Agrivoltaics Market, By System (Fixed Panel and Dynamic Panel), By Crop (Vegetables, Fruits, Root Crops, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Description

The Agrivoltaics Market is estimated to be valued at USD 4.34 Bn in 2024 and is expected to reach USD 7.61 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031.

Figure 1. Agrivoltaics Market Share (%), By Region, 2024

Agrivoltaics refers to an agricultural production system which integrates photovoltaic solar power generation on the same land area as agriculture. In this system, solar panels are installed above crop fields or pasture land in a way that does not prevent agricultural activities below the panels. This innovative practice allows for the dual use of land for both energy production as well as food/fodder cultivation. Some key benefits of agrivoltaics include reduced water needs for crops due to shading effect of panels, lowered land acquisition costs, and additional income from combined sale of solar power and agricultural produce. With growing global focus on renewable energy and sustainable food production, more countries are looking to adopt agrivoltaic solutions to optimize land use.

Market Dynamics:

The agrivoltaics market growth is driven by rising investments in solar energy infrastructure along with evolving government support for renewable energy integration with agriculture. Growing concerns around food security due to loss of arable land for solar projects is further propelling adoption. However, high setup costs and technical challenges associated with developing effective shading systems pose challenges. The market sees opportunities from ongoing R&D to optimize solar panel configurations to balance energy generation and crop yields. Partnerships between solar developers, farmers and technology firms will help maximize dual use of land. Additional incentives for agrivoltaic projects can help commercialization.

Key Features of the Study:

This report provides an in-depth analysis of the global agrivoltaics market and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global agrivoltaics market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Ombrea, SunAgri, SunSeed APV Private Limited, JA Solar Holdings Co. Ltd., Enel Green Power Spa, Mirai Solar, Namaste Solar, BayWa AG, Next2Sun Technology GmbH, and Insolight SA
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global agrivoltaics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global agrivoltaics market

Detailed Segmentation-

By System:
- Fixed Panel
- Dynamic Panel
By Crop:
- Vegetables
- Fruits
- Root Crops
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Ombrea
- SunAgri
- SunSeed APV Private Limited
- JA Solar Holdings Co. Ltd.
- Enel Green Power Spa
- Mirai Solar
- Namaste Solar
- BayWa AG
- Next2Sun Technology GmbH
- Insolight SA

Product Code: CMI7078

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By System
- Market Snippet, By Crop
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions

4. Global Agrivoltaics Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global Agrivoltaics Market
Impact Analysis

5. Global Agrivoltaics Market, By System, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Fixed Panel
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Dynamic Panel
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends

6. Global Agrivoltaics Market, By Crop, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Vegetables
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Fruits
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Root Crops
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends

7. Global Agrivoltaics Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020-2031
North America
- Introduction
- Market Size and Forecast, By System, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Crop, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By System, 2019 - 2031, (US$ Bn))
- Market Size and Forecast, By Crop, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By System, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Crop, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By System, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Crop, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Middle East & Africa
- Introduction
- Market Size and Forecast, By System, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Crop, 2019 - 2031 (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East & Africa

8. Competitive Landscape

Market Share Analysis
Company Profiles
- Ombrea
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- SunAgri
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- SunSeed APV Private Limited
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- JA Solar Holdings Co. Ltd.
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Enel Green Power Spa
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Mirai Solar
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Namaste Solar
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- BayWa AG
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Next2Sun Technology GmbH
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Insolight SA
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Section

References
Research Methodology
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