The Asia Pacific commercial greenhouse market is projected to reach US$11,363.408 million by 2024 from US$7,636.729 million in 2018 with a CAGR of 6.85%. Asia Pacific is a region based heavily on agriculture sector and poses as an attractive base for the commercial greenhouse market. The demand for commercial greenhouses in the region is projected to witness a good rise owing to the growing investments by both government and key players in the commercial greenhouse market. Furthermore, growing agricultural sector in the region is further projected to augment this demand in the coming years. China and South Korea are estimated to hold the major share of the market and will also grow at a good pace during the forecast period.
Supportive Government Initiatives
Increasing demand for improvement in productivity in adverse climatic conditions
Presence of conventional methods for cultivating crops
In May 2019, Roots Sustainable Agricultural Technologies Ltd. Initiated their third sale agreement of their state-of-the-art greenhouse project with Dagan Agricultural Automation, their distribution partner in China.
In April 2019, the construction of China -Israel Green Eco-Industrial Park was initiated in the Gansu Province in Northwest Asia Pacific. The project included is an intelligent greenhouse, a 10,000-tonne pneumatic warehouse, and a Gobi agriculture service center.
In July 2018, the Department of Agriculture in the country has received a grant worth US$2.43 million to be used to promote and install smart greenhouse projects to improve the domestic tomato production.
The major players profiled in the Asia Pacific Commercial Greenhouse market include Sichuan Jianyang Jianchuan Industry Co., Ltd., Beijing Kingpeng International Hi-Tech Corporation, Noonty Greenhouse Co., Ltd., IGREEN INDUSTRIES LIMITED, Qingzhou Xinhe Greenhouse Horticulture Co., Ltd., and Indian Greenhouses Pvt. Ltd., among others.
The Asia Pacific commercial greenhouse market has been analyzed through the following segments:
Cooling Pad Systems
Medium-Tech Commercial Greenhouse
Fruits and Vegetables
Flowers and Ornamentals