PUBLISHER: Roots Analysis | PRODUCT CODE: 1920850
PUBLISHER: Roots Analysis | PRODUCT CODE: 1920850
As per Roots Analysis, the global agrivoltaics market size is estimated to grow from USD 5.26 billion in the current year USD 18.4 billion by 2035, at a CAGR of 12% during the forecast period, till 2035.

The opportunity for agrivoltaics market has been distributed across the following segments:
Type of System Design
Type of Technology
Type of Crop
Type of Placement
Type of Application
Geographical Regions
Agrivoltaics Market: Growth and Trends
Agrivoltaics, often referred to as agrophotovoltaics or dual-use solar, involves using the same land for both solar energy generation and agricultural purposes. This cutting-edge method combines solar panels with farming, providing an eco-friendly solution for energy production alongside agriculture. Some key benefits of agrivoltaics are improved crop yields, protection for crops and livestock from extreme weather, and the opportunity for farmers to have multiple income sources.
The capacity to produce solar energy while sustaining agricultural productivity is a significant motivation behind the growing adoption of agrivoltaics systems. Additionally, agrivoltaics can assist farmers in fulfilling their energy needs, decreasing reliance on inconsistent grid power. Agrivoltaics is becoming increasingly important in agriculture, especially for the detection and identification of objects beneath the water's surface. Recent advancements in agrivoltaics technology feature creative designs such as solar greenhouses and photovoltaic modules positioned between rows of crops. Importantly, the incorporation of data analytics and IoT technology is crucial, as sensors and IoT devices gather real-time information about crop health, microclimate, and energy output, turning this data into actionable insights for farmers.
Innovations in solar panel design are leading to the creation of more efficient and durable PV panels specifically optimized for agrivoltaics, which enhance light transmission and shading to lessen impacts on crop yields. As a result, considering the above mentioned factors, the agrivoltaics market is expected to grow at a steady pace during the forecast period.
Agrivoltaics Market: Key Segments
Based on type of system design, the global agrivoltaics market is segmented into dynamic panel and fixed panel. According to our estimates, currently, the dynamic panel segment captures the majority of the market share. This is due to their ability to optimize solar energy production and enhance crop yields by adjusting to follow the sun, thus maximizing sunlight exposure for crops.
On the other hand, the fixed panel segment is projected to experience a relatively higher CAGR during the forecast period. This growth can be attributed to their suitability for permanent installations, durability against weather conditions, minimal maintenance requirements, and cost-effectiveness.
Based on type of technology, the global agrivoltaics market is segmented into bifacial solar panels, monofacial solar panels and translucent photovoltaic. According to our estimates, currently, the monofacial solar panels segment captures the majority of the market share. Additionally, this segment is expected to experience a relatively higher growth rate during the forecast period, owing to their affordability and dependable approach to integrating solar energy into agricultural practices.
Based on type of crop, the global agrivoltaics market is segmented into fruits, root crops, vegetables and other crops. According to our estimates, currently, the root crops segment captures the majority of the market share. This is due to their capability to flourish in the partially shaded conditions created by solar panels.
Based on type of placement, the global agrivoltaics market is segmented into greenhouses, ground mounted and shading nets. According to our estimates, currently, the ground mounted segment captures the majority of the market share. This growth can be attributed to their compatibility with areas that have plenty of open space and limited sunlight, where agrivoltaics systems may not be viable. Ground-mounted systems also provide improved flexibility in terms of orientation and tilt, which enhances energy production efficiency.
Based on type of application, the global agrivoltaics market is segmented into grassland farming, horticulture and arable farming, indoor farming and pollinator habitat. According to our estimates, currently, the pollinator habitat segment captures the majority of the market share. Moreover, this segment is projected to grow at a higher CAGR during the forecast period. This growth can be attributed to the growing awareness of pollinator decline, the increased sustainability and ecological advantages they provide to solar energy projects, and their comparatively lower costs relative to other agrivoltaic applications in sustainable agriculture.
Based on geographical regions, the agrivoltaics market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently North America captures the majority share of the market. Conversely, the market in Asia is expected to grow at a higher CAGR during the forecast period. The primary factors driving this rapid growth include increasing awareness of climate change, the necessity for sustainable farming methods, and government measures promoting renewable energy.
Agrivoltaics Market: Research Coverage
The report on the agrivoltaics market features insights on various sections, including:
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