Growing Demand for Solar Pump Inverter in the Agriculture Sector will positively impact of the global Solar Pump Invertor market at a CAGR of 8.82% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Solar Pump Inverter Market”.

The Solar Pump Inverter market is estimated to register a CAGR of 8.91% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Solar Pump Inverter market— Shakti Pumps, Waaree Energies Ltd, Fimer, Grundfos, Solar Schneider, Hitachi, Bright Solar Limited, Solartech, and Voltronic Power Technology Corp

Market Highlights

The global Solar Pump Inverter market is accounted for to register a CAGR of 8.82% during the forecast period and is estimated to reach USD 3,063.02 million by 2032.

The agricultural sector is a major consumer of water for irrigation. Solar pump inverters find significant application in agricultural settings, offering farmers a sustainable and cost-effective means of water supply. Government initiatives and subsidies to promote solar-powered irrigation can further drive market growth. A nation's GDP is predominantly shaped by several key sectors, with agriculture being a significant contributor. Given the critical role of irrigation in farming, it is expected that the demand for Solar pump inverters systems will increase alongside higher agricultural investments. The opportunities for solar pumps are poised for growth in the forthcoming years due to the modernization of the agriculture sector and the gradual shift towards sustainable energy sources.

Solar energy is converted into electricity by photovoltaic arrays, which is then harnessed to power motor pumps used for drawing water from sources such as open wells, bore wells, streams, ponds, or canals. These Solar pump systems are employed to provide the necessary water for crop irrigation, livestock hydration, and potable drinking water. The rising adoption of solar pumps presents a significant opportunity for both market participants and solar pump inverter industry developers to tap into the commercial potential of these pumps with solar inverter and enhance the living standards in rural areas. Companies like Shakti Pumps and Bengal Renewables are striving to make their solar pump technology and business models more cost-effective and accessible to smallholder farmers. As the market continues to expand, numerous industry players view this as a promising chance to bring about substantial changes in the market landscape. Solar pump inverter technology has improved significantly in recent years, making them more efficient and reliable. This is making them more attractive to farmers who are looking for a long-term investment.

Many governments in emerging markets are offering subsidies and other incentives to promote the adoption of solar energy. This is helping to make solar pump inverters more affordable for farmers. For example, in India, solar pump inverters are being used to power water pumps in remote areas that do not have access to the electricity grid. This is helping farmers to irrigate their crops and increase their yields. In addition, the Indian government is providing subsidies for solar pump inverters, which is making them more affordable for farmers. Solar pump inverter companies can partner with local companies in emerging markets to provide installation and maintenance services for their products. This can help to overcome some of the challenges of operating in these markets, such as language barriers and cultural differences. Growing awareness of environmental issues and the need to reduce carbon footprints has led to a greater interest in sustainable practices. Solar pump systems align with these concerns, and businesses or individuals with a focus on environmental sustainability creating an opportunity in solar-powered solutions.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Solar Pump Inverter Market Research Report

Segment Analysis

The global Solar Pump Inverter market has been segmented based on Product Type, Phase, power rating, application, and Region.

The global Solar Pump Inverter Market segmentation, based on phase has been segmented into segmented into Single and three Pump. Among these, the Single phase of Solar Pump Inverter is projected to dominate the global Solar Pump Inverter market revenue through the projected period. Single-phase solar pump inverters convert DC power from solar panels to AC power that can be used to power a single-phase pump. They are typically less expensive than three-phase inverters and are a good option for small solar pump systems. Cost-Effective: Single-phase solar pump inverters are generally less expensive than their three-phase counterparts. This makes them a cost-effective choice, particularly for small-scale solar pump systems used in residential or agricultural settings. These inverters are suitable for small-scale applications where the power demand is relatively lower, such as for domestic water pumping or small agricultural irrigation systems. In areas where the power grid primarily provides single-phase electricity, using a single-phase solar pump inverter ensures compatibility and efficient operation.

In application segment, the market is categorized into Agriculture, Industrial and Residential. The dominant market share in the Solar pump inverters industry is expected to be held by the agriculture application, primarily due to the widespread adoption of solar pumps in this sector. Using solar pump inverters in agriculture can be a sustainable and cost-effective solution for water pumping, especially in remote areas where grid power is not readily available.

Regional Analysis

By Region, the Solar Pump Inverter market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific Solar Pump Inverter market holds the considerable market share and is also forecasted to hold the largest share during the forecast period. The adoption of solar pump inverters is particularly beneficial in these regions as they offer a reliable and sustainable solution for water pumping in agriculture. Many parts of the Asia-Pacific region face water scarcity issues, making efficient water management crucial for agriculture. Solar pump inverters provide a decentralized and sustainable solution for pumping water, reducing reliance on traditional grid electricity and diesel-powered pumps.

Key Findings of the Study

• The global Solar Pump Inverter market is expected to reach 3,063.02 million by 2032, at a CAGR of 8.82% during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Product type, the Grid connected Pump Inverter segment was attributed to holding the largest market in 2022.


• Based on Application, the agriculture segment was attributed to holding the largest market in 2022.


• Shakti Pumps, Waaree Energies Ltd, Fimer, Grundfos, Solar Schneider, Hitachi, Bright Solar Limited, Solartech, and Voltronic Power Technology Corp are the key market players.