Press release
Agrivoltaics Market Clinical Trial Report 2024 - 2031 | Ombrea, SunAgri, SunSeed APV Private Limited
Agrivoltaics Market
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.
Market Dynamics:
Growing global concerns regarding food security are anticipated to propel the agrivoltaics market forward. With over 800 million people worldwide facing food insecurity, and urbanization encroaching on agricultural lands, agrivoltaics offers a dual-use solution. By utilizing arable land for both crop cultivation and solar energy production, agrivoltaics optimizes land use efficiency. Additionally, the shading effect of solar panels conserves water and minimizes weed growth, thereby enhancing crop yields. These advantages are expected to drive increased adoption of agrivoltaic systems in the foreseeable future.
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Agrivoltaics Market Drivers: Increased Demand for Electricity Generation and Food Production
Agrivoltaic systems facilitate simultaneous solar power generation and agricultural activities, maximizing land utility for both purposes. As urbanization reduces available land for farming and energy projects, agrivoltaics emerges as a viable solution, meeting the rising demand from farmers and energy developers globally.
Need for Zero Displacement of Agricultural Land
Unlike conventional solar farms that require expansive, unshaded land, agrivoltaics enable solar energy generation directly on agricultural plots without displacing crucial farmland. This eliminates land use conflicts, promoting widespread adoption in land-constrained regions.
Agrivoltaics Market Opportunity: Growing Support through Subsidies and Policy Initiatives
Governments in Europe and Asia are increasingly incentivizing agrivoltaic adoption through subsidies and favorable policies. Initiatives like subsidies in China's Jiangsu province and tax credits in France promote investment in agrivoltaics, creating a conducive market environment for providers and farmers.
Agrivoltaics Market Trends: Shift towards Farm-Sized Installations and Microgrids
The trend is moving towards smaller-scale agrivoltaic installations ranging from 50kW to 500kW, which integrate seamlessly with farm operations and support local microgrids. This decentralized approach enhances economic viability and energy security at the community level, prompting technology companies to develop user-friendly solutions tailored for smallholder farmers.
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Top Companies Featured in This Report:
★ 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
Market Segmentation:
By Product Type:
★ By System: Fixed Panel and Dynamic Panel
★ By Crop: Vegetables, Fruits, Root Crops, and Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Agrivoltaics Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Agrivoltaics market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Agrivoltaics market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Agrivoltaics market.
Segment Analysis: Examining the market value and sales volume of Agrivoltaics by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Agrivoltaics market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Agrivoltaics sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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