Press release
Rapid Growth in Solar Pump Market Driven by Clean Energy Demand and Government Initiatives
Solar Pump Market Indights
According to the GMV, the global solar pump market is expected to grow at a CAGR of 33%, reaching INR 60 billion by 2024. This growth is fueled by increasing adoption of solar-powered irrigation systems, especially in developing regions such as Asia-Pacific, Africa, and Latin America, where access to electricity is limited or unreliable.
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"Solar pumps are emerging as a sustainable and cost-effective alternative for farmers and communities in off-grid areas," said Ashwini, AVP in research at Global Market Vision. "Supportive subsidies and technological advancements are further accelerating their deployment."
Key Findings of the Report:
• Market Size (2025): INR 40 billion in 2024
• Key Growth Drivers: Rising fuel costs, climate change adaptation, and renewable energy targets
• Top Segments: Surface pumps, submersible pumps
• Major Applications: Agriculture, water supply, and industrial use
• Leading Markets: India, China, Brazil, Kenya, and Australia
The report also highlights recent partnerships, government initiatives such as PM-KUSUM in India, and innovations by key players like:
Alpex Solar Pumps, Aqua Group, Bright Solar Limited, C.R.I. Pumps Private Limited, Crompton, LORENTZ, Dankoff Solar, Duke Plasto Technique Private Limited, EcoSoach, Ecozen Solutions, Franklin Electric, Grundfos, Jackson Group, K.S.B.Limited, Novergy Energy Solutions Pvt. Ltd., Shakti Pumps, SunEdison Infrastructure, Surya International, Tata Power Solar, Waaree Energies Ltd.
Key Solar Pump Company Insights:
Some of the key companies in the solar pump market include Alpex Solar Ltd, AQUA Groups. Bright Solar Limited, Grundfos Pumps India Private Ltd., Jakson, KSB SE & Co. KGA and others. Organizations in the market are focusing on innovative labeling solutions to enhance supply chain management. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies.
Alpex Solar Ltd manufacturer of solar panels specializes in photovoltaic modules and solar systems. Also, it provides procurement, engineering, and construction of AC/DC solar pumps to fulfill the needs of the agriculture sector.
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Bright Solar Limited is a player in the solar energy sector, specializing in the design, manufacturing, and supply of solar products and systems. Established to promote sustainable energy solutions, the company offers a diverse range of products, including solar pumps, solar water heaters, solar street lights, and solar power packs. Their solar pump portfolio is particularly notable, featuring submersible, surface, and DC solar pumps designed for agricultural and domestic water supply applications. These pumps are engineered to be efficient, reliable, and eco-friendly, helping to reduce dependency on traditional energy sources and supporting sustainable agricultural practices.
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Gauri Dabi | Business Development
Phone: +44 151 528 9267
Email: sales@globalmarketvision.com
Global Market Vision
Website: www.globalmarketvision.com
About Global Market Vision
Global Market Vision is an India based market research and consulting company. We provide most insightful as well as comprehensive quantitative and qualitative analysis of in-depth market research required for SME's and large enterprises.
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