Players in the Global Hydroponics Market Bank on Agreements & Contracts as their Key Strategy

The global hydroponics market is highly competitive, with a large number of global and local market players. This segment includes the growth strategies adopted by market players between 2011 and 2015. Players in this market have adopted various strategies to increase their global footprint as well as their market shares. Agreements & contracts, partnerships, new product launches, expansions & investments, and mergers & acquisitions are some of the key strategies adopted by the market players to achieve growth in the hydroponics market. Agreements & contracts was the most widely used development strategy for the hydroponics market.

The global market for hydroponics is dominated by top players such as Argus Control Systems (Canada), Koninklijke Philips NV (The Netherlands), Greentech Agro LLC (U.S.), Logiqs B.V. (The Netherlands), and Lumigrow, Inc. (U.S.). Other players include American Hydroponics (U.S.), Heliospectra (Sweden), Hydrodynamics International, Inc. (U.S.), General Hydroponics, Inc. (U.S.), and Hydrofarm, Inc. (U.S.).

Koninklijke Philips NV mainly focuses on launching new products and facilities by improving its research & development activities. The company launched the new GreenPower top light range of LEDs along with upgraded versions which are ideal for hydroponic smart greenhouses. The company also entered into partnerships and signed agreements with a host of companies across the globe in order to expand its global presence and cater to more customers from the hydroponics industry. Koninklijke Philips NV also built various research & development facilities in North America, Europe, and Asia-Pacific in order to improve their technologies and cater to the hydroponics industry through various unique LED technologies.

Argus Control Systems is focused on increasing its business through agreements & contracts. It expanded its business to cater to customers in other countries and compete globally in the smart greenhouse market. These agreements and contracts help the company to increase its business and market share in the smart greenhouse market. Argus opened a new operation facility in Columbia, U.S., in September 2014 to meet the increasing demand for integrated control systems.

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