The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Agrivoltaics Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Agrivoltaics Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Agrivoltaics Market size was valued at USD 3.64 billion in 2022 and further expected to grow at a CAGR of 38% during the forecast period 2024-2030. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in Agrivoltaics Market Segmentation?
The report has segmented the market into the following categories:
By Placement
– Standalone
– Shading Nets
– Greenhouse
– Others (Solar Fence, Solar Windows, etc.)
By Material Type
– Panels
– Paints
So far, the use of conventional photovoltaic solar panels is most common since it’s a well-proven technology that helps save a lot of money on power generation. In order to generate 1 watt of electric energy, approximately 9 solar panels are needed. Currently, the total global installed capacity of Agrivoltaics has reached nearly 2,900 MW. In this total installation, solar panels have acquired a major share. However, the initial expense & difficulty with the installation of a rooftop panel often discourage people from opting the solar energy.
By Cell Type
– Monocrystalline
– Polycrystalline
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
– 10.1 to 50 KWh
– More than 50 KWh
By Region
– North America
– South America
– Europe
– Middle East & Africa
– Asia-Pacific
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Key Factor Driver Agrivoltaics Industry Growth by 2030
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.
Who are the Key Players Operating in the Agrivoltaics Industry?
The top companies of the Agrivoltaics market ruling the industry are:
- Enel Green Power
- JS Power
- Sun’ Agri
- Solar Window
- Akuo Energy
- BayWa r.e.
- Insolight
- REM Tec
- Zimmermen
- Next2Sun
- Others
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FAQs (Frequently Ask Questions)
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