Solar Water Pumps Market Leading Countries, Companies, Drivers, Significant Growth, Analysis by Manufacturers, Challenges and Forecast 2023

Global Solar Water Pumps Market Information Report by Product (DC Surface Suction, AC Submersible, DC Submersible, AC Floating), by Application (Agriculture, Drinking Water) and by Region - Global Forecast to 2023

Global solar water pumps market is growing pervasively mainly due to the Solar Water Initiative and the potential of solar water pumps in transforming lives and ways of working. Solar-powered water pumps offer so many possibilities for the development and humanitarian aid, from lighting to internet connectivity to the water provision.

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Augmenting demand for access to the clean and safe drinking water, globally, is escalating the market on the global platform. Regions, where solar power is abundantly available, are reducing their dependency on diesel fuel which proves to be an expensive option. And hence, these regions are investing hugely in the solarization of water supply infrastructure to bring drinking water supply sustainably.

Acknowledging the potential, the market is demonstrating currently; Market Research Future (MRFR), in its recently published study report asserts that the global solar water pumps will reach exponential heights by 2023, registering a 5.6% CAGR during the anticipated period (2017 – 2023).

Attributing to their wide-spread application areas, solar water pumps witness huge demand, and hence, its market is increasing rapidly. Additional factors supporting the market growth include; rapidly increasing population, industrialization, urbanization and most importantly, the depleting water reserves worldwide.

Improving economic conditions are undoubtedly supporting the market growth, boosting the consumer’s purchasing power. Also, expansion of distribution channels is expected to provide impetus to the market growth during the forecast period.

On the other hand, in many countries awareness about the benefits of solar water pumps is still low which is expected to impede the market growth. As a result of increasing demand for sustainable water supply, additional funding is being secured which will enable the initiatives to expand the demand in the emerging regions, scaling up the market size.

Global Solar Water Pumps Market – Segments

The MRFR analysis is segmented into three key dynamics for the convenience of understanding;

By Products : DC Surface Suction, AC Submersible, DC Submersible, and AC Floating among others.

By Applications : Agriculture and Drinking Water among others.

By Region : North America, Europe, APAC and the Rest-of-the-World.

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.

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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).

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This release was published on openPR.