Solar Water Pumps Market: 2019 Size, Trends, Share, And Key Country Forecast To 2023 Research Report

Solar Water Pumps Market Research Report - Forecast To 2023. Global Solar Water Pumps Market Information Report by Product (DC Surface Suction, AC Submersible, DC Submersible, AC Floating), by Application (Agriculture, Drinking Water) and by Region - Global Forecast to 2023.

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Market Overview:

The key players of the global solar water pumps market are Lorentz (Germany), SunEdison, Inc. (U.S.), CRI Pumps Pvt. Ltd (India), Solar Power & Pump Co LLC (U.S.), Tata Power Solar Systems Ltd. (India), Shakti Solar Pumping System (India), WENLING JINTAI PUMP FACTORY (China), Bright Solar Pvt. Ltd. (India), Grundfos (Denmark) and American West Windmill and Solar Company (U.S.).

A Solar Water Pump is a device, which runs on the electricity generated by photovoltaic panels. Solar water pumps are not connected with the grid and result in very less emission compared to conventional pumps. Solar water pumps are increasingly used in regions where grid electricity is unavailable and alternative sources such as wind do not provide enough power for operations. Solar pump components consists of solar panels, a controller and a pump while the size of the PV system determines the operating capacity of the pump.

Solar pumps are increasingly being used in domestic and agriculture applications, especially for delivering drinking water for livestock and irrigation. Also, solar water pumps are used in oil and gas fracking activities to reduce the environmental impact of the oil recovery process.

The Solar Water Pumps Market is expected to grow at a CAGR of 5.6% during the forecast period.

Global Solar Water Pumps Market:

The global solar water pumps market is driven by the increased agriculture activities along with the increase in use of water for water based agricultural practices. The Asia-Pacific region is the leading market for solar water pumps. Rapid agriculture activities in countries such as China, India, Bangladesh and Pakistan and reduced grid connectivity for agricultural activities, drive the market for solar water pumps in these countries. Furthermore, increased need for clean water for drinking and irrigation in countries such as Morocco, Nigeria, Namibia and Kenya, in the African region, is also driving the need for the solar pumps in the region. The UN development programs to promote the use of solar energy in the region, is also driving the market.

Globally, the Asia Pacific region accounts for the leading market for the solar water pumps. Growing market in some of the APAC countries such as India, China, and Japan, driven by the increasing industrialization, contributes to the market growth majorly. The market is likely to retain its dominance throughout the forecast period, attributing to the burgeoning agriculture sector in the region.

Furthermore, factors such as the rapid agriculture activities in countries such as China, India, Bangladesh, and Pakistan along with the reduced grid connectivity for agricultural activities foster the market for solar water pumps in the region.

The North America market is estimated to increase at a significant pace during the assessment period. Moreover, sectors that are heavily reliant on water, such as pharmaceutical, food & beverages, and water treatment are fuelling the sales in the market.

Europe region is another lucrative market for solar water pumps. The market in the region is growing mainly due to the flourishing food & beverage and water treatment sectors.

The Middle East region is demonstrating enormous potential mainly due to the efforts from the countries in the region for reducing the dependency on their oil and gas market which provides opportunities to a flourishing water treatment market translating into demand for solar water pumps.

Simultaneously, factors such as the increased demand for clean drinking water in countries such as Nigeria, Morocco, Kenya, and Namibia in the African region, is providing impetus to the market growth, driving the demand for the solar pumps in the region. Also, the UN development programs to promote the use of solar energy in the region are fostering the market growth.

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