Segmentation by Application (Air Supply Management, Thermal Control, Humidity Management, Pressure Control, and Others); and by End-User Industry (Agriculture, Defense, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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On the basis of geographical analysis, the global environment controller market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of high population in the region, along with massive dependence on agriculture for livelihood. The increasing practice of organic agriculture, adoption of technology in agricultural activities, and growing investment in the sector, are some of the factors estimated to boost the market growth in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the various government initiatives to promote greenhouse agriculture on a commercial scale. Moreover, the presence of major market players is also expected to promote the regional market growth.
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The global environment controller market is further classified on the basis of region as follows:
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Our in-depth analysis of the global environment controller market includes the following segments:
By Application
By End-User Industry
Growth Drivers
Challenges
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The increasing trend of farming in controlled environment, greenhouse agriculture, and adoption of advanced technology in agriculture sector is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2030.
Ans: The high manufacturing cost is estimated to hamper the market growth.
Ans: The market in the Asia Pacific is estimated to provide more business opportunities owing to the growing population and high dependence on agriculture for livelihood.
Ans: The major players in the market are Pure Hydroponics, HTG Supply, Climate Control Systems Inc., Growace, Argus Control Systems Ltd., Rough Brothers, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by application, end-user industry, and others.
Ans: The thermal controller segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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