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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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Extensive insights into the Growth of Solar Pumps Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         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.CLICK TO DOWNLOAD FREE SAMPLE

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

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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