Press release
Solar Pumps Market 2016 to grow at a CAGR of 34.03% during the period to 2020
A solar pump runs on electricity generated by a solar PV array. The overall pump set is attached to the water source; the solar panel converts the solar energy into electricity, thereby operating the motor to pump water. These pumps eliminate the use of conventional fuel sources such as diesel. Also, they prove to be a cost-effective option for pumping water, especially in areas that face water scarcity and electricity shortage. Some of the major types of solar pumps are surface, submersible, and floating. These pumps are becoming more viable as their prices decline with increasing competition in the market. In addition, subsidies offered in various countries have also aided in lowering the costs of these pumps.
Global solar pumps market to grow at a CAGR of 34.03% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global solar pumps market for 2016-2020. To calculate the market size, the report considers the the demand for solar pumps from different end-users.
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
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Global Solar Pumps Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Bright Solar
• LORENTZ
• Shakti Pumps
• SunEdison
• Tata Power Solar
Other prominent vendors
• Conergy
• CRI Group
• Dankoff Solar
• Flowserve
• Greenmax Technology
• Grundfos
• Jain Irrigation Systems
• USL
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Market driver
• Insufficient power supply in developing countries
• For a full, detailed list, view our report
Market challenge
• High initial investment
• For a full, detailed list, view our report
Market trend
• Demand for automated pump systems
• For a full, detailed list, view our report
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