Solar Pumps Market By Pump Type (DC Surface Suction, AC Submersible, DC Submersible, AC Floating), By Application (Agriculture, Drinking Water, Industrial, Others) - Growth, Future Prospects, And Competitive Landscape, 2019 - 2027

Increasing agricultural activities and government subsidy for farmers across the globe to drive the solar pumps market

The global solar pumps market is poised to reach US$ 1.81 Bn by 2027, expanding at a CAGR of 8.4% during the forecast period from 2019 to 2027. Government subsidies, increase in the number of agricultural activities, rising need for livestock drinking water facility, ease of convenience and low operation & maintenance cost are expected to drive the solar pumps market. Innovation in technology and services such as solar powered drip irrigation system, floating solar system is anticipated to accelerate the growth of solar pumps. However, high initial capital cost, declining underground water level and theft of PV panels are anticipated to hinder the solar pumps market growth.   

Market Synopsis

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Increasing Demand from the Agricultural sector to Drive Growth Prospects

An increase in agricultural activities and water requirements for irrigation and livestock purpose is expected to drive the solar pumps market. Government subsidies offered to solar pump manufacturers and farmers in emerging economies of Asia Pacific are expected to boost the solar pump market growth over the next few years. The necessity of clean and continuous water supply to various remote areas create needs for the installation of solar pumps.

Government incentives as a subsidy to farmers and solar pumps manufacturer are creating a significant opportunity for solar pumps. Due to its low operating & maintenance cost, up-front pump cost and easy installation process the solar pumps are highly encouraged over diesel pumps. In 2019, the Cabinet Committee on Economic Affairs (CCEA) approved Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM) program with an investment of around US$ 4.69 Bn in India. The aforementioned project includes the installation of 1.75 Mn agricultural and one million grid-connected solar pumps.

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Asia Pacific to Dominate, Europe to Witness Strong Growth

In 2018, Asia Pacific is the largest solar pump markets withholding a total market share of around 45%. Increasing government subsidies in the form of incentives, tax reduction for agricultural activities is expected to drive the solar pump market. India, Bangladesh, China and Pakistan are major agricultural nations with ample availability of concentrated solar energy. Inadequate power generation capacity and grid infrastructure for irrigation and community water supply facilities in developing countries like India and China are expected to drive the demand for solar pumps.

Europe is second largest region for solar pumps market globally. Germany, the U.K., Italy and France are major countries involved in the use of solar pumps. Increase in number of agricultural activities coupled with livestock water supply is anticipated to have a market penetration over few years.

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Key Players & Competitive Landscape:

Some of the leading manufacturers profiled in the study includes CRI Group, Grundfos, American West Windmill & Solar Company, SunEdison, Lorentz, Rainbow Power Co., Ltd., Shakti Solar Pumping System, Tata Power Solar Systems Ltd., Solar Power & Pump Co., LLC, Wenling Jintai Pump Factory and Bright Solar Water Pumps.

Historical & Forecast Period

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The research study on solar pumps market offers market size and forecasts based on market dynamics and predominant trends shaping the industry. The report provides all round view of the global solar pumps market based on its pumps type, application, and geography. Key segments covered in the report are as follows:

Key questions answered in this report

• What was the global solar pumps market size in 2017 & 2018?
• What is estimated forecast and market projections up to 2027?
• Which is largest regional solar pumps market?
• Which end-use vertical has the largest penetration of solar pumps and related facilities?
• Which are the predominant trends shaping the global solar pumps market?
• Which is the most promising, attractive, and less-explored end-use segment in the global solar pumps market?
• Who are the leading manufacturers in the global solar pumps market?
• What are the premiere strategies adopted by the leading players in the global solar pumps market?

