Asia-Pacific Agrivoltaics Market:Focus on Product and Country - Analysis and Forecast, 2023-2033

Asia-Pacific Agrivoltaics Market:Focus on Product and Country - Analysis and Forecast, 2023-2033


Introduction to Asia–Pacific Agrivoltaics Market

The Asia–Pacific agrivoltaics market is projected to reach $6,002.3 million by 2033 from $654.8 million in 2023, growing at a CAGR of 24.80% during the forecast period 2023-2033. Companies in the APAC agrivoltaics sector can capitalize on this growing opportunity by implementing innovative technologies, forming strategic alliances with farmers and solar energy providers, and leveraging government incentives and renewable energy policies. To capitalize on the growing market, research and development expenditures as well as the construction of a strong production infrastructure are essential.

Businesses can position themselves as leaders in agriculturally specific sustainable energy solutions by putting these strategies into practice. In addition to advancing the region's renewable energy objectives, this strategy takes into account the changing needs of APAC's farmers and energy users. Businesses can significantly influence the direction of agrivoltaics while generating economic and environmental advantages for the area by collaborating and innovating.

Market Introduction

The market for agrivoltaics in Asia Pacific is expanding significantly due to the need to meet the demands for renewable energy sources and increase agricultural productivity. The integration of solar panels with agricultural practices, or agrivoltaics, offers a creative way to address the region's land-use issues. This strategy helps APAC nations strike a balance between their commitments to renewable energy and food security by fusing farming and energy generation.

Growing awareness of climate change, the need for sustainable agricultural practices, and government initiatives to support renewable energy are major factors propelling the market's expansion. A number of APAC countries, such as China, Japan, and India, are putting policies and subsidies in place to promote agrivoltaic installations because they see how they can optimize land use and benefit both farmers and energy producers.

Technological developments in energy storage systems and solar panel design are also driving the market. There are increasingly lightweight, transparent, and movable panels that maximize crop light penetration while producing electricity. Furthermore, cooperation amongst local farmers, energy suppliers, and agritech firms is encouraging innovation and uptake.

The market for agrivoltaics is expected to grow rapidly as the APAC region continues to place a high priority on sustainability. It presents a viable route to energy resilience and agricultural efficiency in the face of escalating resource and climate challenges.

Market Segmentation

Segmentation 1: by Array Configuration

Fixed
Single-Axis Tracking

Segmentation 2: by Photovoltaic Technology

Monofacial Solar Panels
Bifacial Solar Panels
Translucent Photovoltaic Technology
Others

Segmentation 3: by Site of Installation

Grassland Farming
Horticulture and Arable Farming
Indoor Farming
Pollinator Habitat

Segmentation 4: by Country

China
Japan
India
South Korea
Rest-of-Asia-Pacific

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different applications of agrivoltaics products in the market. The market is poised for significant expansion with ongoing technological advancements, increased investments, and growing awareness of the use of agrivoltaics. Therefore, agrivoltaics are a high-investment and high-revenue generating model.

Growth/Marketing Strategy: The apac agrivoltaics market is growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships and collaborations.

Competitive Strategy: The key players in the apac agrivoltaics market analyzed and profiled in the study include agrivoltaics projects. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.

