Press release
Agrivoltaics Market Size To Exceed USD 7.61 Bn by 2031, CAGR Of 8.3% | 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:
The agrivoltaics market is expected to grow at a significant rate owing to increasing adoption of solar energy in agriculture sector and growth in renewable energy integration. Solar panels installed above farms and orchards provide much-needed shade and protection for crops while also generating solar power. This dual use of agricultural land boosts crop yield and soil moisture retention. In addition, government subsidies and initiatives in major markets to encourage adoption of agrivoltaic systems will further promote the market growth over the forecast period. However, high installation costs and lack of awareness remain key challenges.
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Major Drivers of Land Use for both Agriculture and Solar Production
With growing energy demand and need to maximize agricultural production, agrivoltaic systems which allow dual use of land for growing crops as well as solar power generation are gaining significant popularity. Integrating solar panels mounted on structures that span farmland can boost farm revenues through additional revenue from electricity sales while minimizing reduction in agricultural output below the panels.
Major Market Opportunity in Adoption by High-Value Crop Farmers
High-value perennial crop farms particularly fruit and nut orchards are well positioned to leverage agrivoltaic infrastructure for optimized land-use and diversified revenue streams. Maintaining optimal light and climate conditions specific to these crops is often compatible with carefully installed solar panels that allows dual beneficiation. The business case is stronger for high value produce where per hectare farm revenues can easily justify capital costs of agrivoltaic projects and enable faster paybacks.
Emerging Trends in Integrating Agrivoltaics with Water Conservation Systems
Given immense water scarcity challenges faced globally, integrated agrivoltaic models are increasingly exploring synergies with water conservation strategies. Solar irrigation pumps, aquifer recharge structures and rainwater harvesting under panels are some techniques gaining focus. Such integrated 'agrovoltaic-hydro' systems can optimize land, energy and water productivity in a sustainable manner. Emerging business models such as solar-as-a-service are also playing a role in accelerating mainstream adoption of multifunctional agrivoltaic infrastructure across farmlands.
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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)
The report offers insights on the following aspects:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Analysis of Agrivoltaics Market Competition Landscape by Players
Chapter 4: Assessment of Agrivoltaics Market Size by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, recent developments, and investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
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:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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