Agrivoltaics Market By Size, Share and Forecast 2029F

Summary

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 5.54 Billion
Market Size (2029)	USD 7.66 Billion
CAGR (2024-2029)	5.72%
Fastest Growing Segment	Horticulture and Arable Farming
Largest Market	Europe

Market Overview

Global Agrivoltaics Market was valued at USD 5.54 Billion in 2023 and is expected to reach USD 7.66 Billion by 2029 with a CAGR of 5.72% during the forecast period.

The Global Agrivoltaics Market is an emerging sector at the intersection of agriculture and renewable energy, harnessing the dual benefits of solar power generation and crop cultivation on the same land. According to the IEA data - In 2023, global renewable electricity generation capacity grew at its fastest pace in over three decades. This progress puts the goal of tripling renewable energy capacity by 2030, as set by governments at COP28, within reach. However, current projections indicate that capacity will increase by about two-and-a-half times from 2022 levels by the decade's end, highlighting the need for further acceleration in renewable energy deployment to achieve the triple target. Agrivoltaics involves the installation of photovoltaic systems above crops or grazing areas, optimizing land use by generating electricity while simultaneously allowing agricultural activities. This innovative approach addresses the pressing need for sustainable energy solutions and food security, particularly as global populations grow and the demand for both energy and food increases. The market is experiencing rapid growth due to several driving factors, including the rising awareness of climate change and the need for renewable energy sources. Governments and policymakers worldwide are supporting agrivoltaic projects through favorable regulations, subsidies, and incentives aimed at reducing greenhouse gas emissions and promoting sustainable farming practices. Technological advancements in solar panel efficiency and mounting systems are enhancing the feasibility and productivity of agrivoltaic installations.

Key regions driving market expansion include Europe, North America, and parts of Asia, where favorable climate conditions, supportive policies, and strong agricultural sectors create ideal environments for agrivoltaic systems. The integration of agrivoltaics not only helps mitigate land use conflicts between energy and agriculture but also provides economic benefits to farmers through additional revenue streams from energy production. Despite its potential, the agrivoltaics market faces challenges such as high initial investment costs, the need for specialized equipment, and potential impacts on crop yields. However, ongoing research and development efforts are focused on optimizing system designs to balance energy production with agricultural productivity.

Key Market Drivers

Growing Demand for Renewable Energy

The escalating demand for renewable energy is significantly propelling the growth of the Global Agrivoltaics Market. As countries worldwide commit to achieving their climate objectives and reducing dependence on fossil fuels, the search for sustainable and alternative energy sources has intensified. Agrivoltaics, a promising approach that combines photovoltaic systems with agricultural practices, offers an innovative solution by utilizing underused land for generating energy. This dual-purpose strategy not only addresses energy needs but also enhances land use efficiency, aligning perfectly with global sustainability goals.

The growing emphasis on renewable energy is driven by international climate agreements such as the Paris Agreement, which mandate substantial reductions in greenhouse gas emissions. Countries are increasingly adopting policies and regulations to promote clean energy sources, including solar power.According to the IEA data - At the COP28 climate summit in Dubai, nearly 200 countries made significant collective commitments to meet the Paris Agreement goal of limiting global warming to 1.5°C. For the first time, governments acknowledged that achieving this target requires net zero energy-related emissions by 2050. They set critical goals, including tripling global renewable energy capacity, doubling energy efficiency improvements by 2030, accelerating the shift from fossil fuels, and advancing technologies like low-emissions hydrogen and carbon capture. Agrivoltaics aligns with these initiatives by providing a means to generate electricity while maintaining agricultural productivity. This integration of solar panels into farmland or other agricultural settings ensures that energy generation does not come at the expense of food production, making it a highly attractive option for policymakers and stakeholders.

In addition to international and national support, local incentives also play a crucial role in advancing agrivoltaic systems. Governments and local authorities are offering subsidies, tax breaks, and grants to encourage the adoption of renewable energy technologies. These financial incentives reduce the initial costs of implementing agrivoltaic projects, making them more accessible and appealing to farmers and investors alike. As agrivoltaic technology continues to evolve and become more cost-effective, its benefits are increasingly recognized. Advances in technology are enhancing the efficiency and affordability of photovoltaic systems, further boosting their viability as a solution for clean energy production. By supporting both energy generation and agricultural productivity, agrivoltaics represents a strategic solution that meets the dual demands of sustainable energy and food security. This growing recognition and support underscore the expanding role of agrivoltaics in the global transition toward greener energy sources.

