Global Solar Greenhouse Market Size Booming to Cross USD 12.2 Billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global solar greenhouse market size at USD 7.50 billion in 2022. During the forecast period between 2023 and 2029, the global solar greenhouse market size is projected to grow at a CAGR of 7.2% reaching a value of USD 12.24 billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global solar greenhouse market size at USD 7.50 billion in 2022. During the forecast period between 2023 and 2029, the global solar greenhouse market size is projected to grow at a CAGR of 7.2% reaching a value of USD 12.24 billion by 2029. The growing demand for food security in developing countries, the focus on energy efficiency and sustainability, and the growing popularity of vertical farming techniques are the main driving factors for the global solar greenhouse market.
Global Solar Greenhouse Market – Overview
Solar greenhouses are structures that provide the right atmosphere for plant development and production even under unfavorable climatic circumstances for crops, vegetables, or flowers. Large windows towards the south can be found in a solar greenhouse. Black stone slabs on the north side serve to reflect and hold sunlight. In order to maximize the energy from the sun, solar energy greenhouses are glass oriented. In the summer, natural ventilation decreases heat, while in the winter, it minimizes heat loss. A greenhouse powered by solar energy can reduce harmful and conventional greenhouse gas emissions.
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Global Solar Greenhouse Market – By Application
Based on application, the global solar greenhouse market is segmented into vegetables, flowers, ornamental plants, fruit plants, nursery crops, and others. The vegetable segment accounts for the highest market share owing to the high demand for vegetables worldwide. The Centre for the Promotion of Imports from developing countries states the “demand for fresh vegetables is much more dependent on local production.” In addition to helping produce leafy vegetables in freezing temperatures throughout the winter, passive solar greenhouses have also significantly contributed to extending the growing season, especially in colder climates.
Impact of COVID-19 on Global Solar Greenhouse Market
COVID–19 pandemic affected the growth of the global solar greenhouse market. According to the International Energy Agency, the commissioning of renewable power projects, biofuel facilities, and renewable heat investments were all negatively impacted by socially distancing restrictions and lockdown measures, which have caused supply chain disruption and project building delays. The development of both large-scale and small-scale solar greenhouse projects was halted or postponed due to the financial crisis during the pandemic in several countries, which hindered the global solar greenhouse market.
Major players operating in the global solar greenhouse market include Nexus Greenhouse Systems, Rough Brothers Inc., Atlas Manufacturing Inc., Solar Innovations Inc., Agra Tech Inc., Solar Gem Greenhouses, Stuppy Greenhouse Manufacturing, Solar Harvest Greenhouses, Sun Country Greenhouse Kits, Solar Earth Technologies LLC, Solar Gem Greenhouses, Solaripedia, PowerPlastics Pool Covers, Solaro Energy Inc., and Solar Gem Greenhouses.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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