Indian solar water pump Market: Global Market Size, Industry Trends, Leading Players, Market Share and Forecast 2019- 2025

Indian solar water pump market is expected to grow significantly during 2018-2023 due to increasing application in domestic and agriculture sector, increasing government support, and low maintenance. Solar water pumps are easy to install due to which it is becoming popular among the end user. In India, the solar water pump is mainly used for irrigation and drinking purpose. The solar water pump of capacity 5hp (horsepower) can deliver about 124,000 liters of water per day. In India, a total of 1, 20,000 solar PV water pumping systems have been installed in 2016.

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The solar water pumps are widely used due to its several advantages such as low cost as compared to costly diesel water pumps and it also improves the energy access in remote areas. The Indian government decided to provide substantial capital subsidy support to the farmer. Government subsidies for installation of solar water pumps in agricultural activities are further driving the market. Solar water pumps are also used in livestock water usage, where it reduces the dependency on fossil fuel such as diesel and other energy sources such as windmills.

Maharashtra is significantly contributing in the Indian solar water pump market and in 2016; Maharashtra completed a tender process for obtaining 10,000 solar water pumps. However, Maharashtra offered approximately 95% of capital subsidy to farmers. Despite subsidy, only 6,500 farmers showed interest and out of them, only 650 provided an advance fund by July 2016 even after the state government signed contracts for the procurement of 10,000 pumps. The limited interest was allegedly due to stringent eligibility criteria, poor tender design and lack of awareness amongst farmers.

For irrigation and drinking water purpose, the Indian government declared a target to install 1 million solar water pumps of capacity approximately 3,000 MW by 2021. However, the actual cumulative installed in 2016 was approximately 25,000 pumps. The government offering massive subsidies of as much as 70-95% of the upfront capital cost of the pumps. Andhra Pradesh, Gujarat, and Tamil Nadu are contributing to the growth of Indian solar water pump market. Andhra Pradesh is one of the dominating states with an installed base of nearly 6,000 solar water pumps in 2016. Gujarat, Rajasthan, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, and Karnataka are other leading states. The report includes a detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, strategic recommendations, key company analysis, key findings, market insights, analyst insights and predictive analysis of the market.

The key players in the Indian solar water pump market include Alpex Solar Pvt. Ltd, Shakti Pump Limited, Bright Solar Pvt. Ltd., Claro Energy Pvt. Ltd, Conergy Energy System Pvt., Tata Power Solar systems ltd., Lorentz and so on. The vendor competition will increase with an increase in technological innovations, service extensions, and merger and acquisition. The major player in India solar water pump market is Shakti Pump Ltd. The market competitors of Shakti Pumps Ltd. include Apex International, Tata Power Solar, Greenmax Technology, Udhaya Semiconductors Ltd. and so on.

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Solar Water Pump Market-Segmentation

By Type
o Surface Water Pumps
o Submersible Water Pumps

By Component
o Solar Panel
o Monocrystalline Solar Panel
o Polycrystalline Solar Panel
o Thin-Film Solar Panel
o Controller
o Pumps

By Applications
o Agriculture Purpose
o Household
o Industrial
o By End-User
o Small-Scale Based
o Large-Scale Based

Company Profiles
o Alpex Solar Pvt. Ltd.
o Bright Solar Pvt. Ltd.
o Claro Energy Pvt. Ltd.
o Conergy Energy System Pvt. Ltd.
o CRI Group
o Grundfos
o Jain Irrigation System Ltd.
o JJ PV Solar
o Kirloskar Brothers ltd.
o LORENTZ

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