Menu ×

ENERGY & POWER

Global Solar Pumps Market Analysis & Opportunity Outlook 2021

  • Report ID: 122
  • Text Size:

Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

Request Insights

Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

Read More

Solar Pumps Overview button

The world is currently witnessing a rapid depletion of non-renewable energy sources such as coal, petroleum, etc. and is shifting towards renewable sources of energy such as solar, wind, water, etc. Efforts are being made to utilize these renewable sources for wider applications. One such example of these efforts is development of solar pumps, which are highly efficient pumps running on solar panels.

The global solar pumps market is anticipated to witness a substantial compound annual growth rate (CAGR) of 34.3% over the forecast period i.e. 2015-2021. Regionally, the global solar pumps market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row). 

Market Size and Forecast

With approximately 34.0% share, Asia-Pacific dominated the global solar pumps market in terms of volume in the year 2015. The region is also anticipated to witness the highest CAGR of 43.6% during 2015-2021, sparked by increasing government support to farmers in terms of subsidies in countries such as India, Bangladesh and China.

North America and Europe together are likely to witness a robust growth in global solar pumps market over the forecast period of 2015-2021. The market in these regions is likely to get escalated from formulations of mandatory government regulations regarding use of clean fuels in industries to curb the detrimental effects of global warming.

Middle East and Africa (MEA) solar pumps market is projected to reach at USD 602 Million by 2021.

Get more information on this report: Download Sample PDF

Market Segmentation

By Type

  • Submersible Solar Pumps
  • Surface Solar pumps
  • Solar Pool Pumps

By End Use

  • Drinking Water
  • Agriculture
  • Oil & Gas
  • Others

The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and challenges

Growth of agricultural sector coupled with insufficient supply of power in emerging countries is expected to garner the growth of global solar pumps market over the forecast period i.e. 2015-2021.

In addition to that increasing government programs to promote use of solar energy and increasing environmental concerns towards use of clean energy is also envisioned to bolster the global solar pumps market over next 4-5 years.

However, high initial investment in solar pumps is anticipated to restrain development of the global solar pumps market in future.

Key Players

Global Solar Pumps market includes some of the top players such as Bright Solar, LORENTZ, Sun Edison, Shakti Pumps, Tata Power Solar, etc.


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions | LOB

Copyright © 2021 Research Nester. All Rights Reserved