Agrivoltaics Market Size, Share, and Analysis, By System Type (Dynamic Agrivoltaics Systems and Fixed Agrivoltaics Systems), By Crop (Fruits, Vegetables, Crops, and Others), By Technology (Photovoltaic (PV) Panels, Solar Thermal Systems, and Bifacial PV P

Agrivoltaics Market Size, Share, and Analysis, By System Type (Dynamic Agrivoltaics Systems and Fixed Agrivoltaics Systems), By Crop (Fruits, Vegetables, Crops, and Others), By Technology (Photovoltaic (PV) Panels, Solar Thermal Systems, and Bifacial PV Panels), By Application (Crop Production, Agroforestry, and Livestock Grazing), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Agrivoltaics Market is projected to exhibit a Compound Annual Growth Rate (CAGR) of 9.9% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 3.8 billion and is projected to reach USD 10.6 billion by the completion of 2034.

Agrivoltaics, which is also known as solar farming, involves the integration of agriculture with solar panels to maximize the usage of lands. These systems are designed to enable the use of land for farming, raising livestock, and installing solar panels. This method improves agricultural output by decreasing water loss and possibly boosting crop yield. It helps in achieving sustainable energy objectives by generating clean power and conserving land that could have been used for solar farms or agriculture, thereby reducing the need for extra land. Besides, agrivoltaics allows farmers to expand their revenue streams and simultaneously reduce their carbon footprints to meet sustainability goals.

MARKET HIGHLIGHTS

Agrivoltaics market is expected to reach USD 10.6 billion during the forecast period, due to its dual benefits of boosting agricultural productivity and producing renewable energy. This dual use of agrivoltaics attracts farmers as well as energy providers, which leads to high adoption rates of agrivoltaics. In addition, developments in solar panel technology and farming methods have made agrivoltaics systems more efficient and convenient. Furthermore, the growth in the market is attributed to government policies and regulations that offer subsidies and tax relaxations to encourage businesses to invest in integrated systems. Besides, continuous innovation boosts growth by improving productivity and reducing costs.

Agrivoltaics Market Segments:

• By System Type
• Dynamic Agrivoltaics Systems
• Fixed Agrivoltaics Systems
• By Crop
• Fruits
• Vegetables
• Crops
• Others
• By Technology
• Photovoltaic (PV) Panels
• Solar Thermal Systems
• Bifacial PV Panels
• By Application
• Crop Production
• Agroforestry
• Livestock Grazing

MARKET DYNAMICS

Growth Drivers

Increase in Demand for Renewable Energy is Important to Boost the Adoption of Agrivoltaics

Improved Efficiency in Land Utilization Will Aid the Market

Restraint

High Installation Cost Can Limit the Growth of the Agrivoltaics Market

Key Players

• BayWa AG
• Insolight SA
• Namaste Solar
• JA Solar Holdings Co. Ltd.
• Ombrea
• Sun Agri
• Enel Green Power
• First Solar
• Trina Solar Limited
• Exelon Corporation
• ABB Ltd.
• Suzlon Energy Ltd.
• Wood Group
• AREVA
• Hanwha Q Cells
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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