The global agrivoltaics market size is estimated to grow from USD 5.26 billion in the current year USD 18.4 billion by 2035, at a CAGR of 12% during the forecast period, till 2035.
The capacity to produce solar energy while sustaining agricultural productivity is a significant motivation behind the growing adoption of agrivoltaics systems. Additionally, agrivoltaics can assist farmers in fulfilling their energy needs, decreasing reliance on inconsistent grid power. Agrivoltaics is becoming increasingly important in agriculture, especially for the detection and identification of objects beneath the water's surface. Recent advancements in agrivoltaics technology feature creative designs such as solar greenhouses and photovoltaic modules positioned between rows of crops. Importantly, the incorporation of data analytics and IoT technology is crucial, as sensors and IoT devices gather real-time information about crop health, microclimate, and energy output, turning this data into actionable insights for farmers.
Innovations in solar panel design are leading to the creation of more efficient and durable PV panels specifically optimized for agrivoltaics, which enhance light transmission and shading to lessen impacts on crop yields. As a result, considering the above mentioned factors, the agrivoltaics market is expected to grow at a steady pace during the forecast period.
On the other hand, the fixed panel segment is projected to experience a relatively higher CAGR during the forecast period. This growth can be attributed to their suitability for permanent installations, durability against weather conditions, minimal maintenance requirements, and cost-effectiveness.
The opportunity for agrivoltaics market has been distributed across the following segments:
Type of System Design
- Dynamic Panel
- Fixed Panel
Type of Technology
- Bifacial Solar Panels
- Monofacial Solar Panels
- Translucent Photovoltaic
Type of Crop
- Fruits
- Root Crops
- Vegetables
- Other Crops
Type of Placement
- Greenhouses
- Ground Mounted
- Shading Nets
Type of Application
- Grassland Farming
- Horticulture and Arable Farming
- Indoor Farming
- Pollinator Habitat
Geographical Regions
- North America
- US
- Canada
- Mexico
- Other North American countries
- Europe
- Austria
- Belgium
- Denmark
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Russia
- Spain
- Sweden
- Switzerland
- UK
- Other European countries
- Asia
- China
- India
- Japan
- Singapore
- South Korea
- Other Asian countries
- Latin America
- Brazil
- Chile
- Colombia
- Venezuela
- Other Latin American countries
- Middle East and North Africa
- Egypt
- Iran
- Iraq
- Israel
- Kuwait
- Saudi Arabia
- UAE
- Other MENA countries
- Rest of the World
- Australia
- New Zealand
- Other countries
Agrivoltaics Market: Growth and Trends
Agrivoltaics, often referred to as agrophotovoltaics or dual-use solar, involves using the same land for both solar energy generation and agricultural purposes. This cutting-edge method combines solar panels with farming, providing an eco-friendly solution for energy production alongside agriculture. Some key benefits of agrivoltaics are improved crop yields, protection for crops and livestock from extreme weather, and the opportunity for farmers to have multiple income sources.The capacity to produce solar energy while sustaining agricultural productivity is a significant motivation behind the growing adoption of agrivoltaics systems. Additionally, agrivoltaics can assist farmers in fulfilling their energy needs, decreasing reliance on inconsistent grid power. Agrivoltaics is becoming increasingly important in agriculture, especially for the detection and identification of objects beneath the water's surface. Recent advancements in agrivoltaics technology feature creative designs such as solar greenhouses and photovoltaic modules positioned between rows of crops. Importantly, the incorporation of data analytics and IoT technology is crucial, as sensors and IoT devices gather real-time information about crop health, microclimate, and energy output, turning this data into actionable insights for farmers.
Innovations in solar panel design are leading to the creation of more efficient and durable PV panels specifically optimized for agrivoltaics, which enhance light transmission and shading to lessen impacts on crop yields. As a result, considering the above mentioned factors, the agrivoltaics market is expected to grow at a steady pace during the forecast period.
Agrivoltaics Market: Key Segments
Market Share by Type of System Design
Based on type of system design, the global agrivoltaics market is segmented into dynamic panel and fixed panel. According to our estimates, currently, the dynamic panel segment captures the majority of the market share. This is due to their ability to optimize solar energy production and enhance crop yields by adjusting to follow the sun, thus maximizing sunlight exposure for crops.On the other hand, the fixed panel segment is projected to experience a relatively higher CAGR during the forecast period. This growth can be attributed to their suitability for permanent installations, durability against weather conditions, minimal maintenance requirements, and cost-effectiveness.
