Aquaculture Equipment Market Size - By Equipment Type (Aeration System, Water Treatment Systems, Feeding Systems, Fish Handling Equipment, Monitoring and Control Systems, Harvesting and Grading Systems), By Application, By End Use & Forecast, 2024 – 2032

Aquaculture Equipment Market Size - By Equipment Type (Aeration System, Water Treatment Systems, Feeding Systems, Fish Handling Equipment, Monitoring and Control Systems, Harvesting and Grading Systems), By Application, By End Use & Forecast, 2024 – 2032

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.
 

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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.

Aquaculture Equipment Market Trends

Advancement in technology is emerge as a major aquaculture equipment industry trend. Cloud computing and big data technologies make it possible to gather massive amounts of data for traceability and process optimization. Automation system can facilitate water quality analysis, ensuring maximum yield throughout the production by making suitable, timely adjustments. Moreover, oxygen levels can be monitored, using online oxygen measuring equipment, alerting the staff when changes occur. A process automation system can help minimize salmon escaping by monitoring the nets continuously for wear and weakness.

Aquaculture Equipment Market Analysis

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Based on equipment type, the aeration system equipment type segment accounted for revenue of around USD 912 million in 2023 and expected to reach USD 1.48 billion by 2032. Aeration in ponds helps in mixing and circulation of pond water. Mixing and circulation is more critical in scientific farming which also helps in feed distribution and waste disposal. Aerators are mechanical devices which increases the dissolved oxygen content of the water.

On the other hand, ultraviolet (UV) is one of the commonly used methods for water treatment in aquaculture. These systems utilize UV radiation to disinfect the water by neutralizing harmful microorganisms such as bacteria, viruses, and parasites. UV light with a wavelength between 200 and 300 nanometers damages the DNA structure of these microorganisms, rendering them unable to reproduce and causing their eventual demise. Furthermore, UV water treatment systems are highly effective in reducing various pathogens that pose risks to both fish and human health. They can control common bacteria like Aeromonas spp., which cause diseases like furunculosis in fish.

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Based on end use, the commercial aquaculture farms segment was worth over USD 2.37 billion in 2023 and likely to exceed USD 3.84 billion by 2032. Commercial aquaculture facilities use a variety of aquaculture equipment to improve production efficiency, maximize the quality of the water, and maintain the health of aquatic species. These pieces of equipment are critical to many areas of aquaculture operations, including water management, feeding, aeration, monitoring, and harvesting.

On the other hand, hatcheries and nurseries are critical components of the aquaculture market as they provide a regulated habitat for the aquatic ecosystem in its initial stages. These facilities rely largely on specialized aquaculture equipment to provide the best environment for egg incubation, larval rearing, and juvenile growth.

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Asia Pacific aquaculture equipment market size surprised USD 1.60 billion in 2023 and is predicted to hit USD 2.61 billion by 2032. The increasing demand for seafoods in countries like China, Japan, South Korea, and India followed by rising aqua related business are the factor boosting market growth.

In terms of country China dominating with the overall share of around 45% in the Asia Pacific aquaculture equipment business. According to the USDA Foreign Agricultural Service official data, China's aquaculture production reached 58.12 MMT in 2023, up 4.4 percent or a net growth of 2.5 MMT compared to the year 2022. China also holds the position of the world's largest tilapia producer, generating 1.74 MMT in 2022, reflecting a 4.6 percent rise from the year 2021.

On the other hand, India is emerging as a fastest growing country for the aquaculture equipment market in terms of CAGR of 6.1% between 2024 to 2032. India is the third largest fish-producing country in the world accounting for 8% of global production. As per the Department of Fisheries, India recorded the highest ever export of fisheries and fisheries products with around 1.73 MMT worth USD 8.09 Bn in financial year 2022 - 2023.

Country Level Analysis

In terms of country US dominated the North America aquaculture equipment market with revenue of around USD 560 million in the year 2023 and estimated to cross USD 874 million by 2032. According to the U.S. Department of Agriculture, the U.S. seafood trade reached USD 20.3 billion in 2023. In 2022, the top five suppliers of seafood to the U.S. were Canada, Chile, India, Indonesia, and Vietnam, which together accounted for 51 percent of U.S. total imports by value.

