Global solar water pump Market Share 2021: Global Trends, Key Players, Industry Analysis Report to 2027

The global solar water pump market is anticipated to grow at a considerable CAGR of 5.8% during the forecast period (2021-2027). The market growth is mainly attributed to the adoption of solar water pumps over diesel pumps owing to zero fuel costs and less labor and maintenance. The prominence of solar water pumps has been increasing gradually over the years due to its offering of clean, sustainable energy solutions when compared to fuel-powered pumps. The rise in fuel prices coupled with the shortage of the same is major restraints of diesel pumps, in turn boosting the adoption of solar water pumps. Furthermore, the high maintenance and other financial risks associated with the diesel pumps have resulted in an increased inclination toward solar water pumps, owing to their relatively greater advantages. In addition, increasing cohesive government initiatives promoting the use of solar water pumps in several countries is stimulating the growth of the solar water pump market.

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According to the 2018-2019 report of the Ministry of New and Renewable Energy (MNME), in India about 240,000 solar PV water pumps have been sanctioned and over 237,000 solar pumps have been installed as of March 2019. Likewise, the Government of India announced various schemes to meet their renewables targets for 2022 by providing financial support of around $4.7 billion to the implementing agencies. The initiatives intend to install 1.75 million solar-powered agriculture pumps of the individual pump by the end of 2022.

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Global Solar Water Pump Market Report Segment

By Type
• Surface Water Pumps
• Submersible Water Pumps

By Applications
• Agricultural
• Water Supply
• Other (Oil and Gas Fracking Activities)

By End-User
• Small-Scale Based
• Large-Scale Based

Global Solar Water Pump Market by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of the Asia-Pacific
Rest of the World

Company Profiles
• Alpex Solar Pvt. Ltd.
• Bright Solar Ltd.
• C.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.

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