Solar Water Pumps Market: Overview A solar water pump runs on the electricity generated by solar panels. These pumps are not connected to the grid and they release a lower amount of emissions compared to conventional pumps. Solar pumps are highly economical in areas where grid electricity is not available. Components of solar water pumps include solar panels, a controller, and a pump. The size of the PV system determines the operating capacity of the pump.
Solar Water Pumps Market: Drivers & Restraints
Stringent government regulations to reduce carbon emissions released into the atmosphere are a major factor driving the solar water pumps market. Favorable government incentive schemes to promote the installation of solar water pumps are
also fueling the market. Furthermore, from the viewpoint of protection of the environment, a majority of manufacturers are shifting from conventional pumps
toward solar water pumps. Recently, KSB Pumps Ltd., a leading international
supplier of pumps, valves, and related systems, has launched a new product called
KSBSol. It is a submersible solar power pump set with high energy efficiency and
reliability.
Solar Water Pumps Market: Key Segments
The solar water pumps market can be segmented based on product, application, and
region. In terms of product, the solar water pumps market can be divided into
submersible water pumps and surface water pumps. The submersible water pumps
segment is expected to expand at a prominent CAGR during the forecast period.
These pumps are specially designed to pump groundwater from deeper wells or
boreholes, where surface pumps cannot be used. However, the surface water
pumps segment is also expected to witness significant growth during the forecast
period, primarily due to increasing drip irrigation activities in developing economies in
The Asia Pacific and Middle East & Africa.
In terms of application, the global solar water pumps market can be segmented into
agriculture, drinking water, and others. The agriculture segment is expected to
expand at the maximum CAGR during the forecast period. In order to support and
encourage large-scale deployment of solar pumps in the near future, the
Government of India are providing farmers with interest subsidy along with reduced
capital-subsidy. Also, Several NGOs, through combined investments by farmers,
have taken initiatives to install solar pumps in different parts of India. This factor
drives the solar power pumps market in the country.
Solar Water Pumps Market: Regional Outlook
In terms of region, the global solar water pumps market can be divided into North
America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The Asia Pacific dominates the global solar water pumps market. The solar water pumps market in
the region is expected to expand at a prominent CAGR during the forecast period.
China, India, Japan, Bangladesh, and Indonesia are major contributors, in terms of
revenue, to the solar water pumps market in the Asia Pacific. Extensive agriculture
activities and less electric grid connectivity for these activities drive the solar water
pumps market in the region. Moreover, supportive government schemes for farmers
and solar pump manufacturers are fueling the solar water pumps market in the
region.
Middle East & Africa is another major region of the global solar water pumps market.
MEA witnesses the maximum penetration of sunlight across the world. Recently, in
Morocco, the Ministry of Energy, Mining & Sustainable Development invested US$
233 Mn to promote the use of solar energy to power water pumps for irrigation. The
move is intended to help farmers reduce energy costs and use less butane gas in
farming operations. Such factors augment the solar water pumps market in the Middle
East & Africa.
Solar Water Pumps Market: Key Players
Key players operating in the global solar water pumps market are Lorentz, SunEdison, Inc., CRI Pumps Pvt. Ltd, Solar Power & Pump Co LLC, Tata Power Solar Systems Ltd., Shakti Solar Pumping System, WENLING JINTAI PUMP FACTORY, Bright Solar Pvt. Ltd., Grundfos, and American West Windmill and Solar Company.
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