Rise in Supportive Government Policies and Incentives

Government policies and incentives are crucial drivers of growth in the Global Agrivoltaics Market. Many governments around the world are actively creating supportive frameworks to encourage the adoption of renewable energy technologies, with agrivoltaics being a significant focus. These policies often include a range of financial incentives such as subsidies, tax credits, and grants specifically designed for agrivoltaic installations. These incentives help to alleviate the financial burden associated with implementing such technologies, making them more accessible and attractive to farmers and investors. By reducing the upfront costs and financial risks, these measures facilitate greater adoption and integration of agrivoltaic systems.

In addition to financial support, government policies that promote land use efficiency and sustainability align closely with the goals of agrivoltaic projects. Many regions are enacting regulations that prioritize the dual use of land for both agricultural and energy production, which enhances the appeal of agrivoltaics. These policies often aim to reduce land competition and ensure that energy generation does not interfere with food production, thus supporting a more sustainable and efficient use of land resources.

Governments are also investing in research and development to advance agrivoltaic technology. This investment helps improve the feasibility and efficiency of agrivoltaic systems, accelerating their market penetration. By funding research initiatives and supporting innovation, governments contribute to the continuous evolution of technology, making it more viable and cost-effective. The alignment of agrivoltaics with national and international sustainability goals further strengthens its role as a key component in future energy and agricultural strategies. Governments' commitment to addressing climate change and promoting renewable energy sources enhances the strategic importance of agrivoltaics, positioning it as a crucial element in achieving broader environmental and economic objectives. As a result, supportive government policies and incentives play a vital role in driving the expansion and adoption of agrivoltaic systems worldwide.

Technological Advancements

Technological advancements are pivotal in driving the growth of the Global Agrivoltaics Market. Recent innovations in photovoltaic technology have significantly enhanced the performance and feasibility of agrivoltaic systems. For instance, improvements in panel efficiency mean that modern photovoltaic panels convert more sunlight into electricity, which increases the overall energy output of agrivoltaic installations. The development of lightweight materials for solar panels and advanced mounting systems facilitates easier and more flexible integration with agricultural settings. These advancements ensure that solar panels can be installed and maintained with minimal disruption to farming activities.

Advancements in smart grid technology and energy storage solutions play a crucial role in supporting the growth of agrivoltaics. Smart grids enable more efficient management of energy distribution, while energy storage systems address the challenge of energy intermittency by storing excess power generated during peak sunlight hours. This stored energy can then be utilized when solar generation is low, thereby maximizing the utility of the electricity produced by agrivoltaic systems. These technologies help ensure a stable and reliable energy supply, making agrivoltaics a more viable and attractive option for both energy producers and farmers.

Ongoing research into optimizing the integration of solar panels with agricultural practices is also driving market growth. This research focuses on finding the optimal balance between energy production and crop yield, ensuring that the installation of solar panels does not adversely affect agricultural productivity. By developing solutions that allow for efficient co-location of solar panels and crops, researchers aim to enhance the overall effectiveness of agrivoltaic systems. As these technological advancements continue to evolve, they contribute to reducing the costs associated with agrivoltaic installations and improving their efficiency. Lower costs and higher efficiency make agrivoltaics a more appealing option for a broader range of stakeholders, including farmers, energy producers, and investors. Consequently, technological progress is a key factor in the expanding adoption and development of agrivoltaic systems.

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Key Market Challenges

High Initial Investment Costs

One of the primary challenges facing the Global Agrivoltaics Market is the high initial investment costs associated with the technology. Implementing agrivoltaic systems involves a substantial capital outlay, which includes expenses for purchasing and installing photovoltaic panels, mounting structures, and related infrastructure. These costs can be significant, as the setup requires not only the solar panels themselves but also the integration of supporting systems like inverters, wiring, and energy storage solutions. The initial investment is compounded by costs related to land preparation and system integration. Preparing the land for the installation of solar panels, ensuring proper alignment, and integrating the solar power system with existing agricultural operations add to the financial burden. Maintenance costs, although lower than initial installation, also contribute to the overall expense over time.

