Pune, April 13, 2023 (GLOBE NEWSWIRE) -- A global Energy and Power business-consulting firm, Maximize Market research, has published a market intelligence and competitive landscape report on the “Agrivoltaics Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Agrivoltaics Market from a local as well as a global point of view. Over the forecast period, Maximize Market research expects, the market to grow from USD 3.66 Bn in 2021 to USD 7.96 Bn in 2029 at a CAGR of 10.2 percent.
Agrivoltaics Market Report Scope and Research Methodology
| Market Size in 2022 | USD 3.66 Bn. |
| Market Size in 2029 | USD 7.96 Bn. |
| CAGR | 10.2 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 291 |
| No. of Tables | 119 |
| No. of Charts and Figures | 114 |
| Segment Covered | System Design, Cell Type and Crop |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report is a clear representation of the Agrivoltaics industry in simple language. A detailed analysis in the report includes qualitative and quantitative analysis of the market estimations, trends and dynamics from 2023 to 2029 to identify the prevailing opportunities during the forecast period. The dynamics section in the report includes drivers, restraints, major challenges and growth opportunities, which makes the Agrivoltaics market report an investors’ guide. The research was done by dividing the Agrivoltaics Market into three major segments which were further divided into various sub-segments. These market segmentation helps to analysis the Agrivoltaics market in-depth. The report by Maximize Market research helps to determine the current and the future potential of the Agrivoltaics industry.
The bottom-up approach was used to estimate the regional and global Agrivoltaics Market size. The Agrivoltaics Market report includes a PESTLE analysis, which aids in the development of company strategies. Political variables help to understand the influence of the government on the market. The legal factors help to understand the influence of environmental concerns and the impact of surrounding environment on the Agrivoltaics Market. SWOT analysis was employed to provide the strengths and weaknesses of the Agrivoltaics key players in the industry.
Agrivoltaics Market Dynamics
The key factors driving the market growth are the increased advancement in the food production and redued water usage along with additional income from photovoltaic panels and justifiable energy generation. The Agrivoltaics Market growth is majorly driven by the increasing research and development because of the high investments from private players and government. The increasing advancements in the farming techniques is also driving the growth of the market. The factors that are creating various growth opportunities for the market are the increasing demand of latest healthcare facilities among the population in developing countries and increasing acceptance of advanced equipment and technologies among people.
The high installation costs due to costly solar PV modules and the lack of awareness of agrivoltaics systems, the market growth is expected to be hampered during the forecast period.
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Agrivoltaics Market Regional Insights
The Europe region dominated the global Agrivoltaics Market in 2022. This is due to the shortage of the farmlands expansion along with the huge adoption of agrivoltaics system in the region.
The Agrivoltaics Market in the North America region is the second largest growing market across the world. This growth of the regional market is due to the large number of technological interventions in agricultural techniques.
Agrivoltaics Market Segmentation
By System Design
- Fixed Solar Panles
- Dynamic
Based on System Design, the Fixed solar panles segment held the dominant position in 2022 and is expected to retain this trend during the forecast period.
By Cell Type
- Monocrystalline
- Polycrystalline
Based on Cell Type, the monocrystalline segment dominated the global Agrivoltaics Market in 2022 and is expected to continue this trend during the forecast period.
By Crop
- Vegetables
- Fruits
- Crops
- Others
Based on Crop, the crops segment held the largest Agrivoltaics Market share in 2022 and is expected to grow at a high rate during the forecast period.
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Agrivoltaics Key Competitors include:
- DualSun
- SOLARWATT
- SunPower Corporation
- Trina Solar
- Suntech
- Huawei Technologies Co., Ltd
- Enel Green Power
- Voltalia
- Ecovoltaics
- Sunseap Group
- Soltec
- Agrivoltaic Solutions LLC
- JA Solar
- Sun' Agri
- Solar Window
- Akuo Energy
- BayWa r.e.
- Insolight
- REM Tec
- Zimmermen
- Next2Sun
- Others
Key questions answered in the Agrivoltaics Market are:
- What was the Agrivoltaics Market size in 2022?
- What is expected Agrivoltaics Market size by 2029?
- Which segment of the Agrivoltaics Market is expected to grow at a high rate during the forecast period?
- What are the major restraints for the Agrivoltaics Market growth?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Agrivoltaics Market?
- How is the intervention from regulatory authority is shaping the Agrivoltaics Market?
- What growth strategies are the players considering to increase their presence in Agrivoltaics?
- Who are the leading companies and what are their portfolios in Agrivoltaics Market?
- What are the major challenges that the Agrivoltaics Market could face in the future?
- Who held the largest market share in Agrivoltaics Market?
- Which regional Agrivoltaics Market is expected to grow at a high rate during the forecast period?
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Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2022)
- Past Pricing and price curve by region (2017 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by System Design, Cell Type, Crop and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Energy and Power research firm, has also published the following reports:
Photovoltaic Market - The market size is expected to reach USD 154.40 billion by 2029 at a CAGR of 8.1 percent during the forecast period. The market is expected to be driven by the increasing adoption in applications such as rooftop and building integrated systems, rural electrification, solar farms, power stations and others.
Farm Equipment Market - The market size is expected to reach USD 3.73 million units by 2029 at a CAGR of 4.8 percent during the forecast period. The market is expected to be driven by the increasing adoption of automatic and semiautomatic agricultural equipment.
Precision Farming Market - The market size is expected to reach USD 20.02 billion by 2029 at a CAGR of 12.9 percent during the forecast period. The market is expected to be driven by the increasing government support for adopting new agricultural practices along with the increasing requirement for effective crop health monitoring.
Agriculture Equipment Market - The market size is expected to reach USD 188.03 billion by 2029 at a CAGR of 6.0 percent during the forecast period. The market is expected to be driven by the growing population resulting into the increase in the food production.
Vertical Farming Market - The market size is expected to reach USD 15.78 billion by 2029 at a CAGR of 18.6 percent during the forecast period. The market is expected to be driven by the increasing popularity of organic food and ease of crop monitoring.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic System Designs, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
