MarkNtel Advisors recently published a detailed industry analysis of the Asia-Pacific Agrivoltaic Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Asia-Pacific Agrivoltaic Market (2023-2028)
The Asia-Pacific Agrivoltaic market is projected to grow at a CAGR of around 35% during the forecast period, i.e., 2023-28.
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What is driving the Asia-Pacific Agrivoltaic market?
Rising Water Scarcity Concerns & Rapid Climate Change – With the rapidly growing population of countries such as China, India, Pakistan, Indonesia etc., regional food production is expected to increase in the future. The rapid climate changes like rising temperature levels & reduced precipitation, coupled with mounting water scarcity concerns for agriculture sectors in the region, would surge the demand for agrivoltaics in future periods.
In addition, the shifting focus toward adopting this technology enables the effective use of sunlight for crop growth. Moreover, a grave effect of climate change has been faced by the farming sector in terms of either heavy rains or heat waves. Hence, the agrivoltaic industry offers several benefits in the agricultural sector & farmers’ earnings from power generation & has positively influenced the overall market growth. For instance:
- In 2022, the Central Arid Zone Research Institute (CAZRI) launched a project ‘Agrivoltaics,’ in Northern India, as high temperatures have damaged farm crops & increased weeds, pests, and fungi. After the implementation of the new system, the farm has seen an upsurge in wheat tillers per square meter from under the solar panels as compared to the rest of the field.
Moreover, with the swift climate changes, consumers used water for agricultural purposes, and there would not be enough water to meet the booming food requirements in the future. Therefore, ascending water scarcity is one of the crucial challenges that could hinder the growing demand for food production. As a result, there is an extreme need for an effective solution like agrivoltaics that helps to meet the desired food demand by overcoming the challenge of water scarcity, thus influencing the market growth in the following years.
What segments define the Asia-Pacific Agrivoltaic market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Placement
(Standalone, Shading Nets, Greenhouse, Others),
By Material Type
(Panels, Paints),
By Cell Type
(Monocrystalline, Polycrystalline),
By Crop Collaboration
(Vegetables, Fruits, Crops, Others),
By Type of Agrivoltaic Plant
(Overhead Tilted, Interspace, Hybrid),
By Type of Solar Panel
(Opaque, Semi Transparent, Transparent),
By Power Output
(Upto 10 MWp, 10.1 to 50 MWp, More than 50 MWp),
By Countries
(China, India, South Korea, Japan, Australia, Southeast Asia, Rest of Asia-Pacific)
Explore the Complete Asia-Pacific Agrivoltaic Market Analysis Report – https://www.marknteladvisors.com/research-library/apac-agrivoltaic-market.html
Who are the leading key players shaping the Asia-Pacific Agrivoltaic Market landscape?
Enel Green Power, JS Power, Sun’ Agri, Solar Window, BayWa r.e., Akira Nagashima, REM Tec, SolarFarm. Ltd., Next2Sun, Others
Questions Addressed in this Study
1.What factors are driving the Asia-Pacific Agrivoltaic Market growth?
2.How is the Asia-Pacific Agrivoltaic Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Asia-Pacific Agrivoltaic Market?
4.What is the current size of the Asia-Pacific Agrivoltaic Market, and how is it projected to change in the future?
6.What is the future outlook for the Asia-Pacific Agrivoltaic Market in terms of technological advancements and market expansion?
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