The latest Solar Powered Irrigation System Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global Solar Powered Irrigation System Market is valued at approximately USD 54.1 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.4% over the forecast period 2022-2029.
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A solar-powered irrigation system is a type of irrigation system that uses energy from the sun to power the water pumps or motors that move water from a source, such as a well or reservoir, to the fields or crops being irrigated. It uses photovoltaic (PV) panels to capture sunlight and convert it into electricity that is then used to power water pumps and other irrigation equipment. In a typical solar powered irrigation system, the PV panels are installed on the ground or mounted on a structure such as a pole or a roof. The market demand is primarily driven by the factors such as increasing demand for food due to the growing population, the growing need for sustainable and eco-friendly energy solutions and the increasing government initiatives to provide incentives and subsidies for the adoption of solar powered irrigation systems.
In addition, the increasing government initiatives for the usage of solar powered irrigation systems and the rising price of electricity are acting as major driving factors for market growth. According to International Water Management Institute, the government of India (GOI) plans to construct 175 gigawatts (GW) of renewable energy capacity by 2022, with solar accounting for 100 GW of that total. Similarly, according to Statista, as of June 2022, Danish homes were charged approximately 0.53 US dollars per kilowatt-hour at the time, whereas German households were charged 0.52 US dollars per kilowatt-hour.
Hence, the growing need to shift towards renewable energy due to increasing prices of electricity and the increasing government projects to equip agricultural lands with solar powered equipment is expected to escalate the demand for solar powered irrigation systems in the global market. Furthermore, the rising popularity of solar powered irrigation systems due to the high cost of electricity and growing investments towards research and development to enhance the efficiency of solar powered irrigation systems are presenting lucrative opportunities for market growth over the forthcoming years. However, the high initial investment cost of installing solar powered irrigation systems is restricting the market growth over the forecast period of 2022-2029.
The key regions considered for the Global Solar Powered Irrigation System Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue due to the high level of agricultural activities and a substantial amount of cultivated land in the region. Whereas, North America is also expected to grow at the highest growth rate over the forecasting period due to increasing investments in renewable energy. Factors such as increasing prices of fossil fuels, rising concerns about the availability of fossil fuels, growing usage of renewable energy due to pollution and increasing population globally are burgeoning the market growth in the forecasting years.
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Major market players included in this report are:
Connexa
Bonergie
Jain Irrigation Systems Ltd.
LORENTZ
Rain Bird Corporation
SunCulture
Wien Energie GmbH
Bright Solar Limited
Netafim
Grundfos Pumps India Private Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Type:
Drip Irrigation
Sprinkler Irrigation
Surface Irrigation
By Component:
Solar Panel
Pump Controller
Submersible Water Pump
Inverter
Others
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By Application:
Agricultural irrigation
Landscaping and gardening
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World
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Some Questions Answered in the Global Solar Powered Irrigation System Market Report:
- What is the projected size of the global Solar Powered Irrigation System market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Solar Powered Irrigation System industry?
- What are the major market trends that are affecting the expansion of the Solar Powered Irrigation System market?
- What obstacles must be overcome in order to achieve sustained growth in the Solar Powered Irrigation System market?
- What opportunities and threats do vendors in the global Solar Powered Irrigation System market face?
- What are the raw materials and manufacturing equipment used in the production of Solar Powered Irrigation System Market, and what is the manufacturing process?
- What are the different types and applications of Solar Powered Irrigation System Market, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Solar Powered Irrigation System market?
- What factors are driving the growth of the Solar Powered Irrigation System market in the top regions worldwide?
- Who are the major players in the global Solar Powered Irrigation System market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Solar Powered Irrigation System market?
- What are the main findings of a five forces analysis of the global Solar Powered Irrigation System market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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