Agrivoltaics Market to Hit USD 8.41 Bn by 2032, CAGR 8.68% (2025-2032) Driven by Land Optimization for Energy & Farming | Market Players: Next2Sun Technology GmbH, SunAgri, Ombrea, Namaste Solar, Mirai Solar

Global Agrivoltaics Market reached US$ 4.32 billion in 2024 and is expected to reach US$ 8.41 billion by 2032, growing with a CAGR of 8.68% during the forecast period 2025-2032, according to DataM Intelligence report.

The global Agrivoltaics market has witnessed significant growth over the past few years, driven by increasing demand across multiple industries and advancements in technology. The market is characterized by rising adoption of innovative solutions, growing consumer awareness, and supportive government regulations in major economies. As industries continue to prioritize efficiency, sustainability, and cost optimization, Agrivoltaics is becoming a critical enabler of business transformation.

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The agrivoltaics market is expanding as solar developers and farmers collaborate to optimize land use for both food and energy production. Climate-smart agriculture initiatives and renewable energy policies are accelerating adoption.

Key Highlights from the Report

➤ The Agrivoltaics market is projected to grow at a CAGR of 8.68% between 2024-2031.
➤ The dual-use crop cultivation segment dominates adoption, while the greenhouse integration segment grows fastest with controlled-environment farming.
➤ Europe leads the agrivoltaics market, while Asia Pacific is the fastest growing region due to integration of solar farming.
➤ Strategic collaborations and M&A activities are shaping the competitive landscape.
➤ Sustainability and digital transformation are creating new opportunities in the market.

Market Segmentation

By System Design (Fixed, Dynamic, Others), By Cell Type (Monocrystalline, Polycrystalline), By Crop (Vegetables, Fruits, Crops, Others), By Solar Technology (Photovoltaic (PV) Panels, Concentrated Photovoltaics (CPV))

Company Insights

Key players operating in the Agrivoltaics market include:
Next2Sun Technology GmbH, SunAgri, Ombrea, Namaste Solar, Mirai Solar, SunSeed APV Private Limited, Enel Green Power Spa, JA Solar Holdings Co. Ltd., BayWa AG and Insolight SA.

United States: Recent Agrivoltaics Developments

✅ In January 2025, the Mammoth Solar project in Indiana commissioned its first 480 MW_DC solar phase and is exploring agrivoltaic integration grazing sheep, alpacas, donkeys, and crop farming under panels-making it one of the largest dual-use solar installations in the U.S.

✅ In June 2025, Iowa State University released first-year findings from its four-year agrivoltaics study at a 10-acre Alliant Energy site near Ames, where vegetables grown under solar panels showed improved resilience to heat and drought; the study will expand with new crops (tomatoes), pest controls, and pollinator enhancements.

✅ In January 2025, solar grazing (agrivoltaics with livestock) was reported across over 60 U.S. projects-like Texas's SB Energy farm grazing 3,000 sheep-blending clean energy and agriculture to reduce mowing emissions, support local sheep markets, and expand rural opportunities.

Japan: Recent Agrivoltaics Developments

✅ In June 2025, Yanmar launched its "Save The Farms" agrivoltaics initiative aiming to use 1,000 hectares by 2030; pilot sites in Shiga (Ritto) and Okayama will grow rice under solar panels, generating 78 MWh and 169 MWh annually and involving local farmers and inclusive workforce models.

✅ In January 2025, Idemitsu Kosan announced plans to build a 2 MW agrivoltaics facility in Kisarazu, Chiba-expanding on a successful 45 kW pilot-using bifacial panels and tracker technology to balance crop sunlight during growth and energy output in off-seasons.

✅ In August 2024, Trinasolar commenced commercial operations of an agrivoltaics project in Fukuchiyama, Kyoto-the "PV+" model uses 3,392 Vertex N 720 W panels mounted ~2.35 m high to cultivate Japanese yam under shaded conditions, generating 2,700 MWh/year and reducing CO2 by 1,760 tons.

Industry Developments

✅ In December 2023, Turkey began the Agrivoltaics research effort to examine products and production processes. To assist with this effort, researchers developed tracker devices specifically for crops cultivated with Agrivoltaics technologies.

✅ In October 2023, the National Solar Energy Federation of India (NSEFI) established the Agrivoltaics Alliance in Delhi, India. The fundamental goal of this effort is to simplify crop production. It hopes to reduce the number of diseased veggies on the market by making incremental improvements, cutting manufacturing costs and making the best use of natural sunshine.

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Regional Insights

The global Agrivoltaics market demonstrates strong performance across multiple regions:
• North America leads the market due to high adoption rates, strong R&D activities, and the presence of key market players.

• Europe benefits from stringent regulations, increasing focus on sustainability, and government-backed innovation programs.

• Asia-Pacific is expected to witness the fastest growth during the forecast period, fueled by rapid industrialization, growing consumer base, and rising investment in infrastructure.

• Latin America and Middle East & Africa are also showing promising growth, supported by economic reforms and foreign direct investments.

Market Dynamics

Driver: Rising need for dual land use supports agrivoltaics as it combines solar energy with farming.

Restraint: High upfront investment and technical complexity limit adoption among small farmers.

Opportunity: Government subsidies for renewable energy in agriculture create new revenue streams.

Challenge: Balancing crop growth with energy generation requires optimized designs and practices.

The Report Includes:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Go-to-market Strategy.
➡ Neutral perspective on the market performance.
➡ Customized regional/country reports as per request and country level analysis.
➡ Potential & niche segments and regions exhibiting promising growth covered.

Reasons to Buy the Report
✔ Comprehensive market insights with accurate growth projections through 2032.
✔ In-depth segmentation analysis to identify high-growth areas.
✔ Regional breakdown highlighting key opportunities across global markets.
✔ Competitive landscape profiling leading players and recent strategic moves.
✔ Actionable insights for investors, policymakers, and industry stakeholders.

Frequently Asked Questions (FAQs)
◆ How Big is the Global Agrivoltaics Market?
◆ Who are the Key Players in the Agrivoltaics Industry?
◆ What is the Projected Growth Rate (CAGR) of the Market from 2025 to 2032?
◆ What is the Forecast Value of the Market by 2032?
◆ Which Region is Expected to Dominate the Market During the Forecast Period?

Conclusion

The global Agrivoltaics market is positioned for significant growth, driven by strong demand across industries, technological innovation, and supportive regulatory environments. While challenges such as high costs and regulatory hurdles exist, emerging opportunities in digital transformation, sustainability, and new applications are expected to create profitable pathways for market players. Companies that invest in innovation and strategic collaborations will remain at the forefront of this evolving landscape.

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