Press release
Pumps in Solar Power Generation Market Expecting Huge Growth During 2018-2025 Focusing On Leading Players Like EBARA Corporation, Flowserve Corporation, GRUNDFOS, KIRLOSKAR Brothers Limited
Pumps in Solar Power Generation market
Increase in global electricity demand, government support, and worldwide adoption of clean energy is projected to drive the market for pumps in solar power generation during the forecast period. However, high initial investment and capital cost for CSP plant that may adversely impact the market for pumps in solar power generation in near future.
Moreover, the factors such as substantial investment in R&D and growing number of concentrated solar power projects globally are projected to generate remarkable growth opportunity to the industry players.
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Top Key Players:- EBARA Corporation, Flowserve Corporation, GRUNDFOS, KIRLOSKAR Brothers Limited, KSB SE & Co. KGaA, Ruhrpumpen Group, Sulzer Ltd., The Weir Group PLC, WILO SE, Xylem Inc.
The market initiative and new development was observed as the most adopted strategy in global pumps in solar power generation market. For instance, in 2017 Sulzer launched SIL inline single stage centrifugal pump. The SIL pump range is designed to match up with the process requests in industrial applications. Developed for clean liquid processes, with the help of pumping technology. Similarly, Wilo announced Wilo-Yonos PICO series, a new generation of tested and tried heating pump.
The pumps in solar power generation market in Asia Pacific is expected to grow at a CAGR of 14.3% during the forecast period 2018 - 2025. China being the leading electricity producer in the world, invested around US$ 100 Bn in clean energy in the year 2015 and is highly focused on the development of renewable energy. Also, Also, Indonesia's government has plans to increase the electricity access from 85% to 98% by 2022. The US$ 93 Bn expansion plan comprises of 291 generation plants, 1375 new substations as well as 47,000 km of new transmission and distribution lines.
Key findings of the study:
o From a growth perspective India in Asia-Pacific region is anticipated to witness the most lucrative CAGR growth rate of 14.6% during the forecast period
o Power Tower segment in power plant type segment in Asia Pacific is estimated to grow at a significant CAGR from 2018 - 2025.
o Molten Salt Pumps captured the Asia Pacific pumps in solar power generation market in 2017 and is also expected to dominate the market throughout the forecast period.
The global pumps in solar power generation market has been segmented on basis of two parameters; power plant type and pump type. The market is broken down on the basis of power plant types as linear parabolic trough, power tower, and Fresnel plant. Based on pump type the market is bifurcated into heat transfer fluid pump and molten salt pump. On the basis of geography, the pumps in solar power generation market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
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