This high upfront investment can be a considerable barrier, especially for small-scale farmers or those in developing regions where financial resources are limited. While agrivoltaics offers long-term benefits such as additional revenue from energy production and improved land use efficiency, the initial financial commitment can deter potential adopters. Despite the promising advantages, including diversified income streams and enhanced agricultural productivity, the significant initial capital required poses a challenge to widespread adoption. To overcome this barrier, solutions such as government subsidies, financial incentives, and innovative financing models may be necessary to make agrivoltaics more accessible to a broader range of stakeholders and to foster its growth in the market.

Technical Complexity and Integration Issues

Technical complexity and integration issues present notable challenges for the Global Agrivoltaics Market. Agrivoltaic systems involve sophisticated technology and precise engineering to ensure that the integration of solar panels does not adversely affect crop growth or interfere with farming operations. Designing and installing these systems requires careful consideration of various factors, such as the orientation of solar panels, shading effects on crops, and the specific soil conditions of the land. One key aspect of this complexity is determining the optimal placement and angle of solar panels to maximize energy production while minimizing negative impacts on crop growth. Inadequate design can lead to excessive shading, which might hinder photosynthesis and reduce crop yields. Conversely, improper panel placement can fail to achieve the intended energy generation and operational efficiency.

Integrating solar power generation with existing agricultural practices also demands advanced technical knowledge and expertise. The system must be seamlessly incorporated into current farming operations without disrupting traditional practices. This involves managing potential conflicts between energy production and agricultural activities, ensuring that the system enhances rather than compromises farm productivity. To address these challenges, ongoing research, development, and collaboration between engineers, agronomists, and technology providers are crucial. Developing optimized solutions that balance energy production with agricultural productivity requires a multidisciplinary approach. Innovations and improvements in system design, as well as advancements in technology, are essential to overcoming these technical barriers and achieving successful integration of agrivoltaic systems.

Key Market Trends

Enhancement of Agricultural Productivity

The enhancement of agricultural productivity is a key driver for the growth of the Global Agrivoltaics Market. Agrivoltaic systems are specifically designed to optimize land use by integrating solar panels with crop cultivation, effectively allowing both energy production and farming to occur on the same land. This dual-use approach not only addresses land scarcity but also offers several benefits that contribute to improved agricultural productivity. One significant advantage of agrivoltaic systems is the partial shading provided by the solar panels. This shading can reduce heat stress on crops, particularly in regions experiencing high temperatures. By mitigating excessive heat, agrivoltaics help maintain a more stable growing environment for plants, which can lead to healthier crops and potentially higher yields. The shading effect can enhance water retention in the soil by reducing evaporation, thus conserving moisture and improving irrigation efficiency.

Agrivoltaic systems can offer protection against extreme weather conditions. Solar panels act as a physical barrier, shielding crops from harsh elements such as heavy rain, hail, or intense sun exposure. This protection helps to maintain crop health and minimize damage from adverse weather, further supporting overall productivity. Ongoing research into the interactions between solar panels and various crops continues to uncover additional benefits of agrivoltaics. Studies are exploring how different crops respond to the presence of solar panels, including potential improvements in growth rates, resistance to pests, and overall yield quality. This research is crucial for optimizing agrivoltaic systems and ensuring that they provide tangible benefits to agricultural practices.

As farmers and agricultural stakeholders seek ways to enhance productivity while adopting sustainable practices, agrivoltaics presents a promising solution. The ability to improve crop yields and support agricultural efficiency while simultaneously generating renewable energy makes agrivoltaics an attractive option.

Increasing Investment in Renewable Energy Infrastructure

Increasing investment in renewable energy infrastructure is a critical factor driving the growth of the Global Agrivoltaics Market. As awareness of climate change and the need for sustainable energy solutions intensifies, both public and private sectors are significantly increasing their financial commitment to renewable energy technologies. This surge in investment is particularly evident in the development and deployment of agrivoltaic systems, which combine agricultural practices with solar power generation. Substantial investments are being channeled into various aspects of agrivoltaics, including research and development. This funding supports the innovation necessary to enhance the feasibility and scalability of agrivoltaic systems. By financing cutting-edge research, investors help improve the efficiency of photovoltaic technologies, optimize their integration with agricultural activities, and lower overall costs. This progress makes agrivoltaics more accessible and attractive to a broader range of stakeholders, including farmers and energy producers.

