Press Release Description
Greenhouse Market to Exhibit Paramount Growth with Development of Renewable Energy in Middle East & Africa
The Middle East & Africa Solar Greenhouse Market is projected to grow at a CAGR of around 30.28% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The market growth imputes to the surging focus of governments of different countries in the region to develop renewable energy sources to decarbonize their hydrocarbon-based economies. Thus, governments are investing in clean energy projects & are also framing policies to attract as many investors in their countries as possible. As a result, a growing number of industries are witnessing the integration of clean & green energy with different industries involving the agriculture industry. The installation of solar panels on greenhouses has benefits both for the energy & agriculture sectors, which are leading to market growth in MEA.
The high reliance of countries such as the UAE, Saudi Arabia, Egypt, etc., on imports for fulfilling the food & agriculture requirements in the countries is leading to the creation of local food industries in the region. The unfavorable agricultural conditions of the region, are promoting the use of controlled environment agriculture such as greenhouses, vertical farming, etc. The requirement of a high amount of energy for regulating the humidity, temperature, and lighting requirements of the greenhouse is creating a need for energy efficiency in the sector. Solar energy's ability to lower total operating costs by improving the system's energy efficiency is driving growth in the installation of solar panels in greenhouses.
Also, the usage of conventional fuels to supply the energy needs of greenhouse operations is eliminated by solar panels, creating market demand for solar power by environmentally responsible cultivators, further states the research report, “The Middle East & Africa Solar Greenhouse Market, 2023.”
Vegetable Sector to Witness High Demand for Solar Greenhouses
Based on the application segment, the market is bifurcated into Vegetables, Fruits, and Flowers & Ornamental Plants. Among these, the Vegetable sector would become a prominent area in creating the demand for greenhouses, owing to the emergence of new advanced & highly efficient vegetable growing techniques such as hydroponics, aeroponics, etc., under the controlled environment agriculture. The ability of such techniques to fulfill the customized growth requirement of different vegetables such as cucumber, tomatoes, lettuce, and others all year round would further promote the use of greenhouses for vegetable production. The low productivity of the region owing to arid weather conditions, along with the advantages of production through greenhouses, such as efficient use of water & higher yield, would drive the market growth in the upcoming years.
Saudi Arabia to Become a Prominent Market for Solar Greenhouses Across the Middle East & Africa
Saudi Arabia is estimated to generate significant demand for solar-powered greenhouses in the forecast years. This attributes to the high rate of development of solar energy & solar-powered industries in the country in line with the mounting attention of the government in building up the sustainable position of its economy. The role of solar-based greenhouses in lowering the cost of energy & reducing carbon emissions by eliminating the use of fossil & other traditional fuels is mounting the popularity of solar panels among farmers. This is further encouraging companies to invest in technologies, products, and services like greenhouse management solutions, installation of solar panels, and others which would expand the opportunities for the Middle East & Africa Solar Greenhouse market in the forecast years.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Mirai Solar, Red Sea Farms, Kingpeng, Enel Green Power, Akuo Energy, Next2Sun, DUSOL, BayWa r.e., Insolight, Longi are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the Middle East & Africa?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various countries?
- How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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