Press release
Solar Water Pump Market to Witness Astonishing Growth by 2029
Solar Water Pump Market is anticipated to grow at a considerable CAGR of 5.8% during the forecast period. The market growth is mainly attributed to the adoption of solar water pumps over diesel pumps owing to zero fuel costs and less labor and maintenance. The prominence of solar water pumps has been increasing gradually over the years due to its offering of clean, sustainable energy solutions when compared to fuel-powered pumps. The rise in fuel prices coupled with the shortage of the same is major restraints of diesel pumps, in turn boosting the adoption of solar water pumps. Furthermore, the high maintenance and other financial risks associated with the diesel pumps have resulted in an increased inclination toward solar water pumps, owing to their relatively greater advantages. In addition, increasing cohesive government initiatives promoting the use of solar water pumps in several countries is stimulating the growth of the solar water pump market.However, certain factors are affecting the growth of the market. Higher initial investment costs could be a barrier to market growth. Although despite the initial investment costs, once installed, the solar water pumps can be used as an affordable source of electricity to reduce energy bills.
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Market Coverage
The market number available for - 2021-2029
Base year- 2020
Forecast period- 2023-2029
Segment Covered-
By Type
Component
Applications
End-user
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Tata Power Solar Systems Ltd., Grundfos Pumps Corp., Bright Solar Ltd., LORENTZ, Shakti Pumps Ltd.
Recent Strategic Initiatives in the Global Solar Water Pump Market
In March 2021, Shakti Pump Ltd. announced that it has received a contract from the Uganda Government from the Ministry of Water and Environment for the Supply of solar-powered water pumping systems. The order export was $35 million from Uganda.
A full Report of Solar Water Pump Market is Available at: https://www.omrglobal.com/industry-reports/solar-water-pump-market
Solar Water Pump Market Report Segment
By Type
Surface Water Pumps
Submersible Water Pumps
By Applications
Agricultural
Water Supply
Other (Oil and Gas Fracking Activities)
By End-User
Small-Scale Based
Large-Scale Based
Solar Water Pump Market by Region
North America
United States
Canada
Europe
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of APAC
Rest of the World
Company Profiles
Alpex Solar Pvt. Ltd.
Bright Solar Ltd.
R.I. Pumps Private Ltd.
Grundfos Pumps Corp.
Jain Irrigation Systems Ltd.
JJ PV Solar
Kirloskar Brothers Ltd.
LORENTZ
Lubi Electronics
Rainbow Power Company Ltd.
Shakti Pumps (India) Ltd.
Span Pumps Pvt Ltd.
SunEdison, Inc.
Tata Power Solar Systems Ltd.
Topsun Energy Ltd.
Udhaya Semiconductors Ltd.
Waaree Energies Ltd.
Symtech Solar Group.
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More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
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