The global Commercial Greenhouse Market is estimated to be valued at US$ 44.99 Bn or Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Commercial greenhouses use systems and technologies for optimum growing conditions that allow farmers to grow crops throughout the year. Controlled factors like temperature, humidity, water, nutrients etc. help cultivate crops with high yields.
Market key trends:
One key trend gaining popularity is the adoption of hybrid greenhouse systems which combine different growing technologies and climate control systems. These hybrid systems integrate LED lights, hydroponics, aquaponics and other advanced farming techniques with traditional greenhouse infrastructure to maximize crop yields per unit area while using less resources like water, space and labour. For example, integrating hydroponics or aquaponics allows year-round cultivation without soil. LED lights supplement natural sunlight improving growth. Sensors and IoT enabled controls optimize various factors for optimal growth. Such hybrid models are expected to drive commercial adoption going forward.
Market key trends:
The Commercial Greenhouse Market Scope is witnessing increased adoption of smart greenhouse technologies. Growers are increasingly using hardware and software solutions such as HVAC, LED lighting, irrigation systems along with sensors and controllers to remotely monitor and control various parameters like temperature, humidity, carbon dioxide concentrations. These solutions enable optimal crop cultivation and production throughout the year with minimal manual intervention. For instance, HVAC systems maintain optimal air temperature for plant growth while LED lighting solutions provide customized spectra for specific crops and growth stages. Adoption of such smart greenhouse technologies is expected to drive the market during the forecast period.
SWOT Analysis
Strength: Controlled environment for year-round cultivation, higher yield per unit area, protection from external factors like weather, pests etc.
Weakness: High initial investment costs, require technical expertise to operate efficiently, dependence on external energy sources.
Opportunity: Scope for automation and use of renewable energy, growing demand for pesticide-free crops especially in European and North American countries.
Threats: Threat from open-field cultivation, risks of diseases spreading across entire greenhouse if not properly controlled.
Key Takeaways
The global commercial greenhouse market size was valued at US$ 44.99 Bn in 2023. The market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing demand for pesticide-free crops and growing adoption of smart technologies.
North America dominated the commercial greenhouse market in 2023 with over 30% share, owing to high demand for organic fruits and vegetables especially in the U.S. and Canada. Europe was the second largest regional market supported by government initiatives and subsidies for greenhouse cultivation in countries like Spain, Italy and Netherlands.
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 is one of the leading players known for its innovative greenhouse fittings and systems. Lumigrow is gaining popularity for its smart lighting and sensor-based solutions.
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