The greenhouse heating and cooling systems market is set for strong growth, anticipated to rise from $19.15 billion in 2023 to $20.41 billion in 2024, with a CAGR of 6.6%. Growth drivers include the expansion of commercial agriculture, increasing demand for year-round crop production, the rise of organic farming, government incentives for sustainable practices, the need for pest and disease control, and growing awareness of climate change's impact on agriculture.
The greenhouse heating and cooling systems market is projected to grow significantly, reaching $26.65 billion by 2028 with a CAGR of 6.9%. The growth is driven by consumer demand for local and organic produce, investment in sustainable agriculture, development of climate-resilient crops, enhanced energy efficiency standards, urban agriculture initiatives, and renewable energy integration. Key trends include precision climate control, renewable energy adoption, vertical farming growth, energy-efficient materials, automated monitoring systems, sustainability, and data analytics for optimized crop production.
Major Driver In The Greenhouse Heating and Cooling Systems Market
The rising demand for year-round crop production is expected to enhance the growth of the greenhouse heating and cooling systems market. Year-round crop production entails growing and harvesting crops continuously throughout the year, irrespective of seasonal changes. This demand stems from shifting consumer lifestyles, the desire for fresh and locally sourced food, and the need to ensure food security amidst climate variability and population growth. Greenhouse heating and cooling systems are vital for meeting the rising demand for year-round crop production by establishing optimal growing conditions. These systems manage temperature and humidity, fostering consistent plant growth and extending the growing season, regardless of external weather conditions. The United States Department of Agriculture noted that contracted tomato production in California reached 12.9 million tons in 2023, with a yield of 50.8 tons per acre, reflecting a 23% increase from the previous year's 10.5 million tons. The greenhouse heating and cooling systems market size in 2023 is estimated at $4.5 billion, projected to increase to $5.4 billion by 2024, and expected to reach $8.4 billion by 2028.
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Greenhouse Heating and Cooling Systems Market Competitive Landscape
Netafim Ltd., Kelvion Holding GmbH, Munters Corporation, Hydrofarm, Griffin Greenhouse & Nursery Supplies Inc., Richel Group S.A.S., Priva B.V., BFG Supply Co., FarmTek Inc., Prospiant LLC, Dalsem Greenhouse Construction B.V., GGS Structures Inc., Saveer Biotech Limited, AgriNomix LLC, Gothic Arch Greenhouses Inc., Enerdes Inc., Agra Tech Inc., Luiten Greenhouses, Valoya Oy, BioTherm Solutions LLC, Rimol Greenhouses Inc., DryGair Energies Ltd.
Key Greenhouse Heating and Cooling Systems Market Trend
Companies in the greenhouse heating and cooling systems market are innovating with energy technologies, such as renewable energy-powered greenhouse heating systems, to improve energy efficiency, crop yields, and reduce operational costs by utilizing solar energy while maintaining optimal conditions for plant growth. For instance, in April 2023, EHP Technologies AG, a Switzerland-based heating and cooling solutions company, introduced a renewable energy-powered greenhouse heating system that uses minimal water. The system ensures consistent temperature regulation and is powered by up to 100% renewable energy, reducing reliance on fossil fuels and enabling significant energy savings. EHP estimates this system can save over 16 million kWh annually and cut CO2 emissions by nearly 393,000 kg.
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Global Greenhouse Heating and Cooling Systems Market Segmentation
The greenhouse heating and cooling system market covered in this report is segmented –
1) By Type: Heating Systems, Cooling Systems
2) By Technology: Natural Ventilation, Mechanical Ventilation, Radiant Heating; Forced Air Heating, Evaporative Cooling, Other Technologies
3) By Application: Flower Planting, Vegetable Cultivation, Fruit Cultivation, Other Applications
By Geography:The regions covered in the greenhouse heating and cooling systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the greenhouse heating and cooling system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Greenhouse Heating and Cooling Systems Global Market Report 2024 furnishes information about the global greenhouse heating and cooling systems market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
