options.
Threat of new substitutes: The threat of substitutes is low as produce grown
using other methods cannot completely replace those grown in greenhouses.
Outdoor farming is prone to extreme climate variations.
Competitive rivalry: The commercial greenhouse market experiences high
competitive rivalry due to presence of numerous global and regional players
competing on basis of technology, automation, and product quality.
Key Takeaways
The global commercial greenhouse market is expected to witness high growth,
exhibiting CAGR of 6.2% over the
forecast period, due to increasing demand for off-seasonal crops and
vegetables. The market size for 2023 is estimated to reach US$ 44.99 Bn.
Regional analysis: Europe dominates the global commercial greenhouse market and
is expected to continue its dominance, owing to high tech manufacturing base
and growing focus on urban farming practices. Asia Pacific exhibits fastest
growth due to increasing greenhouse cultivation in China, India, and Japan.
Key players analysis: Key players operating in the commercial greenhouse market
are Richel Group, Argus Control Systems Ltd, Rough Brothers Inc., Certhon,
Logiqs BV, Lumigrow Inc., Nexus Corporation, Hort Americas, Heliospectra AB, and
Agra Tech Inc. Richel Group dominates with about 15% market share due to wide
portfolio of greenhouse automation, climate control, and irrigation solutions.
Read More: https://www.ukwebwire.com/commercial-greenhouse-market-trends/