The medium-tech commercial greenhouse market is projected to grow at a CAGR of 5.55% to reach US$5.380 billion by 2024. Medium-tech commercial greenhouses offer a blend of performance and cost-effectiveness as they are cheaper than high-tech commercial greenhouses and at the same time offer better performance than low-tech commercial greenhouses. The market growth of these commercial greenhouses is majorly attributed to their increasing adoption across dry and composite climate zones. Moderate budget of many farmers, coupled with increasing pressure to increase their yield while maintaining good quality, is pushing them towards adopting some technologies for their greenhouses. As medium-tech commercial greenhouses are not very technology-intensive yet offer benefits of using technology, their adoption is expected to continue increasing over the projected period, thus boosting the growth of the market. Geographically, Asia Pacific region is expected to hold a significantly large share in this market on account of moderate budget of farmers and increasing pressure on them to increase their yield.
Shrinking arable land across the globe
High cost of high-tech commercial greenhouses
Low affordability among farmers in many underdeveloped economies
The major players profiled in the Medium-tech commercial greenhouse market include Richel Group SA, Agra Tech Inc., Gibraltar Industries and Argus Control System Ltd.
The Medium-tech commercial greenhouse market has been analyzed through the following segments:
Fruits and vegetables
Flowers and ornamentals
Middle East and Africa
United Arab Emirates