Solar Water Pumps Market to be dominated by Submersible Pump segment through 2028
Increasing demand for clean energy pump systems and growing agricultural
activities to drive Global Solar Water Pumps Market in the forecast period,
2023-2028.
According to TechSci Research report, “Global Solar Water Pumps Market - By Region, Competition, Forecast
& Opportunities, 2028”, Global Solar Water Pumps Market is
anticipated to grow at a 9.57% CAGR in the forecast period, 2024-2028, because
of government subsidies to farmers, growing solar pump manufacturers and
particularly in Asia pacific economies.
The market for solar water pumps has
experienced rapid growth. Owing to the growing agricultural activity across the
globe. Additionally, it is projected that greater production of renewable
energy will improve the market's performance during the evaluation period.
Solar water pumps can be utilized to supply
drinking water for domestic and commercial requirements. As a result, a
solar-powered water pump is one of the most widely used technologies for
providing water in rural and isolated locations without access to power, for
the reason that it doesn't require any electricity source.
Browse over XX market data Figures spread through 180 Pages and an in-depth TOC on "Global
Solar Water Pumps Market.”
Global Solar Pumps Market is divided into
Type, Operation, Capacity, Application. Based on Operation, the market is
divided into AC Pumps and DC Pumps. Based on Capacity, the market is divided
into Below 5 HP; 5 HP; 5-8 HP & Above 8 HP. Based on Application, the
market is divided into Irrigation, Drinking Water, Industrial & Others.
Based on Type, the market is divided into
Submersible & Surface. Here, submersible Pump is expected to hold the
largest market share due to better energy efficiency, it frequently depends on
the water. In wells and boreholes, submersible pumps are fully submerged in the
water source. Moreover, submersible pumps can be located horizontally inside
water reservoirs with the minimum depth of 0.5 m parallelly fastened and
equipped with a cooling sleeve to adequately cool the motor, which increases
efficiency by using less power to move the fluid via the pump's liquid path.
Additionally, surface pumps are typically
installed at a lake's edge on the water's surface. They can pull water from
roughly 6.5 vertical meters and are highly suited for moving water over long
distances. Deep underground, submersible pumps have suction heads which are
more than ten meters high. As a result, it can pull water from much deeper
sources. As per above mentioned factors the surface pumps segment is also
expected to grow.
Based on the Operation, the market is broadly
categorized into AC Pumps and DC Pumps. Moreover, A.C. pumps are expected to
hold the largest market share due to their High Durability and Performance, a
pump assembly with a DC motor is directly connected to a P.V. array by a DC
controller. In addition, DC pumps have a lower rate of acceptance than AC pumps
due to several cases like incorrect wiring, electronic circuitry failure,
unsafe DC voltages, they did not offer a good electrical connection. Owing to
which the demand for AC pumps is growing rapidly.
Based on the Capacity, this market is
segmented into Below 5 HP; 5 HP; 5-8 HP & Above 8 HP, Upto 5 HP. Above 8 HP
segment is expected to dominate the market though out the projected period due
to its most suction head and is significantly less expensive feature and
high-power ratings.
Based on Region, Asia Pacific region is
expected to dominate the market for Solar Water Pumps during the forecast
period. Asia-Pacific solar pump market is analyzed across China, Japan, South
Korea, Australia, and rest of Asia-Pacific. In Asia-Pacific, solar energy is
widely used in generation of electricity for standalone systems and rural
electrification. The growth of the Asia-Pacific solar pump market is driven by
increase in government initiatives, such as Akshay Urja, which includes
electrification of rural areas. These initiatives are expected to increase the
demand for PV energy, as governments would distribute solar pump in rural
areas. Such initiatives are expected to increase the demand for solar pump and
contribute toward the growth of the market.
Major companies operating in the Global Solar
Water Pumps market are:
- Alpex Solar Pumps
- Aqua Group
- Bright Solar Limited
- C.R.I. Pumps Private Limited
- Crompton
- LORENTZ
- Dankoff Solar
- Duke Plasto Technique Private Limited
- EcoSoach
- Ecozen Solutions
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“The Global
Solar Water Pumps Market is expected to expand during the projected period. During
the forecast period, factors like rising demand for clean energy pump systems
and favorable government incentives and tax refunds for the installation of
solar water pump systems are anticipated to propel the market growth, The
market for solar water pumps has been expanding quickly. Due to various
national and local government regulations encouraging the production of energy
from renewable sources to lessen reliance on fossil fuels and reduce pollution
emissions, this was attributed to the low cost of PV panels, the substantial
presence of solar water pump manufacturers, and the high awareness of solar
water pumping. Additionally, the market has benefited from the PV industry's rapid
development by spotting a decrease in the cost of solar water pumps market will
future grow” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
Solar
Water Pumps Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, Segmented By Type
(Submersible & Surface), By Operation (AC Pumps, DC Pumps), By Capacity
(Below 5 HP; 5 HP; 5-8 HP & Above 8 HP), By Application (Irrigation,
Drinking Water, Industrial & Others), By Region, Competition, 2018-2028”, has
evaluated the future growth potential of global Solar Water Pumps market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global Solar Water Pumps market.
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