According to the report analysis, ‘Agrivoltaic Market: Current Analysis and Forecast (2021-2027)’ states that surging population across the world, restricted availability of land for cultivation coupled with growing energy requirement are proliferating the market size of agrivoltaic. In addition, augmenting the population resulted in increasing the need to nearly double the present food production to encounter that future requirement. Therefore, agrivoltaic system promises to enhance the food production and decrease the water use, while also generating energy and additional revenue. Hence, market requirement for agrivoltaic is projected to increase at proliferating rate in the reviewed period as it helps to encounter the future demand by augmenting more food, and using less water, while also generating the sustainable energy at the same time.
Moreover, the ongoing humanity crises and climate change during near future require immediate planning to endure the production of food and agrivoltaic solution assists in boosting the production of food, enhances water savings and improve the efficiency of electricity production which projected to escalate the market size of agrivoltaic market in the forecasted duration.
Some of the key players operating in the market involve Agrivoltaic Solution LLC, Sun Agri, REM TEC, Enel Green Power, Boralex, Fraunhofer ISE, Solar Power Europe, Mackin Energy, Sunrise Power, Suntech. Several M&A’s along with partnerships have been undertaken by these players to boost their existence in different regions. These key companies in the agrivoltaic market are actively working for keep maintaining the governing position, spreading the awareness connected to the applications and advantages of agrivoltaic, increasing the features and benefits of agrivoltaic, decreasing the associated prices, delivering the better customer satisfaction, analysing the strategies and policies of government as well as contenders, implementing the policies of profit making and strategies of expansion, establishing the several research and development programs and improving the qualitative and quantitative measures of such.
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Based on system design, the agrivoltaic market is classified into fixed solar panel over crops and dynamic agrivoltaic. The fixed solar panel over crops caters sector catered significant requirement in agrivoltaic market. It is the most predictable systems install fixed solar panels on agricultural greenhouses, above open fields crops or between open fields crops. It also helps in optimizing the installation by amending the density of solar panels or the inclination of the panels.
Based on crop types, the agrivoltaic market is categorized into leafy greens, root crops, fruits. The leafy green segment controls the considerable market share. As agrivoltaic is appropriate for those crops which require restricted sunlight and crops such as lettuces, tomatoes, peppers, chard, kale, broccoli and Brussels sprouts grow effectively under agrivoltaic technology.
For a better understanding of the market implementation of agrivoltaics, the market is analyzed based on its worldwide existence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), and Rest of World. Europe projected to hold proficient market share in agrivoltaic predominantly owing to shortage of agricultural land growing and agrivoltaic technology in European regions assisting to boost food production and proficiency of the crop.
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Ankur Gupta, Head Marketing & Communications