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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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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.

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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

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Product Overview

A Solar Water Pump is a device, which runs on the electricity driven by photovoltaic panels. Solar water pumps are primarily used in regions where electricity is unavailable and alternative sources of energy such as wind do not offer enough power. Solar pumps are mainly used for drinking water and agricultural purposes. Solar pumps are widely used in remote regions where energy in the form of electricity is not available. Water pumping is one of the most suitable and simplest applications for solar powered pumps. Growing agricultural activities and high water extraction from renewable energy is expected to drive the global solar pumps market over the forecast period.

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.

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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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.

 Key Players

  • 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


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