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Aquaculture Equipment Market Size

Report ID: GMI5627
Published Date: May 2024
Report Format: PDF

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Aquaculture Equipment Market Size

Aquaculture Equipment Market was valued at around USD 3.53 billion in 2023 and is anticipated to register a CAGR of 5.4% from 2024 to 2032, due to the rising demand for sea food and emerging aqua related business.

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Additionally, government initiatives such as launching new projects related to the aquaculture creating lucrative opportunities for the market players to launch new product with advance technology to cater large customer base. Many governments across the globe are supporting aquaculture as a sustainable way to supply the rising demand for seafood while minimizing strain on wild fish supplies. Supportive policies, subsidies, and regulations aimed at encouraging sustainable aquaculture practices are propelling the market growth.

Aquaculture Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2023
Aquaculture Equipment Market Size in 2023:	USD 3.53 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	5.4%
2024 – 2032 Value Projection:	USD 5.60 Billion
Historical Data for:	2021 - 2023
No. of Pages:	290
Tables, Charts & Figures:	171
Segments covered:	Equipment Type, Application, End use, Distribution channel, Region
Growth Drivers:	Rising demand for sea food Government initiatives
Pitfalls & Challenges:	High initial cost of equipment Environmental concerns

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The overall aquaculture industry which includes equipment’s, faces several operational challenges, mainly related to maintaining the quality of the seafood products, controlling the cost and the composition of feed, and controlling the costs related to the production at sea. On the hand, climate change and environmental degradation pose additional challenges, as rising sea levels, ocean acidification, and extreme weather events can damage aquaculture infrastructure and reduce productivity. Additionally, poor handling of advanced aquaculture equipment by workforce may also hindered the market growth.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of aquaculture equipment was reached USD 3.53 billion in 2023 and will grow at over 5.4% CAGR during 2024 to 2032, driven by the rising demand for sea food and emerging aqua related business.

Aquaculture equipment industry size from the aeration systems equipment type recorded USD 912 million in 2023 and is expected to reach USD 1.48 billion by 2032, as they increase the dissolved oxygen content of the water.

Asia Pacific aquaculture equipment market size crossed USD 1.60 billion in 2023 and will exceed USD 2.61 billion by 2032, driven by the increasing demand for seafoods.

ABB, AKVA Group, Asakua, Blue Ridge Aquaculture, Inc., CPI Equipment, eWater Aquaculture Equipment Technology Limited, Frea Aquaculture Solution, Grundfos Holding A/S, and Innovasea among others.