Press release
Middle East and Africa solar pumps market is projected to reach at USD 602 Million by 2021.
solar pumps market
global solar pumps market is anticipated to witness a substantial compound annual growth rate (CAGR) of 34.3% over the forecast period i.e. 2015-2021. Regionally, the global solar pumps market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).
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With approximately 34.0% share, Asia-Pacific dominated the global solar pumps market in terms of volume in the year 2015. The region is also anticipated to witness the highest CAGR of 43.6% during 2015-2021, sparked by increasing government support to farmers in terms of subsidies in countries such as India, Bangladesh and China.
North America and Europe together are likely to witness a robust growth in global solar pumps market over the forecast period of 2015-2021. The market in these regions is likely to get escalated from formulations of mandatory government regulations regarding use of clean fuels in industries to curb the detrimental effects of global warming.
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