Crystal Market Research (CMR) render to you profound details in respect to leading participants, regions, application and type of the Solar Pumps Market which is estimated to encounter substantial growth over the forecast period 2014 – 2023.
Industry Trend Analysis:
The global Solar Pumps Market was approximately USD 755 million in the year 2017 and is expected to grow at a significant Compound Annual Growth Rate (CAGR) during the forecast period. Rising agricultural activities along with water pumping for irrigation derived from renewable energy is anticipated to fuel the global solar pumps market during the forecast years. Nations such as India, China, Bangladesh, Namibia, Pakistan, Nigeria, Morocco, and Kenya have set objectives to trim down fossil fuel imports as well as gain fiscally from it.
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These areas have plentiful solar energy supply with an immense renewable energy exploration potential. This factor is anticipated to boost global solar pump industry growth during the forecast years. Solar pumps are mainly utilized for drinking water and irrigation purposes. They are utilized in rural and remote areas where off-grid energy in the electricity form is not offered. Utilization of solar energy to propel pumps cuts down the working cost, which is mostly consumed in the diesel form. Strict government regulations to trim down carbon footprints into the environment are predicted to boost the growth of the solar pumps market during the next few years. Solar energy utilized for water pumps does not produce any carbon footprints into the environment and renders a clean energy source. Though, elevated initial cost relative to traditional diesel pumps is anticipated to remain a major challenge for industry participants.
Top Key Vendors:
Global solar pumps industry is ruled by major international organizations which have an existence over the value chain. The major market players in the global solar pumps market are Lorentz, SunEdison, Grundfos, USL, Bright Solar, CRI Pumps, TATA Power Solar Systems Ltd., and Shakti Pumps among others.
The Global Solar Pumps Market is segmented as follows –
DC Surface Suction
Regional Segment Insights:
North America: U.S, Canada, Mexico
Europe: Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific: Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World: Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
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Table of Contents:
4.Solar Pumps Market, By Product
4.2.Global Solar Pumps Sales, Revenue and Market Share by Product (2014-2017)
4.2.1.Global Solar Pumps Sales and Sales Share by Product (2014-2017)
4.2.2.Global Solar Pumps Revenue and Revenue Share by Product (2014-2017)
4.3.Solar Pumps Market Assessment and Forecast, By Product, 2014-2023
4.4.DC Surface Suction
4.4.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.5.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.6.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.7.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
5.Solar Pumps Market, By Application
5.2.Global Solar Pumps Sales, Revenue and Market Share by Application (2014-2017)
5.2.1.Global Solar Pumps Sales and Sales Share by Application (2014-2017)
5.2.2.Global Solar Pumps Revenue and Revenue Share by Application (2014-2017)
5.3.The Solar Pumps Market Assessment and Forecast, By Application, 2014-2023
5.4.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
5.5.1.Market Assessment and Forecast, By Region, 2014-2023 ($Million)
6.Solar Pumps Market, By Region
7.3.Shakti Solar Pumping System
7.4.Tata Power Solar Systems Ltd.
8.Global Solar Pumps Market Competition, by Manufacturer
In 2014, agriculture segment was the ruled application section of solar pumps and reported for 60% of the global solar pumps industry. The global rise in agricultural activities along with water needed for irrigation is projected to fuel solar pumps industry for this application segment. Government grants to solar pump manufacturers and farmers especially in developing countries of Asia Pacific region are anticipated to fuel the growth of the global solar pump market during the next few years for agricultural application. Continuous and clean water supply is essential to a remote place of diverse regions where the supply of electricity is an issue and using diesel pumps turns out to be costly. This factor is projected to boost the global solar pumps market during the forecast period since these places have immense prospective to explore renewable energy in the solar form.
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About Crystal Market Research:
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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