Solar Pumps Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Solar Pumps Market grew at a CAGR of 5.9% between 2017-2021 and is estimated to be US$ 1,532.1Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 7.1% and is expected to reach a valuation of US$ 3,042.2Mn by 2032 end.
A solar-powered system known as a solar water pump moves water for various uses, including irrigation, community water supplies, and potable drinking water. Solar water pumps have reduced the need for energy-dependent resources like coal, gas, and diesel. Increasing investment in agricultural applications is anticipated to drive market expansion in the upcoming years.
ChemView Consulting has analyzed that running water pumps on diesel generators, which have enormous operating expenses, is one of the most expensive tasks for farmers in India and other nations that depend heavily on agriculture. There are still a lot of communities without widespread access to the energy grid. Solar water pump systems are becoming a better option for cutting irrigation costs for farmers and small electrification costs for the government. Solar panels are also getting more affordable, greatly increasing consumer adoption. Due to the predicted cost decrease, demand will keep rising in the next years, particularly in the agricultural sector.
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Surface pumps and submersible pumps are the two types of market segments. Which of these two types of pumps is more appropriate often depends on the water source. In wells and boreholes, submersible pumps are fully submerged in the water source.
Segments Covered in Report
- Below 4 HP
- 4-6 HP
- 6-8 HP
- Above 8 HP
By Product Type:
- Swimming Pool
- Pond Management
- National Parks
- Industry Water Treatment
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Solar Pumps Market
- Based on the product type, submersible pumps can be positioned horizontally inside water reservoirs at a minimum depth of 0.5 m, securely fastened, and equipped with a cooling sleeve to cool the motor adequately. This increases efficiency by using less power to move the fluid via the pump’s fluid path. Surface pumps are typically installed at a lake’s edge or on the water’s surface.
- Based on the application, the market is divided into agricultural, water treatment, and other sectors. Farmers in India and the Sub-Saharan area are the major consumers of solar water pumps, accounting for almost 63% of the market’s value.
- Based on the region, during the forecast period, Europe is expected to hold a market share of 30.2% in the global market for Solar Pumps. The Solar Pumps market is anticipated to generate the most revenue in Europe.
Key companies covered in the market study are Alpex Solar Pumps, Aqua Group, Bright Solar Limited, and C.R.I. Pumps Private Limited, Crompton, LORENTZ, Dankoff Solar, Duke Plasto Technique Private Limited, EcoSoach, Ecozen Solutions, Franklin Electric, Grundfos, Jackson Group, K.S.B.Limited, Novergy Energy Solutions Pvt. Ltd., Shakti Pumps, SunEdison Infrastructure, Surya International, Tata Power Solar
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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