Summary

Agrivoltaics Market Size
The global agrivoltaics market size was valued at $3.31 billion in 2024 and is projected to reach $6.19 billion by 2030, growing at a CAGR of 11.0% during the forecast period.

Agrivoltaics Market Overview
Agrivoltaics is a sustainable farming practice that involves the simultaneous use of land for both agriculture and solar energy production. This innovative approach integrates photovoltaic panels with crop cultivation, allowing for the dual use of land to maximize its productivity. The solar panels provide shade and can help reduce water evaporation, creating a more favorable microclimate for certain crops, while also generating renewable energy. This synergy between agriculture and solar power not only enhances land efficiency but also offers economic benefits to farmers through energy production and potentially increased crop yields. Agrivoltaics is seen as a promising solution to the competing demands for land and the need for sustainable energy and food production.

Agrivoltaics Market Dynamics
• The agrivoltaics market is expected to witness significant growth in the future due to increasing demand for renewable energy sources, need for efficient land use due to growing population and limited arable land, and government incentives and policies supporting renewable energy and sustainable agriculture.
• Additionally, the rising awareness of climate change and the importance of reducing carbon footprints, technological advancements in solar panel efficiency and agricultural practices, and the development of innovative, cost-effective agrivoltaic technologies are the prominent factors driving the growth of the agrivoltaics market.
• However, the high initial installation and maintenance costs, potential conflicts between land use for energy production and traditional farming, and limited awareness and understanding of agrivoltaics among farmers are restraining the market growth.
• On the contrary, the expansion into emerging markets with high solar energy potential, partnerships between energy companies and agricultural sectors, and increased research and development funding from governments and private sectors are creating opportunities for market growth.

By Crop, the Vegetables Segment held the Larger Market Share, and it would continue on this Path during the Forecast Period
The vegetables segment dominated the market share and is expected to maintain its leading position throughout the forecast period owing to the unique benefits it offers for both crop production and energy generation. Vegetables often require specific microclimatic conditions that can be enhanced by the partial shading provided by solar panels, which helps reduce heat stress and water evaporation, thereby improving crop yields and quality. Additionally, the consistent and controlled environment created by agrivoltaic systems can lead to more efficient use of water and fertilizers, essential for vegetable farming. With the growing emphasis on sustainable agriculture and renewable energy, farmers are increasingly adopting agrivoltaics to boost productivity and profitability while also contributing to environmental conservation. This dual advantage of enhancing vegetable cultivation and generating clean energy makes agrivoltaics particularly attractive in this segment, driving its market demand.
• According to the Global Land Assessment of Degradation, almost two billion hectares of land have been degraded globally since the 1950s. This situation is increasing the adoption of agrivoltaic systems, consequently driving revenue growth in the agrivoltaics market.

By Geography, North America Dominates by Being the Largest Market for Agrivoltaics
North America leads as the primary market for agrivoltaics during the forecast period due to the region's focus on sustainable energy solutions and efficient land use. With a growing emphasis on reducing carbon emissions and combating climate change, agrivoltaics presents an attractive solution by combining renewable energy production with agricultural activities. North America has vast areas of agricultural land and high solar irradiance, making it ideal for agrivoltaic systems. Additionally, government incentives and policies supporting renewable energy and sustainable farming practices further boost the adoption of agrivoltaics. Farmers and landowners are also seeking ways to diversify their income streams and enhance crop resilience, making agrivoltaics a compelling option. The region's technological advancements and investment in research and development contribute to the growth and implementation of agrivoltaic projects, driving significant demand in the North American market.

Key Target Audience:
• Farmers and Agricultural Landowners
• Solar Energy Companies
• Government Agencies and Regulatory Bodies
• Agricultural Research Institutions
• Environmental and Sustainability Organizations

List of the Key Players Profiled in the Report Includes:
• Akuo Energy
• BayWa AG
• Enel Green Power
• Insolight
• JS Power
• Mirai Solar
• Next2Sun Technology GmbH
• REM Tec
• Solar Window
• Sun' Agri
• Zimmermen
• Jinko Solar

Recent Developments:
• In April 2024, Akuo, a renewable energy power producer and developer, was awarded a pilot agrivoltaics project by the National Department of Agriculture and Rural Development. The project is financed through the Portuguese Agenda for Agriculture Innovation, utilizing funds from the Recovery and Resilience Plan. This collaborative effort involves ten different entities, including INIAV, an educational institute, a producers association, and other public and private organizations from the agricultural sector, all contributing added value to the project.
• In March 2023, Enel Green Power commenced construction of a photovoltaic power plant with a capacity of approximately 170 MW, marking its largest solar installation in Italy and the country's biggest agrivoltaic plant. This facility, located in Tarquinia in the province of Viterbo, Latium, is fully integrated with the local agricultural sector.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Cell Type:
• Monocrystalline
• Polycrystalline

Market by, System Design:
• Dynamic Panel
• Fixed Panel

Market by, Crop:
• Fruits
• Root Crops
• Vegetables
• Other Crops

Market by, Material Type:
• Panels
• Paints

Market by, Geography:
The agrivoltaics market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:
The report “Global Agrivoltaics Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

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Table of Contents

1 Market Introduction
1.1 Market Definition
1.2 Research Scope and Segmentation
1.3 Stakeholders
1.4 List of Abbreviations

2 Executive Summary

3 Research Methodology
3.1 Identification of Data
3.2 Data Analysis
3.3 Verification
3.4 Data Sources
3.5 Assumptions

4 Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunities
4.4 Market Challenges

5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market

6 Global Agrivoltaics Market by, Cell Type
6.1 Overview
6.2 Monocrystalline
6.3 Polycrystalline

7 Global Agrivoltaics Market by, System Design
7.1 Overview
7.2 Dynamic Panel
7.3 Fixed Panel

8 Global Agrivoltaics Market by, Crop
8.1 Overview
8.2 Fruits
8.3 Root Crops
8.4 Vegetables
8.5 Other Crops

9 Global Agrivoltaics Market by, Material Type
9.1 Overview
9.2 Panels
9.3 Paints

10 Global Agrivoltaics Market by, Geography
10.1 Overview
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 France
10.3.3 UK
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 South Korea
10.4.5 Australia
10.4.6 New Zealand
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 Qatar
10.6.4 Iran
10.6.5 South Africa
10.6.6 Rest of Middle East & Africa

11 Key Developments

12 Company Profiling
12.1 Akuo Energy
12.1.1 Business Overview
12.1.2 Product/Service Offering
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Activities
12.2 BayWa AG
12.3 Enel Green Power
12.4 Insolight
12.5 JS Power
12.6 Mirai Solar
12.7 Next2Sun Technology GmbH
12.8 REM Tec
12.9 Solar Window
12.10 Sun' Agri
12.11 Zimmermen
12.12 Jinko Solar