On the other hand, Canada aquaculture equipment market expressing notable growth rate of around 4.9% in 2023. The Canada Aquaculture Industry production is primarily represented by finfish, as they accounted for 78% of total volume and 91% of value in 2021. British Columbia remains the largest contributor to the Canadian aquaculture industry, accounting for 50% of total volume and 55% of total value in 2021. This is followed by New Brunswick (16% of volume and 19% of value), Prince-Edward-Island (13% of volume and 4% of value), and Newfoundland and Labrador (10% of volume and 11% of value).

The Europe aquaculture equipment market was valued at around USD 653 million in 2023 and is anticipated to register a CAGR of 4.9% between 2024 to 2032.
In terms of country, Spain is expressing significant growth in terms of market value of around USD 125 million during the 2024 to 2032. The Spain aquaculture equipment is driven by the increasing demand for seafood products and the need for sustainable and efficient aquaculture market practices. According to the Ministry of Agriculture, Fisheries and Food mussel production reached 255,218 tons, with an estimated value of 159.3 million in 2022.

On the other hand, France experiencing notable growth in aquaculture equipment market and anticipated to grow at 5.2% CAGR through 2032, driven by the increasing demand for sustainable seafood and technological advancements.

In terms of country China dominating with the overall market share of around 45% in the Asia Pacific market. According to the USDA Foreign Agricultural Service official data, China's aquaculture production reached 58.12 MMT in 2023, up 4.4 percent or a net growth of 2.5 MMT compared to the year 2022. China also holds the position of the world's largest tilapia producer, generating 1.74 MMT in 2022, reflecting a 4.6 percent rise from the year 2021.

On the other hand, India is emerging as a fastest growing country for the aquaculture equipment market in terms of CAGR of 6.1% between 2024 to 2032. India is the third largest fish-producing country in the world accounting for 8% of global production. As per the Department of Fisheries, India recorded the highest ever export of fisheries and fisheries products with around 1.73 MMT worth USD 8.09 Bn in financial year 2022 - 2023.

Aquaculture Equipment Market Share

Key players involve in the AKVA Group, Blue Ridge Aquaculture, Inc., Grundfos Holding A/S, PentairAES, and Xylem accounting market share of 8-12% in 2023. Key competitors adopt a variety of strategies to gain a competitive advantage, including product innovation, technology developments, strategic collaborations, and robust advertising. Manufacturers spend heavily in R&D to provide unique and efficient equipment that aligns with the changing demands of aquaculture farmers. Automation, sensors, and data analytics are among the technological improvements fueling competitiveness as manufacturers compete to provide advanced technologies that maximize aquaculture operations.

Aquaculture Equipment Market Companies

Major companies operating in the aquaculture equipment industry include

• ABB
• AKVA Group
• Asakua
• Blue Ridge Aquaculture, Inc.
• CPI Equipment
• eWater Aquaculture Equipment Technology Limited
• Frea Aquaculture Solutions
• Grundfos Holding A/S
• Innovasea
• INVE Aquaculture
• LINN Gerätebau
• Merck & Co. Inc.
• PentairAES
• Pioneer Group
• Xylem     

Aquaculture Equipment Industry News

• In February 2024, Merck Animal Health announced the acquisition of the aqua business of Elanco Animal Health Incorporated for USD 1.3 billion in cash, consisting of an innovative portfolio of medicines and vaccines, nutritional and supplements for aquatic species, two related aqua manufacturing facilities in Canada and Vietnam as well as a research facility in Chile.
• In October 2022, Innovasea has unveiled Real fish Pro an advanced, cloud-based aquaculture platform that enables fish farmers to monitor, manage and control operations from anywhere. Combining real-time data from environmental sensors and cameras with powerful analytics, according to Innovasea, Real fish Pro allows farm operators to monitor and control water conditions and make informed decisions to protect fish stocks.  

This aquaculture equipment market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Million) (Thousand Units) from 2021 to 2032, for the following segments

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Market, By Equipment Type

• Aeration System
• Water Treatment Systems
• Feeding Systems
• Fish Handling Equipment
• Monitoring and Control Systems
• Harvesting and Grading Systems
• Others (Pumps, Lights, etc.)   

Market, By Application

• Land Based
• Sea Based  

Market, By End Use

• Commercial Aquaculture Farms
• Hatcheries and Nurseries
• Ornamental Fish and Aquarium Trad
• Research and Educational Institutions
• Others (Recreational Fishing, Fisheries and Aquaculture Departments, etc.)  

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA