Exploring Agrivoltaics Market Opportunity, Latest Trends, Demand, and Development By 2030- MarkNtel Advisors

 According to Markntel Advisors Report, Agrivoltaics Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Rapid changes in the global climate are enlightening the vulnerabilities of food, energy, & water system. With the burgeoning population & its food requirements, access to food has to be drastically improved. In this context, Agrivoltaics is one of the ideas gaining immense interest. It means combining food & energy production, i.e., putting solar farms in the field where crops are also grown. It shall help increase the environmental compatibility and benefits of developing solar plants with agriculture & native landscapes.

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Global Agrivoltaics Market Research Report & Summary:

The Global 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.        

Time Period Captured in the Report:

·         Historical Years: 2019-22

·         Base Years: 2023

·         Forecast Years: 2024-2030

Who are the Key Players Operating in the Agrivoltaics Market?

The top companies of the Agrivoltaics Market ruling the industry are: 

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

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Agrivoltaics Industry Recent Development:

·         A 2021 amendment to the German Renewable Energy Act has scheduled a 50 MW tender with the more cost-competitive rooftop & floating photovoltaic on parking lots till April 2022.

What is Included in Agrivoltaics Market Segmentation?

The Agrivoltaics Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-By Placement

-Standalone

-Shading Nets

-Greenhouse

-Others (Solar Fence, Solar Windows, etc.)

-By Material Type

-Panels

-Paints

-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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Market Dynamics -Global Agrivoltaics Market:

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.

Mounting Carbon Emissions from Power Generation Industry to Generate Significant Growth Opportunities - With the mounting demand for power in different applications, the risk of high-level carbon emissions from the power generation industry is increasing dramatically. Many nations worldwide, especially in the Asia Pacific, have introduced plans to curb carbon emissions and promote using clean electricity. Such rising initiatives and support from the government toward limiting the carbon emissions from the power generation sector are projected to boost the Agrivoltaics market in the coming years.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm 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.

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