Global Aquaculture Equipment Market Overview, 2024-29
The Global Aquaculture Equipment Market Market is segmented into By Product Types (Water Purification Equipment, Aeration Devices, Water Circulation and Aeration Equipment, Fish Feeder, Fish Handling Equipment, Water Tetmperature Control Device, Water Quality Testing Instrument, Others (Seine Reels, Clear Pond Equipment)), By End User (Fish Hatcheries, Grow out farms, Other), By Distribution Channel (Direct, Indirect)
- Bonafide Research
- 29-02-2024
- Pages : 92
- Figures : 18
- Tables : 24
- Region : Global
- Category : Manufacturing & Industry
- Machinery, Parts & Equipment
The Global Aquaculture Equipment market is anticipated to cross USD 210 Billion by 2029, increasing from USD 150.66 Billion in 2023
- Historical Period2018-2022
- Base Year2023
- Forecast Period2024-2029
- Market Size (2023) USD 150.66 Billion
- Market Size (2029) USD 210 Billion
- CAGR (2024-2029) 6%
- Largest MarketAsia-Pacific
- Fastest Market Asia-Pacific
- Format
Featured Companies
- 1. Pentair PLC
- 2. Mitsubishi Corporation
- 3. GEA Group Aktiengesellschaft (Gea CowScout)
- 4. AKVA group
- 5. Xylem Inc. (Sensus)
- 6. Veolia Environment SA.
- 7. Marel hf.
- 8. Newterra, Ltd.
- 9. BAADER
- More...
Aquaculture Equipment Market Analysis
The global aquaculture industry, a vital component of the world's food production system, stands at the forefront of meeting the growing demand for seafood while addressing the challenges of overfishing and declining wild fish stocks. Aquaculture, often referred to as fish farming, encompasses a diverse range of aquatic species cultivated in various environments, including freshwater, marine, and brackish water systems. With aquaculture production surpassing wild-caught fisheries in recent years, the industry has emerged as a critical source of protein, essential nutrients, and economic opportunities for millions of people worldwide. From traditional pond-based farming to advanced recirculating aquaculture systems (RAS) and offshore aquaculture operations, the sector continues to evolve and innovate to meet the evolving needs of a growing global population. With an increasing focus on sustainability, environmental stewardship, and technological advancements, the global aquaculture industry plays a pivotal role in promoting food security, supporting rural livelihoods, conserving natural resources, and driving economic development in both developed and developing regions. As the world faces pressing challenges such as climate change, water scarcity, and food insecurity, the aquaculture industry is poised to play an even greater role in shaping the future of global food production and ensuring the availability of nutritious and sustainable seafood for generations to come. According to the research report, “Global Aquaculture Equipment Market Overview, 2029” published by Bonafide Research, the market is anticipated to cross USD 210 Billion by 2029, increasing from USD 150.66 Billion in 2023. The market is expected to grow with 6% CAGR by 2024-29. Seafood is becoming more and more in demand as the world's population rises and nutritional habits change for the better. This need may be met sustainably and effectively through aquaculture, which increases the requirement for equipment to enable higher output. Many governments worldwide are promoting aquaculture as a means of enhancing food security, reducing reliance on wild-caught fisheries, and stimulating economic growth in rural areas. Government subsidies, incentives, and supportive policies drive investment in aquaculture equipment. Furthermore, with increasing awareness of environmental issues and sustainability concerns, there is a growing demand for aquaculture equipment that promotes resource efficiency, minimises environmental impact, and ensures the health and welfare of aquatic species. Equipment designed to optimise water use, manage waste, and mitigate pollution is in high demand. The expansion of aquaculture operations into new regions, including offshore and land-based facilities, drives demand for specialised equipment tailored to diverse environmental conditions and production systems. As aquaculture production scales up and diversifies the need for versatile and adaptable equipment increases. Aquaculture represents a significant economic opportunity for many countries, particularly in regions with favourable geographic conditions and growing consumer demand for seafood. The potential for job creation, income generation, and export opportunities stimulates investment in aquaculture equipment. China is the largest producer of aquaculture, producing about 64,000 tonnes.
