Market Technology : Solar Pumps Market Globally Grow at a CAGR of 34.03% by Revenue During the Forecast Period 2017-2020

ALBANY, New York, Feb 09, 2017 : 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.

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Technavios analysts forecast the global solar pumps market to grow at a CAGR of 34.03% during the period 2016-2020.

Covered :
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.

Segments based on geography:
Americas
APAC
EMEA

Technavio's report, 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

Key driver
Insufficient power supply in developing countries
For a full, detailed list, view our report

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Key challenge
High initial investment
For a full, detailed list, view our report

Key trend
Demand for automated pump systems
For a full, detailed list, view our report

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