Home > Energy & Power > Electrical Equipment > Solar Parts and Components > Agriculture Solar Water Pumps Market
Agriculture Solar Water Pumps Market Size
Agriculture Solar Water Pumps Market was valued at USD 932.2 million in 2023 and is set to grow at a CAGR of 8.8% from 2024 to 2032. Supportive policies and incentives for renewable energy combined with ongoing technological advancements will positively transform the business landscape.
Agriculture solar water pumps are an innovative and sustainable solution designed to address irrigation needs in farming while reducing dependence on traditional energy sources. Powered by photovoltaic panels, these pumps convert solar energy into electrical energy, which is then used to draw water from various sources such as rivers, wells, or ponds. This technology is particularly beneficial in remote and off-grid areas, where access to electricity is limited or non-existent. Solar water pumps offer a cost-effective alternative to diesel or electric pumps, significantly lowering operational costs and minimizing environmental impact.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 932.2 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 8.8% |
| 2032 Value Projection: | USD 1.99 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 128 |
| Tables, Charts & Figures: | 52 |
| Segments covered: | Product, Technology, Power Rating & Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Agriculture Solar Water Pumps Market Trends
Solar water pumps have become increasingly popular particularly in developing areas with scarce electricity access and unstable grid systems. These areas heavily depend on agriculture for income, and solar water pumps provide an affordable and sustainable method for irrigation, resulting in enhanced crop yields and livelihoods. Additionally, they contribute to the reduction of greenhouse gas emissions and promote the use of renewable energy in agriculture, enhancing water management efficiency and supporting the resilience of farming communities against climate change.
Agriculture Solar Water Pumps Market Analysis
The AC agriculture solar water pumps industry will exceed USD 1.2 billion by 2032. Encouraging policies and incentives to boost renewable energy coupled with ongoing technological advancements is set to profoundly influence the business environment. The initiatives encompass subsidies, tax advantages, and financial aid programs aimed at promoting the uptake of solar-powered irrigation systems will fuel the product penetration. Furthermore, enhancements in solar panel efficiency, sophisticated pump controls and more efficient energy storage solutions will contribute to creating a conducive industry landscape.
The 10 HP - 20 HP agriculture solar water pumps market size will witness a growth rate of over 9% through 2032. Government initiatives aimed at incentivizing the adoption of renewable energy solutions, combined with the integration of these pumps into hybrid systems will drive the industry expansion. These pumps offer an environmentally friendly and effective alternative to conventional grid-powered pumps, resulting in water conservation and lower carbon emissions, thereby enhancing the business landscape.
Asia Pacific agriculture solar water pumps market is set to reach over USD 1 billion by 2032. The growing need for clean and sustainable water solutions coupled with rapid urbanization and industrialization will positively impact the business landscape. Declining solar panel costs in line with increasing fuel prices will enhance the industry potential. Increasing awareness of sustainable water management and the imperative to reduce carbon footprints will fuel the deployment of these products.
Increasing adoption of sustainable agricultural practices along with surging demand for efficient water management solutions will fuel the U.S. agriculture solar water pumps market. Ongoing government incentives along with growing awareness about the benefits of renewable energy sources will contribute to the business expansion. These systems offer a cost-effective and environmentally friendly alternative to traditional diesel or electric pumps, making them particularly attractive to farmers seeking to reduce operational costs and minimize their carbon footprint.
Agriculture Solar Water Pumps Market Share
Crompton Greaves is one of the renowned companies in the field of electrical engineering and solutions, boasting a rich legacy of innovation and reliability. With a steadfast commitment to sustainability and technological advancement, the company has expanded its offerings to include solar water pumps, catering to the growing demand for efficient and eco-friendly agricultural irrigation solutions. Leveraging cutting-edge solar technology, their pumps are designed to harness the power of the sun to deliver consistent water supply to farms and remote areas, reducing reliance on conventional energy sources and mitigating environmental impact. Backed by robust engineering, quality craftsmanship, and a dedication to customer satisfaction, its solar water pumps stand as a testament to the company's ethos of excellence and forward-thinking vision.
Agriculture Solar Water Pumps Market Companies
Eminent players operating in the agriculture solar water pumps industry include:
- Alpex Power
- Aqua Group
- Bright Solar
- Crompton Greaves
- Dankoff Solar
- EcoSoch
- Ecozen
- Franklin Electric
- Grundfos Pumps
- Jakson Group
- KSB SE & Co.
- LORENTZ
- Novergy Energy Solutions
- Oswal
- Shakti Pumps
- Surya International
- Symtech Solar Group
- TATA Solar Power
- US Solar Pumps
- Wenling JINTAI Pump Factory
Agriculture Solar Water Pumps Industry News
- In March 2024, Crompton Greaves sees an uptick after securing a contract for solar water pumping systems. The order entails the supply, installation, and the commission of several 7.5 HP DC, 10 HP AC and 10 HP DC solar PV water pumping systems. The company has obtained a letter of empanelment from MSEDCL for 2,500 solar pumping systems in Maharashtra.
- In March 2023, TATA Solar Power and ISS Global have inked a memorandum of understanding aimed at advancing the uptake of clean and sustainable energy solutions across India. The partnership's primary goal is to employ renewable energy sources to fuel all ISS India campuses while introducing TPREL's environmentally friendly solutions and products. Additionally, within this collaboration, the emphasis will be on promoting sustainable lifestyles through the integration of IoT-based home automation products. These innovative devices empower users to remotely manage and control electrical appliances via a mobile application or voice commands, thereby augmenting both convenience and energy efficiency.
This agriculture solar water pumps market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Product
- Submersible Pump
- Surface Pump
Market, By Technology
- AC Pumps
- DC Pumps
Market, By Power Rating
- < 5 HP
- 5 HP - 10 HP
- 10 HP - 20 HP
- > 20 HP
The above information has been provided for the following regions and country:
- North America
- U.S.
- Canada
- Europe
- UK
- France
- Germany
- Russia
- Spain
- Italy
- Netherlands
- Poland
- Sweden
- Asia Pacific
- China
- India
- Australia
- Philippines
- Japan
- New Zealand
- Indonesia
- Thailand
- Malaysia
- Middle East & Africa
- Saudi Arabia
- Iran
- Egypt
- Turkey
- South Africa
- Nigeria
- Latin America
- Brazil
- Argentina
- Peru
- Mexico
Frequently Asked Questions (FAQ) :