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Download SampleMarket Dynamic
Market Drivers • Economic Growth: Aquaculture represents a significant economic opportunity for many countries, particularly in regions with favorable geographic conditions and growing consumer demand for seafood. The potential for job creation, income generation, and export opportunities stimulates investment in aquaculture equipment. • Food Security and Resilience: Aquaculture contributes to global food security by providing a reliable source of protein and essential nutrients, particularly in regions vulnerable to food insecurity and climate change. Governments and international organizations recognize the role of aquaculture in enhancing resilience to food crises, driving investment in equipment and infrastructure. Market Challenges • High Initial Investment: The cost of setting up aquaculture operations, including purchasing equipment, can be prohibitively high for small-scale farmers and new entrants. High initial investment requirements pose a barrier to entry and limit market participation, particularly in developing countries. • Market Volatility: Aquaculture markets are subject to price volatility, seasonal fluctuations, and market uncertainties, which can affect the profitability and viability of aquaculture operations. Fluctuations in input costs, such as feed and energy prices, also impact the economics of aquaculture production and equipment investment decisions. Market Opportunity • Expansion of Aquaculture Operations: The expansion of aquaculture operations into new regions, including offshore and land-based facilities, is driving demand for specialised equipment tailored to diverse environmental conditions and production systems. As aquaculture production scales up and diversifies, the need for versatile and adaptable equipment increases. • Market Opportunities and Economic Growth: Aquaculture represents a significant economic opportunity for many countries, particularly in regions with favourable geographic conditions and growing consumer demand for seafood. The potential for job creation, income generation, and export opportunities stimulates investment in aquaculture equipment.
Aquaculture Equipment Segmentation
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
| Asia-Pacific | China | |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| South America | Brazil | |
| Argentina | ||
| Colombia | ||
| MEA | United Arab Emirates | |
| Saudi Arabia | ||
| South Africa |
Based on the product types, they are bifurcated into the following: water purification equipment, aeration devices, water circulation and aeration equipment, fish feeders, fish handling equipment, water temperature control devices, water quality testing instruments, and others. Fish feeders significantly contribute to the market. Fish feeders provide accurate, automated feeding systems that make sure fish eat the proper amount of food at the right time. Aquaculture operations benefit from increased production and profitability as a result of enhanced feed utilisation efficiency, reduced waste, and the promotion of optimal growth rates. Automated fish feeders reduce the need for manual feeding, saving labour costs and allowing aquaculture operators to allocate their workforce to other tasks. This is particularly beneficial for large-scale operations where manual feeding may be time-consuming and labor-intensive. Fish feeders dispense feed directly into the water, minimizing feed wastage caused by factors such as overfeeding, feed scattering, and feed sinking to the bottom of the pond or tank. This not only reduces feed costs but also helps maintain water quality by preventing excess nutrients from accumulating in the aquatic environment. Additionally Fish feeders are designed to distribute feed evenly across the water surface or throughout the water column, ensuring that all fish have access to feed and reducing competition for food. This promotes uniform growth and minimises the risk of aggressive behaviour or cannibalism among fish populations. In terms of end users, they are segmented into fish hatcheries, growout farms, and others; furthermore, the distribution channels are segmented into direct and indirect. Grow Out Farm is growing as the end user of the aquaculture equipment market. Aquaculture output has significantly increased in response to the growing global need for seafood in order to fulfil consumer demands. In this production chain, grow-out farms are essential since it's their job to raise fish and other aquatic animals to commercial size. There is a growing trend towards intensive aquaculture farming methods, such as pond culture, cage culture, and recirculating aquaculture systems (RAS), which require specialised equipment to optimise production efficiency and ensure the health and welfare of farmed species. In addition, grow-out farms are progressively using cutting-edge aquaculture technologies and apparatus to boost environmental sustainability, lower operating expenses, and increase output results. This covers the application of automated feeding systems, instruments for managing diseases, aeration systems, and water quality monitoring equipment. Furthermore, the indirect sales channel is a growing market. Aquaculture equipment distributors and resellers are common indirect channel participants. These intermediaries are crucial partners for manufacturers looking to efficiently contact target consumers since they have extensive knowledge and experience about the sector and its unique equipment requirements. Furthermore, indirect channels enable aquaculture equipment manufacturers to expand their market reach beyond their immediate geographical location or target customer base. Distributors and resellers often have established networks and relationships with a wide range of customers, including grow-out farms, hatcheries, processing facilities, and aquaculture research institutions, allowing manufacturers to access new markets and customer segments.
