Solar Powered Irrigation System Market Size

Solar Powered Irrigation System Market size was valued at USD 64.25 Billion in 2023 and is projected to cross USD 194.64 Billion by the end of 2036, registering more than 8.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of solar powered irrigation system is estimated at USD 69.4 Billion. The major factor dominating the market demand is the growing energy consumption of the agriculture sector. In 2022, the agri-food sector consumed about 29 of energy globally, and from this, most was fossil fuel-based. Hence, in order to protect the energy being depleted the use of solar in irrigation systems is set to grow. Solar-powered irrigation systems (SPIS) constitute a clean technology irrigation option that replaces fossil fuels with solar energy for water pumping.

Moreover, the electricity price for the activity of distributing water in fields is one of the major concerns for the farmers, especially in developing regions. However, the decision of farmers to invest in diesel and fuel is also a costlier alternative for farmers owing to this rising price. Therefore, the adoption prevalence of solar in irrigation is anticipated to have significant growth during the projected period. Moreover, groundwater is the most accessible water source when the water must be carried over great distances. Moreover, SPIS may assist to mitigate the result of drought and alleviate water stress in the course of the dry season. When solar PV pumps take over the task of transporting water, it can also free up a significant amount of time that can be used for other beneficial endeavors.