The global solar water pump market is expected to grow at a considerable CAGR of 5.8% during the forecast period (2021-2027). Solar water pumps are gaining prominence as they run on electricity generated by solar panels which results in relatively lower emissions. The major factors that are augmenting the growth of the solar water pump market include cohesive government policies, increasing the need for alternative energy sources, and increasing renewable energy generation. The support by the government authorities is witnessed majorly in the emerging economies such as India and China, to shift trend towards solar PV by replacing diesel pumps. For instance, Under the Madhya Pradesh Mukhyamantri Solar Pump Subsidy Scheme, in India (2021), free solar pumps will be provided to the farmers by replacing the diesel pumps. Furthermore, increasing urbanization, the need for clean and potable water, shortage of electricity and fuel, and rising demand for solar pumps in domestic applications are some of the other factors that are estimated to fuel the market growth, during the forecast period.
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However, certain factors are affecting the growth of the market. Higher initial investment costs could be a barrier to market growth. Although despite the initial investment costs, once installed, the solar water pumps can be used as an affordable source of electricity to reduce energy bills.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Solar Water Pump Market by Type
- Surface Water Pumps
- Submersible Water Pumps
Global Solar Water Pump Market by Application
- Agriculture
- Water Supply
- Others
Global Solar Water Pump Market by End-User
- Small-Scale Based
- Large-Scale based
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Alpex Solar Pvt. Ltd.
- Bright Solar Ltd.
- R.I. Pumps Private Ltd.
- Grundfos Pumps Corp.
- Jain Irrigation Systems Ltd.
- JJ PV Solar
- Kirloskar Brothers Ltd.
- LORENTZ
- Lubi Electronics
- Rainbow Power Company Ltd.
- Shakti Pumps (India) Ltd.
- Span Pumps Pvt Ltd.
- SunEdison, Inc.
- Tata Power Solar Systems Ltd.
- Topsun Energy Ltd.
- Udhaya Semiconductors Ltd.
- Waaree Energies Ltd.
- Symtech Solar Group.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global solar water pump market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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