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Aquaculture Equipment Market Regional Insights
Based on the report, the five regions covered in the report include North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Europe significantly contributes to the market. Europe has a well-developed aquaculture industry with a long history of fish farming and aquaculture research. Countries such as Norway, Scotland, Greece, Spain, and Denmark are major producers of farmed fish and seafood products. This established industry creates a robust demand for aquaculture equipment, including systems for fish farming, hatcheries, processing facilities, and research institutions. European governments provide supportive policies and regulations to promote sustainable aquaculture practices and ensure food safety and environmental protection. These regulations drive the adoption of advanced aquaculture equipment that meets strict quality, environmental, and safety standards. Additionally, financial incentives and grants are often available to encourage investments in modern equipment and technologies. Europe is a hub for technological innovation in aquaculture equipment. The region is home to leading manufacturers, research institutions, and technology providers specialising in advanced equipment solutions for fish farming, water quality management, feeding systems, monitoring and control, and disease prevention. This culture of innovation drives the development and adoption of cutting-edge equipment in the European aquaculture industry. Europe's diverse geography and climatic conditions support a wide range of aquaculture activities, including freshwater, marine, and land-based farming operations. This diversity creates opportunities for equipment manufacturers to offer specialised solutions tailored to the specific needs of different aquaculture sectors and production environments.
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Key Development
• In August 2023, AKVA Group acquired a majority of 51 stakes in Submerged, an aquaculture technology firm that has designed a lice-counting and biomass measurement system and with an agreement to acquire up to 100% of the company by 2028. • In August 2022, SKAGINN 3X signed a contract with BlueWild, Norway, to supply a full fish processing factory onboard the company's innovative new trawler. The trawler is designed to deliver sustainability, quality, and efficiency on all levels. This is a milestone agreement for the organization. • In April 2022, Cflow AS participated in the Nor-Shipping from the 4th to the 7th of April. Nor-Shipping is at the center of the oceans. This is where the maritime and ocean industries meet every two years – a natural hub for key decision-makers from across the world to connect, collaborate and do deals to unlock new business opportunities. • Norway, signed a deal for the provision of a complete fish processing facility on the company's innovative trawler. The trawler provides efficiency, quality, and sustainability on all fronts. Similarly, in April 2022, Cflow AS took part in the Nor-Shipping in April 2022 from the fourth to the seventh. The centre of the oceans is Nor-Shipping. Every two years, the top maritime and ocean industries gather in Nor-Shipping to network, collaborate, and strike deals to open up new business prospects. • In April 2022, SKAGINN 3X made a contract with BlueWild, Norway to supply a full fish processing innovative new trawler, this trawler is designed to deliver sustainability, quality, and efficiency on all levels.
Companies Mentioned
- Pentair PLC
- Mitsubishi Corporation
- GEA Group Aktiengesellschaft (Gea CowScout)
- AKVA group
- Xylem Inc. (Sensus)
- Veolia Environment SA.
- Marel hf.
- Newterra, Ltd.
- BAADER
- IPG Photonics Corporation
Table of Contents
- 1. Executive Summary
- 2. Market Dynamics
- 2.1. Market Drivers & Opportunities
- 2.2. Market Restraints & Challenges
- 2.3. Market Trends
- 2.4. Covid-19 Effect
- 2.5. Supply chain Analysis
- 2.6. Policy & Regulatory Framework
- 2.7. Industry Experts Views
- 3. Research Methodology
- 3.1. Secondary Research
- 3.2. Primary Data Collection
- 3.3. Market Formation & Validation
- 3.4. Report Writing, Quality Check & Delivery
- 4. Market Structure
- 4.1. Market Considerate
- 4.2. Assumptions
- 4.3. Limitations
- 4.4. Abbreviations
- 4.5. Sources
- 4.6. Definitions
- 5. Economic /Demographic Snapshot
- 6. Global Aquaculture Equipment Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Region
- 6.3. Market Size and Forecast, By Geography
- 6.4. Market Size and Forecast, By Product
- 6.5. Market Size and Forecast, By End User
- 6.6. Market Size and Forecast, By Distribution Channel
- 7. North America Aquaculture Equipment Market Outlook
- 7.1. Market Size By Value
- 7.2. Market Share By Country
- 7.3. Market Size and Forecast, By Product
- 7.4. Market Size and Forecast, By End User
