Global Solar Pumps Market will multiply at an impressive CAGR of 35.7% by 2027 & Top Key Players USL, Bright Solar Water Pumps, Tata Power Solar Systems Ltd, CRI Group, Solar Power & Pump Co., LLC, Rainbow Power Co Ltd, American West Windmill & Solar Comp

The global solar pump market can be segmented on the basis of product, end-user and region. The product type DC suction is the prominent product for solar pumps and accounted for approximately 80% of total solar pumps market in 2017. The agriculture end user segment is anticipated to be the dominating segment in the forthcoming years. Asia pacific is expected to be the dominating region. In Asia Pacific, India has large agriculture base on the account of which it is expected to be the major market in upcoming years. Growing development in the industrial, residential and agricultural industry along with lower operation and repairs cost is driving the global solar pumps market.

By region, the global solar pumps market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the global solar pumps market. This is attributed to the factors such as rising agricultural activities , growing government subsidies in the form of monetary incentives is expected to drive solar pumps market in Asia Pacific. Asia Pacific countries such as China and India are major agricultural countries with abundant availability of solar energy.

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The Middle East and Africa is anticipated to grow at a significant pace during forecast period. The decreasing dependency on importing fossil fuels such as diesel and butane for the generation of electricity, agriculture process and drinking process is anticipated to fuel the market of solar pumps in the region.

Agriculture and Government Policies is anticipated to boost the global solar pump market
Agriculture is the major application producing substantial demand for solar pumps worldwide. Agriculture is projected to remain a leading application throughout the forecast period. The adoption of solar pumps for irrigation purpose is expected to continue at a rapid pace across the world. Additionally, high use of solar water pumps by farmers is also expected to support the market growth of solar water pump in the next five to six years. Advanced agricultural technologies and increasing efforts for water conservation are supporting the solar powered pumps market. The government is providing farmers with an interest-subsidy along with reduced capital-subsidy in order to support and encourage large-scale deployment of solar pumps in near future.

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Agricultural sector has become a key consumer of solar pumps, accredited to attractive government schemes proposed for farmers and growing affordability of solar pumps. Increasing demand from water-intensive industries will remain one of the key factors positively influencing the market growth in this region. In addition, tax and subsidy benefits as a result of rising support from the government to renewable energy projects is expected to be a significant factor in propelling the solar pumps market in the next five to six years.

The report titled, “Global Solar Pumps Market Analysis & Opportunity Outlook 2027” delivers detailed overview of the global solar pumps market in terms of market segmentation by product, by end users, by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players such as USL, Bright Solar Water Pumps, Tata Power Solar Systems Ltd, CRI Group, Solar Power & Pump Co., LLC, Rainbow Power Co Ltd, American West Windmill & Solar Company, Grundfos, Wenling Jintai Pump Factory, Sun Edison, Shakti Solar Pumping System, Lorentz, Greenmax Technology, Conergy, Dankoff Solar, Greenmax Technology and Flowserve of the global solar pumps market. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of global solar pumps market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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