(I-BusinessNews.Com, January 13, 2018 ) According to the report " Latin America Hydroponics Market by Equipment (HVAC, LED Grow Light, Communication Technology, Irrigation Systems, Material Handling, Control Systems & others), by Type (Aggregate (Closed Systems (The Water Culture System, The EBB and Flow System, Drip Systems, and The Wick System), Open Systems) & Liquid (Nutrient Film Technique (NFT), Floating Hydroponics, and Aeroponics)), by Crop Type (Tomato, Lettuce & Leafy Vegetables, Cucumber, Pepper & Strawberry), & by Input Type (Nutrients, Growth Medium), and by Region â€“ Industry Analysis, Share, Size, Growth, Trends, and Forecasts (2016-2021)" published by Market Data Forecast, the Latin America Hydroponics Market had a market value of USD 38.21 million in 2016 and is forecasted to exhibit a CAGR of 16.7% and reach USD 82.01 million by 2021.
Hydroponics is a part of hydroculture where plants are developed with their roots suspended specifically into water with no soil. This is just a type of hydroponic cultivating known as N.F.T. and there are many methods known as hydroponic cultivating. Hydroponics removes the restrictions for growing crops like seasons or climate.
One of the important drivers is that hydroponics gives higher yield compared with conventional agricultural techniques. It additionally gives farmers the capacity to develop crops in regions that can't support crops in soil. Moreover, hydroponics removes the use of counterfeit maturing operators and pesticides, which helps in making nutritiously superior vegetable items. Lack of awareness about the hydroponic agriculture system and high investment are some of the factors restraining the market growth to an extent.
Latin America Hydroponics Market is segmented based on Equipment, Type, Crop Type and Input Type. Based on Equipment, market is segmented into HVAC, LED Grow Light, Communication Technology, Irrigation Systems, Material Handling, and Control Systems. Based on Type, market is segmented into Aggregate & Liquid. Based on Crop Type, market is further segmented into Tomato, Lettuce & Leafy Vegetables, Cucumber and Pepper & Strawberry. Based on Input type, market is further segmented into Nutrients, Growth Medium. On the basis of Aggregate hydroponics systems, market is further segmented into Closed Systems, Open Systems.
Based on Liquid Hydroponic systems, market is segmented into Nutrient Film Technique (NFT), Floating Hydroponics, and Aeroponics. On the basis of closed systems, market is further segmented into The Water Culture System, The EBB and Flow System, Drip Systems, and The Wick System. HVAC has the largest market share, followed by LED grow lights, in 2014. HVAC is dominating the market as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation.
Geographically, market is further segmented into Brazil, Argentina and Mexico. Developing regions like Brazil are creating new opportunities owing to increase in food demand, advancing agricultural technique and growing economy.
Major Players dominating the Latin America Hydroponics Market are:
Â· Argus Control Systems
Â· Koninklijke Philips NV
Â· Greentech Agro LLC
Â· Logiqs B.V.
Â· Lumigrow, Inc.
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