The Ventilation and Air Conditioning Market for Indoor Agriculture to grow by USD 716.26 million from 2021 to 2026, Benefits offered by ventilation and air conditioning equipment in indoor agriculture to drive the growth- Technavio
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
Key Highlights:
- The report recognizes the following as some of the key players in the ventilation and air conditioning market for indoor agriculture: Agrowtek Inc., American Coolair Corp., Canarm Ltd., Data Aire Inc., Desert Aire, FlaktGroup Holding GmbH, Industries Harnois Inc., Ingersoll Rand Inc., KE Fibertec AS, Link4 Corp., Munters Group AB, Pinnacle Climate Technologies Inc., Resideo Technologies Inc., STULZ GmbH, Systemair AB, VFA Solutions BV, Dantherm Group AS, KCC Heating and Cooling, WOLTER VENTILATION Co. Ltd., and Ziehl-Abegg SE
- Ventilation and Air Conditioning Market for Indoor Agriculture is fragmented in nature.
- Market to observe 10.98% YOY growth in 2022.
Major Trend
- The emerging trend of container farming is a major trend in the market.
Significant Challenge
- The high capital investment requirements and high operational costs are significant challenges restricting the market growth.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Keg Segments:
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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Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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