Saudi Arabia Solar Water Pumps Market to be Dominated by Submersible Segment in the Forecast Period with a High CAGR
Increasing use of solar energy pumps for irrigation &
agricultural sector and growing carbon emissions in the environment are driving
the market of Saudi Arabia solar water pump across the country.
According to
TechSci Research report, “Saudi Arabia Solar Water Pumps Market - By Region, Competition, Forecast & Opportunities, 2028”, the Saudi Arabia Solar Pump market is
anticipated to grow at a substantial CAGR during 2024-2028. The market's
expansion is linked to sharply rising investments in solar energy facilities’
construction, rising carbon emissions, and rising demand for portable water as
a result of population increase. Additionally, the forecasted expansion of the
Saudi Arabian solar pump market will be significantly impacted by the rising
usage of solar energy for irrigation and agricultural operations along with the
expanding trend toward sustainable energy-based goods.
The Saudi government is
concentrating on adopting energy conservation measures through energy pricing
modifications, fuel substitution methods, and encouraging investments in
renewable energy sources, including solar, to reduce the consumption of fossil
fuels and CO2 emissions. All sectors, including industrial, agricultural, and
others, are expected to apply such policies. Additionally, the government has
established a strategy to widely deploy renewable energy technologies (RETs), which
has also been included in the vision 2030 programme. Additionally, Vision 2030
emphasises on localising the production of renewable energy, industrial
equipment, and other industries in Saudi Arabia, including agriculture. The
implementation of solar energy in agriculture, especially in date farms, is one
of the primary goals of the Ministry of
Agriculture and Water. Additionally, the government intends to construct around
41 GW of solar capacity. These circumstances are potentially opening up market
prospects for solar-powered agricultural machinery and equipment, including
solar water pumps, in the near future. Additionally, according to information
from the International Renewable Energy Agency (IRENA), Saudi Arabia's
total installed PV capacity increased to 439 MW at the end of 2021.
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Based on the Type, the market
is segmented into Submersible and Surface. In the Saudi Arabian solar pump
industry, the submersible category amassed the biggest market share, with water
supply for towns or agricultural irrigation, being two uses for submersible
solar pumps. In the upcoming years, it is anticipated that the rapidly
expanding construction of desalination plants for urban and industrial use as
well as the rising demand for potable water caused by the region's extremely
low annual rainfall, extremely high evaporation rates, and groundwater
depletion, will have a significant impact on market growth in Saudi Arabia.
In
the regional analysis, the Saudi Arabia provision is divided into the Eastern
region, Western Region, Southern Region and Northern & Central Region. The
Northern & Central area of Saudi Arabia has the greatest market growth
share for solar water pumps, and it is anticipated that it will continue to
develop at a rapid rate over the next years. Large agricultural production
regions for diverse crop kinds, including barley, wheat, clover, watermelon, tomato,
and potato, among others, are the result of a number of reasons. Additionally,
this area recorded having a variety of wells, including artesian wells, manual
wells, and flowing wells, that were occupied over a sizable area. These wells
allowed the area to have sizable installations of pumps, including solar pumps,
for use in agriculture and other domestic applications. These factors caused
the Central region/area to enjoy the highest share of the high CAGR growth in
the upcoming year.
Recent
Developments:
- A growing number of businesses are
focusing on entering the solar industry and introducing solar water pumps in
the Kingdom of Saudi Arabia (KSA) by forging distribution and trade alliances.
In the upcoming years, a situation like this is anticipated to provide a highly
competitive environment in the market for solar water pumps in KSA. For
instance, CRI Group, Oswal Pumps Ltd, KSB Pumps, Crompton (Solar Pumps), and
others have product portfolios for solar pumps but have not yet entered the
Saudi Arabian market. Instead, they are concentrating on expanding access to
solar water pump goods for farmers and farms in Saudi Arabia.
- In 2020, Saudi Arabia successfully
installed a 2.2kW AC solar pumping system from Shenzhen Solartech. A farm in a
Riyadh neighbourhood gets watered by the project. The owner installed a
solar array on the roof to preserve fertile land.
Key market
players in the Saudi Arabia Solar Water Pumps Market include:
- Grundfos Saudi Arabia Company
Ltd,
- WILO Pumps Saudi Arabia Co.
Ltd
- Sulzer Ltd
- EBARA Pumps Saudi Arabia
- ITT Saudi Co
- KSB Pumps Arabia Ltd
- Lamah Co. Ltd
- Xylem Saudi Arabia
- United Park Co
- Flowserve Corporation
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“The Saudi
Arabia Solar Water Pumps market's growth is associated with significantly
growing solar energy facility building investments, rising carbon emissions,
and the rising need for portable water as a result of population growth.
Additionally, throughout the anticipated period, the expansion of the Saudi
Arabian solar pump market is expected to be significantly influenced by rising
consumer interest in products made with sustainable energy sources and growing
solar energy use for irrigation and agricultural reasons. Additionally, solar water
pumps are anticipated to be installed in a significant number of the upcoming
megaprojects in the kingdom of Saudi Arabia, including Neom, the Riyadh Metro,
the Makkah Public Transport Programme, Al Widyan, Jabal Omar, the Diriyah Gate
Project, and SEDRA Community Homes, among others, to meet the demand for water.’’
Therefore, the market growth of Solar Water Pumps in Saudi Arabia is expected
to rise in the upcoming years.”,
said Mr Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“Saudi Arabia Solar Water Pumps Market, By Type
(Submersible and Surface), By Capacity (Below 5 HP, 5-8 HP and Above 8 HP), By
Application (Irrigation, Drinking Water, Industrial, and Others), By Operation
(AC Pump and DC Pump), By Region, Competition,
Forecast & Opportunities, 2028F”, has evaluated the future growth potential of Saudi Arabia Solar Water
Pumps Market and provides statistics and information on market structure, size,
share, and future growth. The report is intended 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 present in the Saudi Arabia
Solar Water Pumps market.
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