NEW YORK, Sept. 15, 2023 /PRNewswire/ -- The ventilation and air conditioning market for indoor agriculture is expected to grow by USD 716.26 million from 2021 to 2026. However, the growth momentum of the market will progress at a CAGR of 11.55% during the forecast period. The market is segmented by product (air conditioning equipment and ventilation equipment), type (new installation and retrofit), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The benefits offered by ventilation and air conditioning equipment in indoor agriculture are key factors driving market growth. Indoor farming practices offer many benefits, including improved yields and more harvest per drop, meaning more harvest per unit area and less water required per harvest. Additionally, the minimal use of agrochemicals (because the climate is controlled, preventing the growth of pathogens, fungi, and bacteria) enables efficient use of resources and low input costs. Therefore, well-managed indoor farms increase farmers' income. This encouraged farmers to adopt indoor farming practices and boosted demand for indoor farming equipment. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample
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The ventilation and air conditioning market share growth for indoor agriculture by the air conditioning equipment segment will be significant during the forecast period. Growing investment in vertical farming is driving demand for air conditioning equipment for indoor farming. Most vertical farms grow green leafy vegetables that require high humidity at room temperature. This is done using air conditioning equipment. In addition, the United States, Germany, France, UAE, Israel, Singapore, Japan, South Korea, and China are some of the largest markets for indoor vertical farming. Hence, these factors are expected to drive segment growth during the forecast period.
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The HVAC rental equipment market size is estimated to grow at a CAGR of 5.53% between 2022 and 2027. The market size is forecast to increase by USD 1,799.86 million. This report extensively covers market segmentation by end-user (industrial, commercial, and residential), type (air conditioning, heating, and ventilation), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The growing adoption of cleanrooms across industries is notably driving the market growth.
The non-residential HVAC rental equipment market size is estimated to grow at a CAGR of 5.52% between 2022 and 2027. The market size is forecast to increase by USD 1,565.69 million. This report extensively covers market segmentation by component (unitary equipment, portable equipment, and chillers equipment), end-user (industrial and commercial), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The growing adoption of cleanrooms across industries is notably driving the market growth.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Type
Market Segmentation by Geography
Drivers, Challenges, & Trends
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