Solar Pumps Market

Segmentation By product (DC Surface Suction, AC Submersible, DC Submersible and AC Floating); By End User (Agriculture and Drinking Water) - Global Demand Analysis & Opportunity Outlook 2027

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Report ID: 1238 | Published On: Feb 06, 2023
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Market segments

Our in-depth analysis segmented the Global solar pumps market in the following segments:

By product

  • DC Surface Suction
  • AC Submersible
  • DC Submersible
  • AC Floating

By End User

  • Agriculture
  • Drinking Water

By Region

Global solar pumps market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

solar pumps market

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solar pumps market
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Market Size and Forecast

Global solar pumps market is expected to value at USD 0.5 Billion in 2027. High agricultural activities and growing demand for water extraction based on renewable energy for irrigation is expected to drive the global solar pumps market over the forecast period. The global solar water pumps market is anticipated to exhibit an exponential growth by 2027, growing with a double digit CAGR of 35.7% during the estimated period (2017 – 2027). Growing government subsidizations by providing financial incentive in order to set up solar pumps is further expected to drive the market growth of solar pumps in the forthcoming years.

The global solar pump market can be segmented on the basis of product type and end user. On the basis of product type solar pumps market is segmented into DC Surface Suction, DC Submersible, AC Submersible and AC Floating. DC suction is the leading product type   on the account of growing drip irrigation in Asia Pacific and the Middle East & Africa. AC submersible pumps are anticipated to observe the highest growth rate during the forecast period. Increasing demand for high efficiency solar pumps is expected to support the demand for AC submersible pumps over the forecast period. By end-user solar pumps market is segmented into agriculture and drinking water. Agriculture end use segment is anticipated to be the dominating segment during the forecast period on the account of high use of solar pumps in the agriculture industry. By region global solar pump market can be segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia Pacific is the leading region in the global solar pump market. This is attributed to the fact that government is focusing towards the reduction of fossil fuels and also increased subsidies for agricultural activities. Europe is expected to be the second largest market in global solar pump market on the account of increasing usage of non-conventional energy resources in the region.

Growth Factors and Challenges

High growth in agriculture coupled with increasing demand from water intensive industries is the major driver for global solar pumps market.  Additionally, favorable government policies are expected to support the increasing adoption of solar pump in Asia Pacific region. The key manufacturers operating in the global solar pumps market are developing innovative solar pumps with improved design and manufacturing process in order to grab the potential untapped market. However, some of the restraining factors associated with solar pump market is high investment cost coupled with unavailability of spare parts.

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Top Featured Companies Dominating The Market

    • USL
    • Bright Solar Water Pumps
    • Tata Power Solar Systems Ltd
    • CRI Group
    • Solar Power & Pump Co.,
    • LLC, Rainbow Power Co Ltd
    • American West Windmill & Solar Company
    • Grundfos
    • Wenling Jintai Pump Factory
    • Sun Edison
    • Shakti Solar Pumping System
    • Lorentz
    • Greenmax Technology
    • Conergy
    • Dankoff Solar
    • Greenmax Technology
    • Flowserve


In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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