- 7.5. Market Size and Forecast, By Distribution Channel
- 8. Europe Aquaculture Equipment Market Outlook
- 8.1. Market Size By Value
- 8.2. Market Share By Country
- 8.3. Market Size and Forecast, By Product
- 8.4. Market Size and Forecast, By End User
- 8.5. Market Size and Forecast, By Distribution Channel
- 9. Asia-Pacific Aquaculture Equipment Market Outlook
- 9.1. Market Size By Value
- 9.2. Market Share By Country
- 9.3. Market Size and Forecast, By Product
- 9.4. Market Size and Forecast, By End User
- 9.5. Market Size and Forecast, By Distribution Channel
- 10. South America Aquaculture Equipment Market Outlook
- 10.1. Market Size By Value
- 10.2. Market Share By Country
- 10.3. Market Size and Forecast, By Product
- 10.4. Market Size and Forecast, By End User
- 10.5. Market Size and Forecast, By Distribution Channel
- 11. Middle East & Africa Aquaculture Equipment Market Outlook
- 11.1. Market Size By Value
- 11.2. Market Share By Country
- 11.3. Market Size and Forecast, By Product
- 11.4. Market Size and Forecast, By End User
- 11.5. Market Size and Forecast, By Distribution Channel
- 12. Competitive Landscape
- 12.1. Competitive Dashboard
- 12.2. Business Strategies Adopted by Key Players
- 12.3. Key Players Market Share Insights and Analysis, 2022
- 12.4. Key Players Market Positioning Matrix
- 12.5. Porter's Five Forces
- 12.6. Company Profile
- 12.6.1. Xylem Inc
- 12.6.1.1. Company Snapshot
- 12.6.1.2. Company Overview
- 12.6.1.3. Financial Highlights
- 12.6.1.4. Geographic Insights
- 12.6.1.5. Business Segment & Performance
- 12.6.1.6. Product Portfolio
- 12.6.1.7. Key Executives
- 12.6.1.8. Strategic Moves & Developments
- 12.6.2. AKVA Group
- 12.6.3. Grundfos
- 12.6.4. Pentair plc
- 12.6.5. Veolia Environnement S.A.
- 12.6.6. Mitsubishi Corporation
- 12.6.7. Marel hf
- 12.6.8. GEA Group AG
- 12.6.9. Newterra, Ltd.
- 12.6.10. BAADER
- 13. Strategic Recommendations
- 14. Annexure
- 14.1. FAQ`s
- 14.2. Notes
- 14.3. Related Reports
- 15. Disclaimer
Table 2: Influencing Factors for Aquaculture Equipment Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Aquaculture Equipment Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Aquaculture Equipment Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 8: Global Aquaculture Equipment Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 9: Global Aquaculture Equipment Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 10: North America Aquaculture Equipment Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 11: North America Aquaculture Equipment Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 12: North America Aquaculture Equipment Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 13: Europe Aquaculture Equipment Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 14: Europe Aquaculture Equipment Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 15: Europe Aquaculture Equipment Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 16: Asia-Pacific Aquaculture Equipment Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 17: Asia-Pacific Aquaculture Equipment Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 18: Asia-Pacific Aquaculture Equipment Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 19: South America Aquaculture Equipment Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 20: South America Aquaculture Equipment Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 21: South America Aquaculture Equipment Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 22: Middle East & Africa Aquaculture Equipment Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 23: Middle East & Africa Aquaculture Equipment Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 24: Middle East & Africa Aquaculture Equipment Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Aquaculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Aquaculture Equipment Market Share By Region (2023)
Figure 6: North America Aquaculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Aquaculture Equipment Market Share By Country (2023)
Figure 8: Europe Aquaculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Europe Aquaculture Equipment Market Share By Country (2023)
Figure 10: Asia-Pacific Aquaculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Asia-Pacific Aquaculture Equipment Market Share By Country (2023)
Figure 12: South America Aquaculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: South America Aquaculture Equipment Market Share By Country (2023)
Figure 14: Middle East & Africa Aquaculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 15: Middle East & Africa Aquaculture Equipment Market Share By Country (2023)
Figure 16: Competitive Dashboard of top 5 players, 2023
Figure 17: Market Share insights of key players, 2023
Figure 18: Porter's Five Forces of Global Aquaculture Equipment Market
Aquaculture Equipment Market Research FAQs
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