1. Preface
1.1. Report Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global SP Market Snapshot
2.1.1. Global SP Market by Pump Type, 2018 (US$ Bn)
2.1.2. Global SP Market by Application, 2018 (US$ Bn)
2.1.3. Global SP Market by Geography, 2018(US$ Bn)

3. Global Solar Pumps (SP) Market Dynamics
3.1. Market Overview
3.2. Drivers
3.3. Challenges
3.4. Impact Analysis of Drivers and Challenges
3.5. Competitive Landscape
3.5.1. Market Positioning of Leading SP Manufacturers, 2018
3.5.2. Strategies Adopted by Leading SP Manufacturers

4. Global Solar Pumps (SP) Market Size (US$ Bn), By Pump Type, 2017 – 2027
4.1. Overview
4.1.1. SP Market Analysis by Pump Type, 2018 & 2027
4.1.1.1. DC Surface Suction
4.1.1.2. AC Submersible
4.1.1.3. DC Submersible
4.1.1.4. AC Floating

5. Global Solar Pumps (SP) Market Size (US$ Bn), By Application, 2017 – 2027
5.1. Overview
5.1.1. SP Market Analysis by Application, 2018 & 2027
5.1.1.1. Agriculture
5.1.1.2. Drinking Water
5.1.1.3. Industrial
5.1.1.4. Others (Municipal, Livestock, Aquaculture)

6. Global Solar Pumps (SP) Market Size (US$ Bn), By Geography, 2017 – 2027
6.1. North America
6.2. Europe
6.3. Asia Pacific
6.4. Rest of World

7. North America Solar Pumps (SP) Market Analysis, 2017 – 2027
7.1. Overview
7.2. North America SP Market Analysis by Pump Type, 2018 & 2027
7.2.1. DC Surface Suction
7.2.2. AC Submersible
7.2.3. DC Submersible
7.2.4. AC Floating
7.3. North America SP Market Size (US$ Bn), By Application, 2017 – 2027
7.3.1. Agriculture
7.3.2. Drinking Water
7.3.3. Industrial
7.3.4. Others (Municipal, Livestock, Aquaculture)
7.4. North America SP Market Size (US$ Bn), By Country, 2017 – 2027
7.4.1. U.S.
7.4.2. Rest of North America

8. Europe Solar Pumps (SP) Market Analysis, 2017 – 2027
8.1. Overview
8.2. Europe SP Market Analysis by Pump Type, 2018 & 2027
8.2.1. DC Surface Suction
8.2.2. AC Submersible
8.2.3. DC Submersible
8.2.4. AC Floating
8.3. Europe SP Market Size (US$ Bn), By Application, 2017 – 2027
8.3.1. Agriculture
8.3.2. Drinking Water
8.3.3. Industrial
8.3.4. Others (Municipal, Livestock, Aquaculture)
8.4. Europe SP Market Size (US$ Bn), By Country, 2017 – 2027
8.4.1. U.K.
8.4.2. Germany
8.4.3. France
8.4.4. Rest of Europe

9. Asia Pacific Solar Pumps (SP) Market Analysis , 2017 – 2027
9.1. Overview
9.2. Asia Pacific SP Market Analysis by Pump Type, 2018 & 2027
9.2.1. DC Surface Suction
9.2.2. AC Submersible
9.2.3. DC Submersible
9.2.4. AC Floating
9.3. Asia Pacific SP Market Size (US$ Bn), By Application, 2017 – 2027
9.3.1. Agriculture
9.3.2. Drinking Water
9.3.3. Industrial
9.3.4. Others (Municipal, Livestock, Aquaculture)
9.4. Asia Pacific SP Market Size (US$ Bn), By Country, 2017 – 2027
9.4.1. China
9.4.2. India
9.4.3. Japan
9.4.4. Rest of Asia Pacific

10. Rest of the World Solar Pumps (SP) Market Analysis , 2017 – 2027
10.1. Overview
10.2. Rest of the World SP Market Analysis by Pump Type, 2018 & 2027
10.2.1. DC Surface Suction
10.2.2. AC Submersible
10.2.3. DC Submersible
10.2.4. AC Floating
10.3. Rest of the World SP Market Size (US$ Bn), By Application, 2017 – 2027
10.3.1. Agriculture
10.3.2. Drinking Water
10.3.3. Industrial
10.3.4. Others (Municipal, Livestock, Aquaculture)
10.4. Rest of the World SP Market Size (US$ Bn), By Country, 2017 – 2027
10.4.1. Latin America
10.4.2. Middle East & Africa

11. Company Profiles
11.1. Competitive Dashboard
11.1.1. Lorentz
11.1.2. CRI Group
11.1.3. Shakti Solar Pumping System
11.1.4. Tata Power Solar Systems Ltd.
11.1.5. SunEdison
11.1.6. Solar Power & Pump Co., LLC
11.1.7. Rainbow Power Co., Ltd.
11.1.8. Wenling Jintai Pump Factory
11.1.9. American West Windmill & Solar Company
11.1.10. Bright Solar Water Pumps
11.1.11. Grundfos