Investment in renewable energy infrastructure encompasses the development of essential components such as solar panel manufacturing facilities and grid integration technologies. Enhancing the infrastructure related to solar panel production ensures a steady supply of high-quality panels, while improvements in grid integration technology facilitate the efficient distribution of the electricity generated by agrivoltaic systems. These advancements contribute to the overall efficiency and reliability of agrivoltaic projects, making them a more viable option for sustainable energy production.

The commitment of investors to renewable energy infrastructure not only accelerates the deployment of agrivoltaic systems but also strengthens their long-term viability. As funding continues to flow into the sector, it supports the growth of ancillary industries and technologies that complement agrivoltaics, further boosting market expansion.

Segmental Insights

Array Configuration Insights

Based on the Array Configuration, In 2023, the Single-Axis Tracking array configuration emerged as the dominant segment in the Global Agrivoltaics Market. This is primarily due to its superior efficiency in capturing solar energy compared to Fixed configurations. Single-Axis Tracking systems have the ability to adjust the orientation of solar panels throughout the day, following the sun's path to maximize exposure and energy absorption. This dynamic adjustment allows these systems to generate significantly more electricity than Fixed systems, which have a static orientation and are limited to optimizing energy capture only at specific times of the day.

The enhanced performance of Single-Axis Tracking systems translates into higher energy yields and better overall efficiency, making them an attractive option for agrivoltaic applications where maximizing energy output is crucial. This increased energy production is particularly valuable in agrivoltaic setups, where the dual purpose of land use— combining agriculture with energy generation—demands efficient use of available resources. The technical advancements and decreasing costs associated with Single-Axis Tracking technology have made it more accessible and economically viable. The reduction in costs for tracking systems and improvements in their reliability have further driven their adoption in the agrivoltaics market.

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Regional Insights

In 2023, Europe emerged as the dominant region in the Global Agrivoltaics Market, holding the largest market share. This leadership is largely due to Europe's strong commitment to sustainability, advanced renewable energy policies, and significant investments in agrivoltaic technologies. European countries have been at the forefront of integrating renewable energy solutions with agricultural practices, driven by stringent climate goals and supportive government initiatives. The European Union's Green Deal and various national incentives have facilitated the widespread adoption of agrivoltaic systems, providing financial support and favorable regulatory frameworks that encourage their deployment.

Europe's extensive experience in solar energy and advanced agricultural practices make it an ideal region for the implementation of agrivoltaics. The region benefits from a combination of well-established solar infrastructure and a strong focus on land use efficiency, which enhances the appeal of agrivoltaic solutions. Countries like Germany, France, and the Netherlands have been particularly proactive in deploying agrivoltaic projects, leveraging their technological expertise and financial resources to drive market growth.

Recent Developments

In August 2024, Trinasolar, a global leader in photovoltaic (PV) and energy storage solutions, announced the start of commercial operations for its latest agrivoltaics project in Fukuchiyama, Kyoto Prefecture. Developed by Trinasolar’s International System Business Unit (ISBU), this initiative represents a key milestone in the company’s expansion within the Japanese market, highlighting the successful integration of renewable energy production with agricultural operations.
In October 2023, the National Solar Energy Federation of India (NSEFI) launched the India Agrivoltaics Alliance (IAA) in Delhi. The alliance was created to unite stakeholders from across the solar and agricultural sectors, including industry associations, research institutes, financial institutions, think tanks, civil societies, and farmer producer organizations. The initiative was supported by India Climate Collaborative (ICC) and Bloomberg Philanthropies.
In June 2024, Soltec and TSE announced a strategic partnership to launch agrivoltaic solutions in France. Soltec, a globally recognized leader in solar tracking solutions, has teamed up with TSE, a prominent player in France's agrivoltaics sector, to co-develop agrivoltaic products specifically tailored for the French market. Soltec brings its extensive experience and cutting-edge technology in the solar industry, while TSE contributes its specialized expertise in agrivoltaic systems, particularly through its innovative agricultural canopies. This collaboration allows Soltec to strengthen its presence in France by leveraging TSE's market knowledge and unique capabilities. Having developed several algorithms for the global agrivoltaics market, Soltec will now focus on co-developing solutions exclusively for France through this partnership with TSE.

