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Agrivoltaics Global Market Report 2025: Exponential Growth at 12.8% CAGR Driven by Increasing Demand for Renewable Energy and Advanced Farming Techniques
"Global Agrivoltaics Market Poised for Rapid Expansion, Aiming to Address Environmental Conservation and Food Security Concerns
What Is The Projected Market Size Of The Global Agrivoltaics Market And Its Growth Rate?
The agrivoltaics market is showing a significant growth trajectory in recent years:
- The market size grew from $4.59 billion in 2024, reaching $5.18 billion in 2025.
- It demonstrated a compound annual growth rate (CAGR) of 12.8%, propelled by the increasing demand for renewable energy, enhanced energy efficiency, governmental incentives, environmental conservation, and energy storage integration.
- The agrivoltaics market size is slated to continue its rapid growth, reaching $7.82 billion in 2029 at a compound annual growth rate (CAGR) of 10.9%.
- Market growth drivers in the forecast period include concerns over food security, crop yield improvement, public awareness, corporate sustainability goals, and rural development.
What Is Driving The Growth In The Agrivoltaics Market?
The surge in demand for agricultural land is a key factor propelling the agrivoltaics market growth. Agricultural land, comprising arable lands, permanent crops cultivation areas, and pastures, can benefit immensely from agrivoltaics. This approach efficiently combines renewable energy generation with agricultural production and can potentially increase the resilience of farming systems to climate change. For instance, India's Ministry of Agriculture & Farmers Welfare reports a 15% increase in Rabi crops planted area during the 2021-2022 season, compared to the previous year. This hints at the rising demand for agricultural land, which subsequently fuels the growth of the agrivoltaics market.
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Who Are the Key Players Driving Agrivoltaics Market Growth?
The major players in the agrivoltaics market include:
- TotalEnergies SE
- Huawei Technologies Co.
- BayWa AG
- Trina Solar
- Enel Green Power Spa
- JA Solar Holdings Co. Ltd.
- Ombrea SAS
- SunPower Corporation
- Suntech Power Holdings
- Boralex
- Soltec Power Holdings SA
- Voltalia SA
- Solarwatt
- Namaste Solar
- Sunseap Group
- REM Tec
- Sunrise Power Solutions
- Agrivoltaic Solution LLC
- DualSun
- Ecovoltaics
- Insolight SA
- Mackin Energy
- Mirai Solar
- Next2Sun Technology GmbH
- Sun'Agri SAS
- SunSeed APV Private Limited
What Are The Key Trends In The Agrivoltaics Market?
The agrivoltaics market is shifting significantly in the following ways:
- Integration of solar panels with agriculture
- Implementation of agrivoltaics microgrids
- Emphasis on carbon sequestration
- Global expansion of agrivoltaics
- Advancements in farming techniques linked with agrivoltaics
What Are The Segments Of The Global Agrivoltaics Market?
The agrivoltaics market can be divided as follows:
1) By System Design: Fixed Solar Panels Over Crops, Dynamic Agrivoltaics
2) By Crop Type: Leafy Greens, Root Crops
3) By Material Type: Panels, Paints
4) By Cell Type: Monocrystalline, Polycrystalline
5) By Placement: Standalone, Shading Nets, Greenhouse
Which Region Leads The Agrivoltaics Market?
North America was the largest region in the agrivoltaics market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. Other regions covered in the agrivoltaics market report include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Agrivoltaics Global Market Report?
- Market Size Analysis: Analyze the Agrivoltaics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Agrivoltaic Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Agrivoltaics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Agrivoltaic Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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