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Strategic partnerships foster knowledge exchange, drive technological advancements, and promote the widespread adoption of agrivoltaic systems. Larger corporations entering into mergers or acquiring agrivoltaic startups can provide significant financial resources for scaling up projects. This contributes to market expansion by allowing for increased investments in research, development, and the deployment of agrivoltaic installations.
Eminent players operating in the agrivoltaic industry are:
Agrivoltaic Solution LLC, Cero Generation Limited, Sun
Europe agrivoltaic industry is expected to register over 6.5% CAGR from 2024 to 2032, due to the increasing demand for solar energy and limited land availability combined with ability to offer shade to crops and potentially mitigate extreme weather conditions in the region.
The fixed system design segment is expected to register over 5% CAGR from 2024 to 2032, owing to the rising need for stable and predictable solar energy generation and the desire for simplified installation processes.
The market size of agrivoltaic was worth USD 5.5 billion in 2023 and is expected to exceed USD 10 billion by 2032, owing to the growing awareness and acceptance of agrivoltaics as a sustainable land-use solution worldwide.