Key Market Players

Jinko Solar Co., Ltd
Invenergy LLC
Nextracker Inc.
Iqony Sustainable Energy Solutions
First Solar, Inc.
BayWa AG
Enel Green Power S.p.A.
Sun’Agri
Trina Solar
Lightsource bp

By Array Configuration	By Photovoltaic Technology	By Site of Installation	By Region
Fixed Single-Axis Tracking	Monofacial Solar Panels Bifacial Solar Panels Translucent Photovoltaic Technology Others	Grassland Farming Horticulture and Arable Farming Indoor Farming Pollinator Habitat	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Agrivoltaics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Agrivoltaics Market, By Array Configuration:

o Fixed

o Single-Axis Tracking

Agrivoltaics Market, By Photovoltaic Technology:

o Monofacial Solar Panels

o Bifacial Solar Panels

o Translucent Photovoltaic Technology

o Others

Agrivoltaics Market, By Site of Installation:

o Grassland Farming

o Horticulture and Arable Farming

o Indoor Farming

o Pollinator Habitat

Agrivoltaics Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Agrivoltaics Market.

Available Customizations:

Global Agrivoltaics market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Agrivoltaics Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, and Trends

4. Voice of Customer

5. Global Agrivoltaics Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Array Configuration (Fixed, Single-Axis Tracking)

5.2.2. By Photovoltaic Technology (Monofacial Solar Panels, Bifacial Solar Panels, Translucent Photovoltaic Technology, Others)

