Global Agrivoltaics Market: Crosses USD 3.64 billion Valuation in 2022, Envisions 38% CAGR Surge Up to 2030

How big is the Global Agrivoltaics market?

According to MarkNtel Advisors study, The Global Agrivoltaics Market size was valued at around USD 3.64 billion in 2022 and is estimated to grow at a CAGR of about 38% during the forecast period, i.e., 2024-30.

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Global Agrivoltaics Market Driver:

Rising Water Scarcity Concerns and Rapid Climate Change to Drive the Market - With the rapidly growing population worldwide, global food production is expected to increase astronomically in the future. Moreover, with swift climate changes, if people continue to use water in the same way for agriculture purposes, there will not be enough water to meet the increasing food requirements in the future. Therefore, rising water scarcity is one of the crucial challenges that could hinder the growing demand for food production. As a result, there is an extreme need for an effective solution like Agrivoltaics that could help meet the desired food demand by overcoming the challenge of water scarcity.

Leading Companies in the Global Agrivoltaics market:

Enel Green Power
JS Power
Sun' Agri
Solar Window
Akuo Energy
BayWa r.e.
Insolight
REM Tec
Zimmermen
Next2Sun
Others

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Global Agrivoltaics Market Segmentation:

By Placement

Standalone
Shading Nets
Greenhouse
Others (Solar Fence, Solar Windows, etc.)

By Material Type

Panels
Paints

By Cell Type

Monocrystalline
Polycrystalline

Of both, Monocrystalline PV cells experience more demand owing to their higher efficiency. They are manufactured with the help of a single crystal growth method and can provide commercial efficiencies ranging from 20% to 24%.

By Crop Collaboration

Vegetables
Fruits
Crops
Others (Herbs, etc.)

By Type of Agrivoltaics Plant

Overhead Tilted
Interspace
Hybrid

By Type of Solar Panel

Opaque
Semi Transparent
Transparent

By Power Output

Upto 10 KWh
1 to 50 KWh
More than 50 KWh

Regional/ Countries Insight:

North America
South America
Europe
The Middle East Africa
Asia-Pacific

Of them all, Asia-Pacific dominates the Global Agrivoltaics Market due to the rising adoption of solar modules in China, Japan, India. In the region, China is the largest producer of photovoltaic modules.

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About MarkNtel Advisors:

MarkNtel Advisors is a leading consulting, data analytics, and market research company that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative quantitative research company, strive to deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.