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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

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Published: | Report ID: 10519 | Report Format : PDF

Increasing agricultural activities and government subsidies 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, an increase in the number of agricultural activities, a rising need for livestock drinking water facilities, ease of convenience, and low operation & maintenance cost are expected to drive the solar pump market. Innovation in technology and services, such as solar-powered drip irrigation systems and floating solar systems, is anticipated to accelerate the growth of solar pumps. However, high initial capital costs, declining underground water levels, and theft of PV panels are expected to hinder the solar pump market growth.

Market Synopsis

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 pump 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 a clean and continuous water supply to various remote areas creates the need 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 their low operating & maintenance cost, up-front pump cost, and easy installation process, 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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The Asia Pacific to Dominate, Europe to Witness Strong Growth

In 2018, Asia Pacific was the largest solar pump market withholding a total market share of around 45%. Increasing government subsidies in the form of incentives and tax reductions 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 the second largest region for the solar pump market globally. Germany, the UK, Italy, and France are significant countries involved in the use of solar pumps. An increase in the number of agricultural activities coupled with livestock water supply is anticipated to have a market penetration over a few years.

Key Players & Competitive Landscape:

Some of the leading manufacturers profiled in the study include 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.

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Report Scope by Segments

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

ATTRIBUTE DETAILS

  • Research Period  2017-2027
  • The base Year     2018
  • Forecast Period   2019-2027
  • Historical Year    2017
  • Unit                   USD Billion

  Segmentation  Pump Type Segment (2017–2027;       US$ Bn)

  • DC Surface Suction
  • AC Submersible
  • DC Submersible
  • AC Floating

  Application Segment (2017-2027: US$ Bn)

  • Agriculture
  • Drinking Water
  • Industrial
  • Others (Municipal, Livestock, Aquaculture)

 Geography Segment (2017–2027; US$ Bn)

  • North America (the US, Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

Key questions answered in this report.

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

List of Figures

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 %)

List of Tables

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)

Frequently asked questions :

What is the size of Solar Pumps Market?

The market for Solar Pumps Market is expected to reach US$ 1.81 Bn by 2027.

What is the Solar Pumps Market CAGR?

The Solar Pumps Market is expected to see significant CAGR growth over the coming years, at 8.4%.

What is the Forecast period considered for Solar Pumps Market?

The report is forecasted from 2019-2027.

What is the base year considered for Solar Pumps Market?

The base year of this report is 2018.

Who are the major players in this market?

Competitive Dashboard are some of the major players in the global market.

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