Get a free sample of Agrivoltaic Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of Agrivoltaic Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Agrivoltaic Market Size
Agrivoltaic Market was valued at USD 5.5 billion in 2023 and is anticipated to grow at a CAGR of over 5.9% from 2024 to 2032. Agrivoltaic, also known as agro-photovoltaics, refers to the combined use of agriculture and solar photovoltaic (PV) systems on the same area of land. In an agrivoltaic system, solar panels are installed above or alongside agricultural crops, creating a dual use of the land for both solar energy generation and crop cultivation.
These systems optimizing land utilization in line with growing awareness and acceptance of agrivoltaics as a sustainable land-use solution will drive the business growth. Moreover, agrarian economies hold high potential for the utilization of these systems.
Who are the key agrivoltaic industry players?
Agrivoltaic Solution LLC, Cero Generation Limited, Sun
What factors are influencing agrivoltaic market growth in Europe?
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.
Why is the fixed agrivoltaics market growing?
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.
How big is the agrivoltaic market?
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.