The Global Commercial Greenhouse Market is anticipated to garner $43,431 million in 2025, growing at a CAGR of 7.7% during the forecast period 2018-2025 according to Progressive Markets report, Commercial Greenhouse Market Size, Trend, Share, Opportunity Analysis & Forecast, 2018-2025.
A greenhouse, generally constructed using transparent materials such as glass, provides regulated climatic conditions required for optimal growth of the crops. The commercial greenhouses provide higher yields as compared to the traditional methods of agriculture, which in turn augments its demand in the near past. In addition, the unfavorable climatic conditions for traditional agriculture has made greenhouse systems a better alternative. It has been evident that the arable land per capita is expected to decrease in the near future. This in turn is also expected to lead to increased demand for commercial greenhouse in the near future. However, increase in initial investments is anticipated to hamper the growth of the commercial greenhouse market during the forecast period. Moreover, the lack of adequate knowledge pertaining to use and benefits of commercial greenhouses leads to minimal adoption of this mode of agriculture.
Based on type, the commercial greenhouse market is bifurcated into glass greenhouse and plastic greenhouse. In 2017, the plastic greenhouse segment dominated the market and represented around 68% share of the overall market revenue. Further, by 2025, the same segment is projected to continue its dominance, expanding at a considerable CAGR of 8.7% during the forecast period.
Based on region, the market is analyzed across North America (US, Canada, and Mexico), Europe (UK, Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA). In 2017, Europe dominated the market and accounted for $8,134 million, followed by Asia-Pacific. Further, the market in Asia-Pacific is projected to expand at the highest CAGR owing to growth in infrastructure development and supportive government regulations in the region. Large players in Europe have made heavy investment for R&D of commercial greenhouses. Some of these research areas include automation for climatic controls and lighting.
Key players profiled in the report include RICHEL Group, Argus Control Systems Ltd., Certhon, Logiqs BV, LumiGrow Inc, KEDER GREENHOUSE, Agra Tech, Inc, Nexus Corporation, DutchGreenhouses, and HELIOSPECTRA AB.