Press release
Pumps in Solar Power Generation Market Outlook and Analysis by 2025 | Prominent Players: Ebara Corporation, Flowserve Corporation, Grundfos, Kirloskar Brothers Limited
Pumps in Solar Power Generation Market
Increase in electricity demand and growth in adoption of clean energy are projected to escalate the market growth at a CAGR of 13.5%
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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Latest market study on "Pumps in Solar Power Generation Market to 2025 by Plant Type (Linear Parabolic Trough, Power Tower, and Fresnel Plant); and Pump Type (Heat Transfer Fluid Pump and Molten Salt Pump) - Global Analysis and Forecast?, the pumps in solar power generation market is estimated to reach US$ 987.4 million by 2025 from US$ 365.1 million in 2017. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Europe is the dominant region in the pumps in solar power generation market and this region is expected to continue its lead during the forecast period. Where, Spain dominated the worldwide demand for pumps with the increase in concentrated solar power (CSP) systems installation which is followed by United States. Few of the CSP plants located in the country are Termosol 2, Moron, Orellana, Palma del Rio II, and Manchasol-2. Moreover, European government's initiative for cost-effective power generation and distribution owing to the constantly rising electricity demand and its increasing prices also fueling the market growth. Asia-Pacific is expected to be the fastest growing region in pumps in solar power generation market owing to increasing focus of governments of various economies in Asia-Pacific towards renewable power generation.
Linear parabolic trough is leading segment, whereas power tower plant type technology is growing rapidly across the globe. According to the article published by the German Aerospace Center (DLR) in 2012, the number of operating power tower plants were accounted for 3.5%, however, under construction power tower plants accounted for 17.9% during the same year.
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The report segments the global pumps in solar power generation market as follows:
Global Pumps in Solar Power Generation Market- By Plant Type
Linear Parabolic Trough
Power Tower
Fresnel Plant
Global Pumps in Solar Power Generation Market- By Pump Type
Heat Transfer Fluid Pump
Molten Salt Pump
Global Pumps in Solar Power Generation Market- By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
Asia Pacific (APAC)
Australia
China
India
Middle East & Africa (MEA)
South Africa
Saudi Arabia
UAE
South America (SA)
Brazil
Chile
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