Asia-Pacific Agrivoltaic Market Demand, Drivers and Opportunities 2023-2028

Markntel Advisors’ report, Asia-Pacific Agrivoltaic Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Asia-Pacific Agrivoltaic presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Asia-Pacific Agrivoltaic Market Research Report & Market Summary:

The Asia-Pacific Agrivoltaic market is projected to grow at a CAGR of around 35% during the forecast period, i.e., 2023-28. The region has shown commendable growth for the market in the historical period, i.e., 2018-2022. Some of the factors that have contributed to the development have been the rising concerns about climate change, shifting electricity production from non-renewable sources to renewable sources, government initiatives to assist the adoption of this technology, etc.

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Asia-Pacific Agrivoltaic Market Dynamics:

Key Driver-

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.

Asia-Pacific Agrivoltaic Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Placement

• Standalone
• Shading Nets
• Greenhouse
• Others (Solar Fence, Solar Windows, etc.)

By Material Type

• Panels
• Paints

Panels have been the highlight of the market. The solar panel has been a popular source of renewable energy in Asia-Pacific countries like China, India, Malaysia, etc., where the majority share has been captured by solar panels over the past few years.

By Cell Type

• Monocrystalline
• Polycrystalline

Monocrystalline Photovoltaic (PV) cell modules have gained notable market share during the historical period, owing to the greater efficiency provided by the monocrystalline over polycrystalline PV cell modules.

By Crop Collaboration

• Vegetables
• Fruits
• Crops
• Others (Herbs, etc.)

Here, Vegetables accounted for a sizeable demand for the deployment of agrivoltaics in the Asian region. The countries in the region, including India, China, Thailand, Vietnam, Bangladesh, South Korea, etc., have high levels of vegetable production & exports, for vegetables, such as potato, brinjal, cabbage, broccoli, onion, garlic, among others, due to which the implementation of this technology have been observed to be high, as compared to fruits.

By Type of Agrivoltaic Plant

• Overhead Tilted
• Interspace
• Hybrid

By Type of Solar Panel

• Opaque
• Semi Transparent
• Transparent

By Power Output

• Upto 10 MWp
• 1 to 50 MWp
• More than 50 MWp

By Countries

• China
• India
• South Korea
• Japan
• Australia
• Southeast Asia
• Rest of Asia-Pacific.

Of all the countries across the region, China held a dominant position in the Asia-Pacific Agrivoltaics market during 2018-2022. China is one of the largest producers & consumers of food crops globally.

As indicated in the latest market research report published by Markntel Advisors, “Asia-Pacific Agrivoltaic Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Asia-Pacific Agrivoltaic industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/apac-agrivoltaic-market.html

Top Companies Operating in the Asia-Pacific Agrivoltaic Market:

• Enel Green Power
• JS Power
• Sun’ Agri
• Solar Window
• BayWa r.e.
• Akira Nagashima
• REM Tec
• Ltd.
• Next2Sun
• Others.

*Reports Delivery Format – Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*

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Key Report Highlights:

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Frequently Asked Questions (FAQs)-

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What leading factors would propel and impede the industry across the geography?
4. How has the industry been evolving in terms of geography & Asia-Pacific Agrivoltaic Market adoption?
5. How has the competition been shaping up across the geography?

6. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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