Market Share by Type of Technology
Based on type of technology, the global agrivoltaics market is segmented into bifacial solar panels, monofacial solar panels and translucent photovoltaic. According to our estimates, currently, the monofacial solar panels segment captures the majority of the market share. Additionally, this segment is expected to experience a relatively higher growth rate during the forecast period, owing to their affordability and dependable approach to integrating solar energy into agricultural practices.Market Share by Type of Crop
Based on type of crop, the global agrivoltaics market is segmented into fruits, root crops, vegetables and other crops. According to our estimates, currently, the root crops segment captures the majority of the market share. This is due to their capability to flourish in the partially shaded conditions created by solar panels.Market Share by Type of Placement
Based on type of placement, the global agrivoltaics market is segmented into greenhouses, ground mounted and shading nets. According to our estimates, currently, the ground mounted segment captures the majority of the market share. This growth can be attributed to their compatibility with areas that have plenty of open space and limited sunlight, where agrivoltaics systems may not be viable. Ground-mounted systems also provide improved flexibility in terms of orientation and tilt, which enhances energy production efficiency.Market Share by Type of Application
Based on type of application, the global agrivoltaics market is segmented into grassland farming, horticulture and arable farming, indoor farming and pollinator habitat. According to our estimates, currently, the pollinator habitat segment captures the majority of the market share. Moreover, this segment is projected to grow at a higher CAGR during the forecast period. This growth can be attributed to the growing awareness of pollinator decline, the increased sustainability and ecological advantages they provide to solar energy projects, and their comparatively lower costs relative to other agrivoltaic applications in sustainable agriculture.Market Share by Geographical Regions
Based on geographical regions, the agrivoltaics market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently North America captures the majority share of the market. Conversely, the market in Asia is expected to grow at a higher CAGR during the forecast period. The primary factors driving this rapid growth include increasing awareness of climate change, the necessity for sustainable farming methods, and government measures promoting renewable energy.Agrivoltaics Market: Research Coverage
The report on the agrivoltaics market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the agrivoltaics market, focusing on key market segments, including [A] type of system design, [B] type of technology, [C] type of crop, [D] type of placement, [E] type of application, and [F] geographical regions.
- Competitive Landscape: A comprehensive analysis of the companies engaged in the agrivoltaics market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
- Company Profiles: Elaborate profiles of prominent players engaged in the agrivoltaics market, providing details on [A] location of headquarters, [B] company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
- Megatrends: An evaluation of ongoing megatrends in the agrivoltaics industry.
- Patent Analysis: An insightful analysis of patents filed / granted in the agrivoltaics domain, based on relevant parameters, including [A] type of patent, [B] patent publication year, [C] patent age and [D] leading players.
- Recent Developments: An overview of the recent developments made in the agrivoltaics market, along with analysis based on relevant parameters, including [A] year of initiative, [B] type of initiative, [C] geographical distribution and [D] most active players.
- Porter’s Five Forces Analysis: An analysis of five competitive forces prevailing in the agrivoltaics market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
- SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
- Value Chain Analysis: A comprehensive analysis of the value chain, providing information on the different phases and stakeholders involved in the agrivoltaics market.
Key Questions Answered in this Report
- How many companies are currently engaged in agrivoltaics market?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
Reasons to Buy this Report
- The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
- Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
- The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.
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Table of Contents
SECTION I: REPORT OVERVIEWSECTION II: QUALITATIVE INSIGHTS5. EXECUTIVE SUMMARY7. REGULATORY SCENARIOSECTION III: MARKET OVERVIEW8. COMPREHENSIVE DATABASE OF LEADING PLAYERS10. WHITE SPACE ANALYSIS11. COMPANY COMPETITIVENESS ANALYSISSECTION IV: COMPANY PROFILESSECTION V: MARKET TRENDS14. MEGA TRENDS ANALYSIS15. UNMET NEED ANALYSIS16. PATENT ANALYSISSECTION VI: MARKET OPPORTUNITY ANALYSIS31. ADJACENT MARKET ANALYSISSECTION VII: STRATEGIC TOOLS32. KEY WINNING STRATEGIES33. PORTER’S FIVE FORCES ANALYSIS34. SWOT ANALYSIS35. VALUE CHAIN ANALYSISSECTION VIII: OTHER EXCLUSIVE INSIGHTS37. INSIGHTS FROM PRIMARY RESEARCH38. REPORT CONCLUSIONSECTION IX: APPENDIX39. TABULATED DATA40. LIST OF COMPANIES AND ORGANIZATIONS41. CUSTOMIZATION OPPORTUNITIES42. ROOTS SUBSCRIPTION SERVICES43. AUTHOR DETAILS
1. PREFACE
2. RESEARCH METHODOLOGY
3. MARKET DYNAMICS
4. MACRO-ECONOMIC INDICATORS
6. INTRODUCTION
9. COMPETITIVE LANDSCAPE
12. STARTUP ECOSYSTEM IN THE AGRIVOLTAICS MARKET
13. COMPANY PROFILES
17. RECENT DEVELOPMENTS
18. GLOBAL AGRIVOLTAICS MARKET
19. MARKET OPPORTUNITIES BASED ON TYPE OF SYSTEM DESIGN
20. MARKET OPPORTUNITIES BASED ON TYPE OF TECHNOLOGY
21. MARKET OPPORTUNITIES BASED ON TYPE OF CROP
22. MARKET OPPORTUNITIES BASED ON TYPE OF PLACEMENT
23. MARKET OPPORTUNITIES BASED ON TYPE OF APPLICATION
24. MARKET OPPORTUNITIES FOR AGRIVOLTAICS IN NORTH AMERICA
25. MARKET OPPORTUNITIES FOR AGRIVOLTAICS IN EUROPE
26. MARKET OPPORTUNITIES FOR AGRIVOLTAICS IN ASIA
27. MARKET OPPORTUNITIES FOR AGRIVOLTAICS IN MIDDLE EAST AND NORTH AFRICA (MENA)
28. MARKET OPPORTUNITIES FOR AGRIVOLTAICS IN LATIN AMERICA
29. MARKET OPPORTUNITIES FOR AGRIVOLTAICS IN REST OF THE WORLD
30. MARKET CONCENTRATION ANALYSIS: DISTRIBUTION BY LEADING PLAYERS
36. ROOTS STRATEGIC RECOMMENDATIONS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
• BayWa
• Chint New Energy Technology
• Enel Green Power
• Insolight
• JA Solar Holdings
• Mackin Energy
• Mirai Solar
• Next2Sun
• Ombrea
• REM TEC
• SunAgri
• Suntech Power
Methodology
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