Impact Of Energy Prices Of Solar Energy In Agriculture: Key Driver Transforming The Solar (On Farm) Market In 2025

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The Business Research Company's Solar (On Farm) Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, March 4, 2025 /EINPresswire / -- The past years have witnessed swift expansion in the solar (on farm) market. Poised to grow from $256.02 billion in 2024 to $302.66 billion in the following year, the market surges at an impressive compound annual growth rate CAGR of 18.2%. Such growth can be credited to factors such as rising fossil fuel costs, government incentives and subsidies, growing environmental awareness and education, and increasing concerns over climate change.

Is This Growth Anticipated To Continue?
Indeed, the solar on farm market is forecasted to maintain strong growth momentum over the coming years. It is projected to reach an astronomical $369.72 billion by 2029, with a CAGR of 5.1%. This forecasted growth can be attributed to enhanced government support, reduced solar technology costs, an amplified focus on sustainability, soaring energy costs, and a growing consumer demand for sustainably produced food. Major trends during this forecasted period include advancements in photovoltaic technology, improvements in battery technology, the rise of advanced metering infrastructure, development of dual-use and hybrid systems.

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What Crucial Factors Are Driving This Significant Growth?
Escalating energy costs are expected to act as the major impetus propelling the growth of the solar on-farm market. Such costs are primarily influenced by factors such as increased global demand, supply chain disruptions, geopolitical tensions affecting oil and gas supply, and the transition to more expensive renewable energy sources. Consequently, solar energy on farms is a boon in mitigating these costs by offering a cost-effective, renewable power source for various farm activities like irrigation and equipment operation, eventually reducing the reliance on more expensive fossil fuel or grid electricity.

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Who Are The Big Players In This Expansive Market?
Pioneers operating within the solar on farm market include companies like Xylem Inc., Grundfos Holding A/S, SunPower Corporation, Netafim Limited, Wien Energie GmbH, Tata Power Solar Systems Limited, Jain Irrigation Systems Limited, Rain Bird Corporation, Shakti Pumps India Limited, SunCulture Kenya Ltd., HydroPoint Data Systems Inc., Gautam Solar Pvt. Ltd., Rainbow Power Company Limited, Driptech India Pvt. Ltd., EnSol Technologies Pvt. Ltd., LORENTZ GmbH, CRI Pumps Private Limited, Sunray Power Co. Ltd., Aqua Solar Pvt. Ltd., Bright Solar Limited, Bonergie, Dankoff Solar Pumps, Solar Water Solutions Oy, AquaVita S.r.l.

What New Trends Are Emerging In The Industry?
Companies in the solar on-farm market are focusing on innovations in renewable energy generation combined with agricultural land use to enhance irrigation efficiency, reduce energy costs, and improve farming applications. This approach, known as Agri-PV Agricultural Photovoltaics, involves installing solar panels on farmland to generate clean energy while allowing continued agricultural activities.

How Is The Market Segmented?
1 By Type: Drip Irrigation, Sprinkler Irrigation, Surface Irrigation
2 By Component: Solar Panel, Pump Controller, Submersible Water Pump, Inverter, Other Components
3 By Application: Agriculture Irrigation, Landscaping And Gardening, Other Applications

Subsegments include:
1 By Drip Irrigation: Surface Drip Irrigation Systems, Subsurface Drip Irrigation Systems, Pressure Compensating Drippers
2 By Sprinkler Irrigation: Center Pivot Sprinkler Systems, Portable Sprinkler Systems, Stationary Sprinkler Systems
3 By Surface Irrigation: Flood Irrigation, Furrow Irrigation, Basin Irrigation

Which Regions Are Seeing Growth In The Market?
In 2024, North America emerged as the largest region in the solar on farm market. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period, with the regions covered in this solar on farm market report including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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