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Executive Summary
Scope and Definition
1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Potential for Rural Electric Vehicle Charging
1.1.2 Increasing Demand for Renewable Energy
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Company)
1.3.2 Patent Filing Trend (by Country)
1.4 Regulatory Landscape
1.5 Market Dynamics Overview
1.5.1 Market Drivers
1.5.1.1 Dual-Revenue Streams for Farmers
1.5.1.2 Agrivoltaics as a Sustainable Solution for Agriculture
1.5.2 Market Restraints
1.5.2.1 High Installation Costs
1.5.2.2 Limited Compatibility to Certain Crops
1.5.3 Market Opportunities
1.5.3.1 Reduced Emissions through Improved Farm Electrification
1.5.3.2 Increased Government Initiatives to Boost R&D in Agrivoltaics
2 Regions
2.1 Regional Summary
2.2 Asia-Pacific
2.2.1 Regional Overview
2.2.2 Driving Factors for Market Growth
2.2.3 Factors Challenging the Market
2.2.4 Product
2.2.5 China
2.2.6 India
2.2.7 Japan
2.2.8 South Korea
2.2.9 Rest-of-Asia-Pacific
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Next Frontiers
3.2 Geographic Assessment
3.2.1 Jinko Solar
3.2.1.1 Overview
3.2.1.2 Top Project Portfolio
3.2.1.3 Top Competitors
3.2.1.4 Target Customers
3.2.1.5 Key Personnel
3.2.1.6 Analyst View
3.2.1.7 Market Share, 2023
3.2.2 Trinasolar
3.2.2.1 Overview
3.2.2.2 Top Project Portfolio
3.2.2.3 Top Competitors
3.2.2.4 Target Customers
3.2.2.5 Key Personnel
3.2.2.6 Analyst View
3.2.2.7 Market Share, 2023
3.2.3 Yingli Solar
3.2.3.1 Overview
3.2.3.2 Top Project Portfolio
3.2.3.3 Top Competitors
3.2.3.4 Target Customers
3.2.3.5 Key Personnel
3.2.3.6 Analyst View
3.2.3.7 Market Share,2023
4 Research Methodology
4.1 Data Sources
4.1.1 Primary Data Sources
4.1.2 Secondary Data Sources
4.1.3 Data Triangulation
4.2 Market Estimation and Forecast
List of Figures
Figure 1: Agrivoltaics Market (by Region), $Million, 2023, 2026, 2033
Figure 2: Pricing Analysis for Agrivoltaics Market (Region), $ per KW/h, 2023, 2026, and 2033
Figure 3: Asia-Pacific Agrivoltaics Market (by Site of Installation), $Million, 2023, 2026, and 2033
Figure 4: Asia-Pacific Agrivoltaics Market (by Array Configuration), $Million, 2023, 2026, and 2033
Figure 5: Asia-Pacific Agrivoltaics Market (by Photovoltaic Technology), $Million, 2023, 2026, and 2033
Figure 6: Key Events
Figure 7: Supply Chain and Risks within the Supply Chain
Figure 8: Agrivoltaics Market (by Company), January 2020-March 2024
Figure 9: Agrivoltaics Market (by Country), January 2020-March 2024
Figure 10: Impact Analysis of Market Navigating Factors, 2023-2033
Figure 11: Estimated Average Carbon Emission and Fossil Energy Demand in Agrivoltaics and Conventional Farm
Figure 12: China Agrivoltaics Market, $Million, 2022-2033
Figure 13: India Agrivoltaics Market, $Million, 2022-2033
Figure 14: Japan Agrivoltaics Market, $Million, 2022-2033
Figure 15: South Korea Agrivoltaics Market, $Million, 2022-2033
Figure 16: Rest-of-Asia-Pacific Agrivoltaics Market, $Million, 2022-2033
Figure 17: Strategic Initiatives, 2020-2024
Figure 18: Share of Strategic Initiatives, 2020-2024
Figure 19: Data Triangulation
Figure 20: Top-Down and Bottom-Up Approach
Figure 21: Assumptions and Limitations
List of Tables
Table 1: Market Snapshot
Table 2: Opportunities across Regions
Table 3: Recent Initiatives in Agrivoltaics
Table 4: Agrivoltaics Market (by Region), $Million, 2022-2033
Table 5: Asia-Pacific Agrivoltaics Market (by Array Configuration), $Million, 2022-2033
Table 6: Asia-Pacific Agrivoltaics Market (by Photovoltaic Technology), $Million, 2022-2033
Table 7: Asia-Pacific Agrivoltaics Market (by Site of Installation), $Million, 2022-2033
Table 8: China Agrivoltaics Market (by Array Configuration), $Million, 2022-2033
Table 9: China Agrivoltaics Market (by Photovoltaic Technology), $Million, 2022-2033
Table 10: China Agrivoltaics Market (by Site of Installation), $Million, 2022-2033
Table 11: India Agrivoltaics Market (by Array Configuration), $Million, 2022-2033
Table 12: India Agrivoltaics Market (by Photovoltaic Technology), $Million, 2022-2033
Table 13: India Agrivoltaics Market (by Site of Installation), $Million, 2022-2033
Table 14: Japan Agrivoltaics Market (by Array Configuration), $Million, 2022-2033
Table 15: Japan Agrivoltaics Market (by Photovoltaic Technology), $Million, 2022-2033
Table 16: Japan Agrivoltaics Market (by Site of Installation), $Million, 2022-2033
Table 17: Profits Attained from Rice Farming and the Profit from the PV Power
Table 18: South Korea Agrivoltaics Market (by Array Configuration), $Million, 2022-2033
Table 19: South Korea Agrivoltaics Market (by Photovoltaic Technology), $Million, 2022-2033
Table 20: South Korea Agrivoltaics Market (by Site of Installation), $Million, 2022-2033
Table 21: Rest-of-Asia-Pacific Agrivoltaics Market (by Array Configuration), $Million, 2022-2033
Table 22: Rest-of-Asia-Pacific Agrivoltaics Market (by Photovoltaic Technology), $Million, 2022-2033
Table 23: Rest-of-Asia-Pacific Agrivoltaics Market (by Site of Installation), $Million, 2022-2033
Table 24: Market Share, 2022

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