* Here we are using SP as a short form of Solar Pumps

FIG. 1 Global Solar Pumps (SP): Market Segmentation
FIG. 2 Global SP Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global SP Market, By Pump Type, 2018 (US$ Bn)
FIG. 5 Global SP Market, By Application, 2018 (US$ Bn)
FIG. 6 Global Smoke Detector Market, By Geography, 2018 (US$ Bn)
FIG. 7 Global SP Market Value and Growth, 2017 - 2027, (US$ Bn and % Y-o-Y)
FIG. 8 See-Saw Analysis : Global SP Market
FIG. 9 Market Positioning of Leading SP Manufacturers, 2018
FIG. 10 Global SP Market Value Contribution, By Pump Type, 2018 & 2027 (Value %)
FIG. 11 Global DC Surface Suction Pumps Market Value and Growth, 2017 - 2027, (US$ Bn)
FIG. 12 Global AC Submersible Pumps Market Value and Growth, 2017 - 2027, (US$ Bn)
FIG. 13 Global DC Submersible Pumps Market Value and Growth, 2017 - 2027, (US$ Bn)
FIG. 14 Global AC Floating Pumps Market Value and Growth, 2017 - 2027, (US$ Bn)
FIG. 15 Global SP Market Value Contribution, By Application, 2018 & 2027 (Value %)
FIG. 16 Global Agriculture based SP Market Value and Growth, 2017 – 2027, (US$ Bn)
FIG. 17 Global Drinking Water based SP Market Value and Growth, 2017 – 2027, (US$ Bn)
FIG. 18 Global Industrial based SP Market Value and Growth, 2017 – 2027, (US$ Bn)
FIG. 19 Global Others (Municipal, Livestock, Aquaculture) based SP Market Value and Growth, 2017 – 2027, (US$ Bn)
FIG. 20 North America SP Market Value and Growth, 2017 - 2027, (US$ Bn) (Y-o-Y %)
FIG. 21 Europe SP Market Value and Growth, 2017 - 2027, (US$ Bn) (Y-o-Y %)
FIG. 22 Asia Pacific SP Market Value and Growth, 2017 - 2027, (US$ Bn) (Y-o-Y %)
FIG. 23 RoW SP Market Value and Growth, 2019 – 2027, (US$ Bn) (Y-o-Y %)

TABLE 1 Market Snapshot: Global Solar Pumps (SP) Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global SP Market, by Pump Type, 2017–2027 (US$ Mn)
TABLE 5 Global Smoke Detector Market, by Application, 2017–2027 (US$ Mn)
TABLE 6 Global Smoke Detector Market, by Geography, 2017–2027 (US$ Mn)
TABLE 7 North America SP Market, by Pump Type, 2017–2027 (US$ Mn)
TABLE 8 North America SP Market, by Application, 2017–2027 (US$ Mn)
TABLE 9 North America SP Market, by Geography, 2017–2027 (US$ Mn)
TABLE 10 Europe SP Market, by Pump Type, 2017–2027 (US$ Mn)
TABLE 11 Europe SP Market, by Application, 2017–2027 (US$ Mn)
TABLE 12 Europe SP Market, by Country/Region, 2017–2027 (US$ Mn)
TABLE 13 Asia Pacific SP Market, by Pump Type, 2017–2027 (US$ Mn)
TABLE 14 Asia Pacific SP Market, by Application, 2017–2027 (US$ Mn)
TABLE 15 Asia Pacific SP Market, by Country/Region, 2017–2027 (US$ Mn)
TABLE 16 Rest of the World SP Market, by Pump Type, 2017–2027 (US$ Mn)
TABLE 17 Rest of the World SP Market, by Application, 2017–2027 (US$ Mn)
TABLE 18 Rest of the World SP Market, by Region, 2017–2027 (US$ Mn)
TABLE 19 Lorentz : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 20 CRI Group : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 21 Shakti Solar Pumping System : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 22 Tata Power Solar Systems Ltd. : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 23 SunEdison : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 24 Solar Power & Pump Co., LLC : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 25 Rainbow Power Co., Ltd. : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 26 Wenling Jintai Pump Factory : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 27 American West Windmill & Solar Company : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 28 Bright Solar Water Pumps : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)