Hyderabad, India -- (SBWIRE) -- 02/19/2018 -- The report "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) - Forecast to 2021", The Hydroponics market is expected to reach USD 461.6 Million by 2021 from an estimated USD 212.3 Million in 2016, at a CAGR of 16.8%. The key factors such as rising demand for the agricultural products due to higher yield, advantage to develop crops in regions that can't support crops in soil, and increasing technological advancements are driving the growth of the global market.

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By equipment, the HVAC crops segment accounted for the largest share of the market in 2016
On the basis of equipment, the Hydroponics market has been segmented into HVAC, LED Grow Light, Communication Technology, Irrigation Systems, Material Handling, and Control Systems. The HVAC segment accounts for the largest market share as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation.

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By Type, the liquid segment accounted for the largest share of the market in 2016
On the basis of type, the Hydroponics market has been segmented into Aggregate & Liquid. Based on Crop Type, market is further segmented into Tomato, Lettuce & Leafy Vegetables, Cucumber, Pepper & Strawberry. The lettuce and leafy vegetable segment accounts for the major market share due to their better ease of growing and adaptability.

Based on Input type, market is 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

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Europe accounted for the largest share of the Hydroponics market in 2016, followed by North America. The large share of the Hydroponics market in Europe can be attributed to the growth in technology, growing disposable incomes, and the growing awareness about hydroponics in the region. North America is the fastest growing market.

The various players in the Hydroponics market include Argus Control Systems, Koninklijke Philips NV, Greentech Agro LLC, Logiqs B.V., Lumigrow, Inc. and General Hydroponics, Inc.

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