5.2.3. By Site of Installation (Grassland Farming, Horticulture and Arable Farming, Indoor Farming, Pollinator Habitat)

5.2.4. By Company (2023)

5.2.5. By Region

5.3. Market Map

6. North America Agrivoltaics Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Array Configuration

6.2.2. By Photovoltaic Technology

6.2.3. By Site of Installation

6.2.4. By Country

6.3. North America: Country Analysis

6.3.1. United States Agrivoltaics Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Array Configuration

6.3.1.2.2. By Photovoltaic Technology

6.3.1.2.3. By Site of Installation

6.3.2. Mexico Agrivoltaics Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Array Configuration

6.3.2.2.2. By Photovoltaic Technology

6.3.2.2.3. By Site of Installation

6.3.3. Canada Agrivoltaics Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Array Configuration

6.3.3.2.2. By Photovoltaic Technology

6.3.3.2.3. By Site of Installation

7. Europe Agrivoltaics Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Array Configuration

7.2.2. By Photovoltaic Technology

7.2.3. By Site of Installation

7.2.4. By Country

7.3. Europe: Country Analysis

7.3.1. France Agrivoltaics Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Array Configuration

7.3.1.2.2. By Photovoltaic Technology

7.3.1.2.3. By Site of Installation

7.3.2. Germany Agrivoltaics Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Array Configuration

7.3.2.2.2. By Photovoltaic Technology

7.3.2.2.3. By Site of Installation

7.3.3. United Kingdom Agrivoltaics Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Array Configuration

7.3.3.2.2. By Photovoltaic Technology

7.3.3.2.3. By Site of Installation

7.3.4. Italy Agrivoltaics Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Array Configuration

7.3.4.2.2. By Photovoltaic Technology

7.3.4.2.3. By Site of Installation

7.3.5. Spain Agrivoltaics Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Array Configuration

7.3.5.2.2. By Photovoltaic Technology

7.3.5.2.3. By Site of Installation

8. Asia-Pacific Agrivoltaics Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Array Configuration

8.2.2. By Photovoltaic Technology

8.2.3. By Site of Installation

8.2.4. By Country

8.3. Asia-Pacific: Country Analysis

8.3.1. China Agrivoltaics Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Array Configuration

8.3.1.2.2. By Photovoltaic Technology

8.3.1.2.3. By Site of Installation

8.3.2. India Agrivoltaics Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Array Configuration

8.3.2.2.2. By Photovoltaic Technology

8.3.2.2.3. By Site of Installation

8.3.3. South Korea Agrivoltaics Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Array Configuration

8.3.3.2.2. By Photovoltaic Technology

8.3.3.2.3. By Site of Installation

8.3.4. Japan Agrivoltaics Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Array Configuration

8.3.4.2.2. By Photovoltaic Technology

8.3.4.2.3. By Site of Installation

8.3.5. Australia Agrivoltaics Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Array Configuration

8.3.5.2.2. By Photovoltaic Technology

8.3.5.2.3. By Site of Installation

9. South America Agrivoltaics Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Array Configuration

9.2.2. By Photovoltaic Technology

9.2.3. By Site of Installation

9.2.4. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Agrivoltaics Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Array Configuration

9.3.1.2.2. By Photovoltaic Technology

9.3.1.2.3. By Site of Installation

9.3.2. Argentina Agrivoltaics Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Array Configuration

9.3.2.2.2. By Photovoltaic Technology

9.3.2.2.3. By Site of Installation

9.3.3. Colombia Agrivoltaics Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Array Configuration

9.3.3.2.2. By Photovoltaic Technology

9.3.3.2.3. By Site of Installation

10. Middle East and Africa Agrivoltaics Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Array Configuration

10.2.2. By Photovoltaic Technology

10.2.3. By Site of Installation

10.2.4. By Country

10.3. MEA: Country Analysis

10.3.1. South Africa Agrivoltaics Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Array Configuration

10.3.1.2.2. By Photovoltaic Technology

10.3.1.2.3. By Site of Installation

10.3.2. Saudi Arabia Agrivoltaics Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Array Configuration

10.3.2.2.2. By Photovoltaic Technology

10.3.2.2.3. By Site of Installation

10.3.3. UAE Agrivoltaics Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Array Configuration

10.3.3.2.2. By Photovoltaic Technology

10.3.3.2.3. By Site of Installation

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Porters Five Forces Analysis

13.1. Competition in the Industry

13.2. Potential of New Entrants

13.3. Power of Suppliers

13.4. Power of Customers

13.5. Threat of Substitute Products

14. Competitive Landscape

14.1. Jinko Solar Co., Ltd

14.1.1. Business Overview

14.1.2. Company Snapshot

14.1.3. Products & Services

14.1.4. Financials (As Reported)

14.1.5. Recent Developments

14.1.6. Key Personnel Details

14.1.7. SWOT Analysis

14.2. Invenergy LLC

14.3. Nextracker Inc.

14.4. Iqony Sustainable Energy Solutions

14.5. First Solar, Inc.

14.6. BayWa AG

14.7. Enel Green Power S.p.A.

14.8. Sun’Agri

14.9. Trina Solar

14.10. Lightsource bp

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Agrivoltaics Market in 2023?

The market size of the Global Agrivoltaics Market was estimated to be USD 5.54 Billion in 2023.

Who were the top players operating in the Global Agrivoltaics Market in 2023?

Jinko Solar Co., Ltd, Invenergy LLC, Nextracker Inc., Iqony Sustainable Energy Solutions, First Solar, Inc., BayWa AG, Enel Green Power S.p.A., Sun’Agri, Trina Solar, Lightsource bp, were the top players operating in the Global Agrivoltaics Market in 2023.

What are the challenges faced by the Global Agrivoltaics Market in the upcoming years?

The Global Agrivoltaics Market faces challenges including high initial investment costs, technical complexity in system integration, and potential conflicts between solar panel placement and crop growth,etc,. are the major challenges faced by the Global Agrivoltaics Market in the upcoming years.

What are the major drivers for the Global Agrivoltaics Market?

Rising demand for renewable energy, government policies and incentives, technological advancements, increasing investment in renewable infrastructure, and the need for land use optimization, etc,. are the major drivers for the Global Agrivoltaics Market.

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Sakshi Bajaal

Business Consultant

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Press Release

Agrivoltaics Market to Grow at CAGR of 5.72% through 2029F

Sep, 2024

Enhancement of agricultural productivity and increasing investment in renewable energy infrastructure is expected to drive the Global Agrivoltaics Market growth in the forecast period, 2025-2029.

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