Agrivoltaics Market Immense Development Trends and High Potential Growth across the Globe by 2030

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According to HTF Market Intelligence, the global Agrivoltaics market is valued at USD 2.6 Billion in 2023 and estimated to reach a revenue of USD 9.5 Billion by 2030, with a CAGR of 19% from 2023 to 2030.

Agrivoltaics Market Overview

Agrivoltaics is the practice of integrating photovoltaic (solar) panels with agricultural activities. This innovative approach allows for dual use of land for both farming and energy generation, optimizing space utilization while providing sustainable energy. It is an emerging technology aiming to provide solutions to climate change by producing solar energy and promoting sustainable agricultural practices. Agrivoltaic systems can help reduce water usage in agriculture by providing shade to crops, increase farm productivity, and contribute significantly to renewable energy generation.

Some of the companies listed in the study from the complete survey list are UnitedHealth Group (United States), Aetna (CVS Health) (United States), Cigna Corporation (United States), Humana Inc. (United States), Anthem, Inc. (United States), Kaiser Permanente (United States), Bupa (United Kingdom), Allianz Partners (France), Axa (France), Mapfre (Spain), Tokio Marine HCC (United States), International Medical Group (IMG) (United States), Seven Corners, Inc. (United States), HCC Medical Insurance Services (Tokio Marine HCC)- (United States), IMG Global (United States).

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Market Trends

Integration of renewable energy with agriculture, hybrid systems.

Market Drivers

Rising need for sustainable agriculture and renewable energy solutions

Market Opportunities:

Increasing population and transition to clean energy sources

Adoption and investment in agricultural electricity

Agrivoltaics Market Segmentation

The Agrivoltaics Market is Segmented by Application (Horticulture, Agriculture, Aquaculture) by Type of Agriculture (Crop Farming, Livestock Farming) by System Type (Fixed Solar Panels, Solar Tracking Systems) by Component Type (Solar Panels, Mounting Structures, Tracking Systems, Inverters, Others) by Technology (Concentrated Solar Power (CSP), Photovoltaic (PV)) and by Geography (North America, South America, Europe, Asia Pacific, MEA)

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