Market Research Future (MRFR) has published a cooked research report on the “Global Solar Powered Irrigation System Market ”that contains information from 2018 to 2032.The solar powered irrigation system market is estimated to register a CAGR of 8.80%during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global solar powered irrigation system market— Lorentz (Germany), Jain Irrigation Systems (India), Netafim (Israel), Grundfos (Denmark), Solar Water Solutions (Kenya), Bright Solar (China), Shakti Pumps (India), CRI Pumps (India), Dankoff Solar Pumps (United States), Rainbow Power Company (Australia), Sunray Power (China), Tata Power Solar Systems (India)
Solar Powered Irrigation System MarketHighlights
The global solar powered irrigation system market is accounted to register a CAGR of 8.80%during the forecast period and is estimated to reach USD 125.6 billion by 2032.
Concerns over their supply and growing costs of fossil fuels have prompted a shift towards renewable energy sources, which are less expensive to consume and less harmful to the environment. The agriculture sector, which has traditionally relied on diesel or hydroelectric energy for farming activities, is driving the rise of the solar powered irrigation system market. These systems have the potential to boost agricultural output, improve food security, and promote rural development.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Solar Powered Irrigation System Market Trends
Segment Analysis
The global solar powered irrigation system market has been segmented based type, component and application
On the basis of type, the market is segmented into Drip Irrigation, Sprinkler Irrigation and Surface Irrigation. Drip irrigation is the industry leader in solar powered irrigation system in 2022. It is the most extensively utilized and efficient method of water conservation and agriculture irrigation.
Based on component, the global solar powered irrigation system market has been segmented into solar panel, pump controller, submersible water pump and inverter. Solar panels are the industry's fastest growing category in the market. Solar panels are essential for capturing solar energy and turning it into electricity to run the irrigation system. Solar panels are at the forefront of this growth since they are crucial components that allow the system to operate correctly and effectively.
The worldwide solar powered irrigation system market has been divided into two applications: agriculture irrigation and landscaping & gardening. Agriculture irrigation has the greatest compound annual growth rate (CAGR) in the industry. It is rapidly evolving as a result of the rising requirement for efficient water management in agriculture to fulfill increased food production needs. Irrigation systems in agriculture attempt to reduce water usage, boost agricultural output, and encourage environmentally friendly farming practices.
Regional Analysis
The global solar powered irrigation system market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe solar powered irrigation system market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The solar powered irrigation system marketin Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World solar powered irrigation system market comprises of Middle East, Africa, and Latin America.
North America is the market leader for Solar Powered Irrigation Systems. North America has been at the forefront of renewable energy adoption and has made great advances in solar technology. The region places a major emphasis on sustainability and lowering dependency on traditional energy sources. Furthermore, favourable government policies and incentives for renewable energy have boosted the use of Solar Powered Irrigation Systems. The presence of well-established agricultural methods and the need for efficient water management in farming contribute to North America's supremacy in this sector.
In addition, due to its strong dedication to renewable energy and sustainability, Europe is the second largest area in the Solar Powered Irrigation System market. The region has put in place laws and incentives to encourage the use of solar-powered irrigation systems. Furthermore, Europe has a well-established agricultural industry that understands the need of efficient water management and minimizing environmental damage. These factors have aided Europe's growth and dominance in the Solar Powered Irrigation System industry.
Asia Pacific is the fastest expanding region. This is primarily owing to the rapid adoption of solar-powered irrigation systems in countries such as India and China, where agriculture is important to the economy. Factors such as rising population, rising food consumption, and government attempts to promote sustainable farming techniques are propelling the market in this region forward. Furthermore, advances in solar technology and lower solar panel costs are making these systems more accessible and appealing to farmers across Asia Pacific.
Furthermore, the rest of the world's solar powered irrigation system marketis divided into the Middle East, Africa, and Latin America. The industry is expanding due to a greater emphasis on sustainable agriculture and the need to manage water scarcity issues.
Key Findings of the Study
- The global solar powered irrigation system market is expected to reach USD 125.6 billion by 2032, at a CAGR of 8.80% during the forecast period.
- Asia Pacific is undoubtedly the region with the quickest growth. This is partly because solar-powered irrigation systems have been quickly adopted in nations where agriculture is important to the economy, such as China and India.
- Based on component, the global solar powered irrigation system market has been segmented into solar panel, pump controller, submersible water pump and inverter. Solar panels are the industry's fastest growing category in the market
- Lorentz (Germany), Jain Irrigation Systems (India), Netafim (Israel), Grundfos (Denmark), Solar Water Solutions (Kenya), Bright Solar (China), Shakti Pumps (India), CRI Pumps (India), Dankoff Solar Pumps (United States), Rainbow Power Company (Australia), Sunray Power (China), Tata Power Solar Systems (India).
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Companies Covered | 15 |
Pages | 128 |
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