Solar Pump Market Size

Solar Pump Market size was valued at USD 2.84 billion in 2024 and is expected to reach USD 5.7 billion by 2037, expanding at around 5.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of solar pump is assessed at USD 2.96 billion.

Governments around the world are aggressively encouraging the use of solar energy through a range of incentives, feed-in tariffs, and subsidies, making solar pump installations financially feasible, and alluring to farmers, which propels market expansion. Moreover, farmers seeking to purchase solar pump systems are offered government grants other direct financial support, making investing in these systems simpler. According to the International Energy Agency’s data, since 2020, governments have increased their funding for clean energy investment to USD 1.34 trillion.