Press release
Global Pumps in Solar Power Generation Market to 2025 – Ebara, Flowserve Corporation, Grundfos, Kirloskar Brothers, KSB Se, Ruhrpumpen Group, Sulzer, Weir Group, Wilo Se, and Xylem
Pumps in Solar Power Generation Market
The major players operating in the Pumps in Solar Power Generation Market are Ebara Corporation, Flowserve Corporation, Grundfos, Kirloskar Brothers Limited, KSB Se & Co. KGAA, Ruhrpumpen Group, Sulzer Ltd., The Weir Group Plc., Wilo Se, and Xylem Inc.
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Global pumps in solar power generation market is expected to grow from US$ 365.1 million in 2017 to US$ 987.4 million by 2025 growing at a CAGR of 13.5% from 2018 to 2025.
Pumps in Solar Power Generation Market is at its growing phase in many developing countries owing to increase in worldwide concentrated solar power systems installation. The market is further expected to flourish in Asia-Pacific and Middle East with the rise in demand for electricity in these regions.
The major factors propelling the market growth for pumps in solar power generation are the government support along with the rise in adoption of clean energy and increase in research & development activities in order to reduce the overall cost of concentrated solar power projects.
The report focuses on in-depth segmentation of Pumps in Solar Power Generation Market by plant type, pump type, and regions. The geographic segmentation of this report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By plant type, linear parabolic trough plant type accounted for the largest share of the Pumps in Solar Power Generation Market in 2017, whereas Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to rise demand for pumps with the increase in installation of concentrated solar power systems.
Europe is one of the prominent regions in Pumps in Solar Power Generation Market which is contributing to the highest revenue globally due to constantly rising electricity demand in this region and increased in installation of CSP projects mainly in Spain. Along with this, European government has taken the initiative for cost-effective power generation and distribution due to rise in electricity & energy prices. Such initiative helps the production of electricity through renewable energy sources and aims to produce completely decarbonized electricity generation by 2050.
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KEY TAKEAWAYS 15
2.1 EUROPE HOLDS THE LARGEST MARKET SHARE IN PUMPS IN SOLAR POWER GENERATION MARKET IN 2017 15
2.2 LINEAR PARABOLIC TROUGH IS THE LEADING SEGMENT IN 2017 16
3. PUMPS IN SOLAR POWER GENERATION MARKET LANDSCAPE 17
3.1 MARKET OVERVIEW 17
3.2 MARKET SEGMENTATION 18
3.2.1 Global Pumps in Solar Power Generation Market - By Plant Type 19
3.2.2 Global Pumps in Solar Power Generation Market - By Pump Type 19
3.2.3 Global Pumps in Solar Power Generation Market - By Geography 19
3.3 PEST ANALYSIS 20
3.3.1 North America PEST Analysis 20
3.3.2 Europe PEST Analysis 22
3.3.3 Asia Pacific PEST Analysis 24
3.3.4 Middle East & Africa PEST Analysis 26
3.3.5 South America PEST Analysis 28
4. PUMPS IN SOLAR POWERT GENERATION MARKET - KEY INDUSTRY DYNAMICS 30
4.1 KEY MARKET DRIVERS 30
4.1.1 Increase in electricity demand fuelling the demand for pumps in solar power generation 30
4.1.2 Government support and rise in adoption of clean energy boosting the demand for pumps in solar power generation 30
4.2 KEY MARKET RESTRAINTS 30
4.2.1 High initial investment and capital cost for CSP plant installation 30
4.3 KEY MARKET OPPORTUNITIES 31
4.3.1 Substantial investment in R&D in order to reduce the overall project cost 31
4.4 FUTURE TRENDS 31
4.4.1 Development in CSP technology and growing number of CSP plants 31
4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS 32
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