Press release
Solar Water Pumps Market 2023 Top Prominent Key Players are Lorentz, SunEdison, Inc., CRI Pumps Pvt. Ltd, Solar Power & Pump Co LLC, Tata Power Solar Systems Ltd., Shakti Solar Pumping System, WENLING JINTAI PUMP FACTORY, Bright Solar Pvt. Ltd., Grundfos
A Solar Water Pump is a device, which runs on the electricity generated by photovoltaic panels. Solar water pumps are not connected with the grid and result in very less emission compared to conventional pumps. Solar water pumps are increasingly used in regions where grid electricity is unavailable and alternative sources such as wind do not provide enough power for operations. Solar pump components consists of solar panels, a controller and a pump while the size of the PV system determines the operating capacity of the pump.
Solar pumps are increasingly being used in domestic and agriculture applications, especially for delivering drinking water for livestock and irrigation. Also, solar water pumps are used in oil and gas fracking activities to reduce the environmental impact of the oil recovery process.
The Solar Water Pumps Market is expected to grow at a CAGR of 5.6% during the forecast period.
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Study Objectives of Global Solar Water Pumps Market:
• To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global solar water pumps market
• To provide insights about factors affecting the market growth
• To analyze the global solar water pumps market based on various tools such as Supply Chain Analysis, and Porter’s Five Forces Analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segments by material type, product, application and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the solar water pumps market
Global Solar Water Pumps Market:
The global solar water pumps market is driven by the increased agriculture activities along with the increase in use of water for water based agricultural practises. The Asia-Pacific region is the leading market for solar water pumps. Rapid agriculture activities in countries such as China, India, Bangladesh and Pakistan and reduced grid connectivity for agricultural activities, drive the market for solar water pumps in these countries. Furthermore, increased need for clean water for drinking and irrigation in countries such as Morocco, Nigeria, Namibia and Kenya, in the African region, is also driving the need for the solar pumps in the region. The UN development programs to promote the use of solar energy in the region, is also driving the market.
Key Players:
The key players of the global solar water pumps market are Lorentz (Germany), SunEdison, Inc. (U.S.), CRI Pumps Pvt. Ltd (India), Solar Power & Pump Co LLC (U.S.), Tata Power Solar Systems Ltd. (India), Shakti Solar Pumping System (India), WENLING JINTAI PUMP FACTORY (China), Bright Solar Pvt. Ltd. (India), Grundfos (Denmark) and American West Windmill and Solar Company (U.S.).
Intended Audience:
• Distributer & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities
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Analysis:
• Product matrix which gives a detailed comparison of the market for different recycled product types
Additional Information:
• Regulatory Landscape
• Pricing Analysis
• Macroeconomic Indicators
Geographic Analysis:
• Geographical analysis across 15 countries
Company Information:
• Profiling of 10 key market players
• In-depth analysis including SWOT analysis, and strategy information of related to report title
• Competitive landscape including emerging trends adopted by major companies
Global Solar Water Pumps Market – Regional Analysis
Globally, the Asia Pacific region accounts for the leading market for the solar water pumps. Growing market in some of the APAC countries such as India, China, and Japan, driven by the increasing industrialization, contributes to the market growth majorly. The market is likely to retain its dominance throughout the forecast period, attributing to the burgeoning agriculture sector in the region.
Furthermore, factors such as the rapid agriculture activities in countries such as China, India, Bangladesh, and Pakistan along with the reduced grid connectivity for agricultural activities foster the market for solar water pumps in the region.
The North America market is estimated to increase at a significant pace during the assessment period. Moreover, sectors that are heavily reliant on water, such as pharmaceutical, food & beverages, and water treatment are fuelling the sales in the market.
Europe region is another lucrative market for solar water pumps. The market in the region is growing mainly due to the flourishing food & beverage and water treatment sectors.
The Middle East region is demonstrating enormous potential mainly due to the efforts from the countries in the region for reducing the dependency on their oil and gas market which provides opportunities to a flourishing water treatment market translating into demand for solar water pumps.
Simultaneously, factors such as the increased demand for clean drinking water in countries such as Nigeria, Morocco, Kenya, and Namibia in the African region, is providing impetus to the market growth, driving the demand for the solar pumps in the region. Also, the UN development programs to promote the use of solar energy in the region are fostering the market growth.
Global Solar Water Pumps Market – Competitive Analysis
The market is highly competitive yet consolidated. Mergers & acquisitions, Innovation, brand reinforcement, and partnership remain the key trends for leading players. They strive to develop pumps that can reduce the downtime and maintenance with longer life lowering the total costs. Due to the expected extensions in product, service, and product innovations, the market is soon expected to witness a fierce competition.
Key Players:
Some of the eminent players leading the market include SunEdison, Inc. (US), Lorentz (Germany), CRI Pumps Pvt. Ltd (India), Tata Power Solar Systems Ltd. (India), Solar Power & Pump Co LLC (US), Shakti Solar Pumping System (India), Bright Solar Pvt. Ltd. (India), Wenling Jintai Pump Factory (China), American West Windmill and Solar Company (US), and Grundfos (Denmark).
Industry/ Innovations/ Related News
September 14, 2018 – Patanjali Ayurved (India), one of the largest business empires, announced various plans to launch new solar street lights, solar hybrid inverter and solar water pumps. These plans were revealed during the launch of 60-megawatt solar panel plant, being established to achieve self-sufficiency for the brand’s energy demands.
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