Agrivoltaics Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The Agrivoltaics Market size was valued at USD 3.64 billion in 2022 and further expected to grow at a CAGR of 38% during the forecast period 2025-2030. The rapid climate changes like increasing temperature levels & reduced precipitation, coupled with rising water scarcity concerns, are creating significant challenges for both the energy & agriculture sectors worldwide.These challenges are shifting focus toward adopting Agrivoltaics, which enables the effective use of sunlight for crop growth. It is also beneficial for farmers to earn extra money by selling the power generated using solar panels. Hence, Agrivoltaics offers dual benefits, viz., agricultural output and earnings from power generation, and it has positively influenced the overall growth of the global market.
Markntel Advisor’s Agrivoltaics Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Agrivoltaics Market drivers, barriers, Agrivoltaics Market Trends, and Key Players in Agrivoltaics Market.
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Agrivoltaics Market Dynamics: 2024-2030
Agrivoltaics Market Driver:
Rising Water Scarcity Concerns and Rapid Climate Change to Drive the Market – With the rapidly growing population worldwide, global food production is expected to increase astronomically in the future. Moreover, with swift climate changes, if people continue to use water in the same way for agriculture purposes, there will not be enough water to meet the increasing food requirements in the future. Therefore, rising water scarcity is one of the crucial challenges that could hinder the growing demand for food production. As a result, there is an extreme need for an effective solution like Agrivoltaics that could help meet the desired food demand by overcoming the challenge of water scarcity.
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Agrivoltaics Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Placement
- Standalone
- Shading Nets
- Greenhouse
- Others (Solar Fence, Solar Windows, etc.)
- By Material Type
- Panels
- Paints
- By Cell Type
- Monocrystalline
- Polycrystalline
- By Crop Collaboration
- Vegetables
- Fruits
- Crops
- Others (Herbs, etc.)
- By Type of Agrivoltaics Plant
- Overhead Tilted
- Interspace
- Hybrid
- By Type of Solar Panel
- Opaque
- Semi Transparent
- Transparent
- By Power Output
- Upto 10 KWh
- 1 to 50 KWh
- More than 50 KWh
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Top Companies Operating in the Agrivoltaics Market:
- Enel Green Power
- JS Power
- Sun’ Agri
- Solar Window
- Akuo Energy
- BayWa r.e.
- Insolight
- REM Tec
- Zimmermen
- Next2Sun
- Others
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