Solar Pumps Market - Advancements in Agriculture

Market Definition:
Solar Pump is a pump which drives on electricity that is generated by thermal energy or photovoltaic panels in which solar energy is directly converted into direct current electricity. These solar pumps last for more than 16 years on field. Expanding farming exercises combined with water extraction for water system in view of sustainable power source is relied upon to drive the worldwide solar power pumps in the coming years. Nations, for example, China, India, Bangladesh, Pakistan, Morocco, Kenya, Namibia, and Nigeria have set focuses to lessen petroleum product imports and advantage fiscally from it. These locales have inexhaustible sun oriented vitality supply with an enormous sustainable power source tapping potential. This factor is required to enlarge sun powered pump showcase development over the conjecture time frame. Expanding government endowments from as money related impetus to introduce solar power pumps is additionally anticipated that would drive the market development over the figure time frame. Expanding reliance on sustainable power source construct items in light of record of exhausting petroleum derivative stores is likewise anticipated that would drive sunlight based pumps advertise over the figure time frame.

Major Key Players:
Some of the major companies in the global Solar pumps market are Lorentz, SunEdison, Grundfos, USL, Bright Solar, CRI Pumps, TATA Power Solar Systems Ltd., and Shakti Pumps.

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Market Segmentation:
The global solar pumps market is segmented on the basis of product application and geography. On the basis of product, the global solar pumps market can be segmented into DC surface suction solar pumps, ac submersible solar pumps, DC submersible solar pumps, ac floating solar pumps. On the basis of application, the market is segmented into agriculture and drinking water. On the basis of geography, the global solar pumps market can be segmented into North America, Europe, Asia-Pacific and Latin America and Middle East and Africa.

Market Analysis with Latest Growth Factors:
Solar pumps are also often termed as Solar PV water pumping systems. These pumps are extremely useful at the times when grid electricity is unreachable and substitute sources (in particular wind) do not provide adequate energy. Moreover, advancements in agriculture, better demand for other water intensive industries coupled with increasing government support (tax and subsidies benefits) are the major factors driving the growth in solar pumps market. Solar power pumps are fundamentally utilized for farming and drinking water purposes. They are utilized as a part of remote areas where off-lattice vitality as power isn't accessible. Utilization of sun based vitality to drive draws chop down the working cost, which is significantly devoured as diesel. Stringent government directions to lessen carbon impressions into the environment are relied upon to expand sunlight based pumps showcase development throughout the following seven years. Sun oriented vitality utilized for water pumps does not produce any carbon impressions into the air and gives a spotless wellspring of vitality. Government sponsorships as monetary motivating forces to ranchers and solar power pump makers are relied upon to surge the market growth in coming years. In any case, high starting cost coupled with customary diesel pumps is expected to deter the market growth to some extent.

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Regional Analysis:
On the basis of region, Europe is expected to dominate the smart buildings market during the forecast period, owing to the augmented initiatives by the region’s governments for development and innovation of building’s smart and intelligent structures. Moreover, in Europe initiatives to push smart and zero energy buildings, with compulsory changes to country level building codes and the Energy Performance of Buildings Directive (EPBD), are also responsible in propagating the growth of this market to enhance existing infrastructure.

Major Points from Table of content:
• Executive Summary
• Research Methodology
• Market Dynamics
• Industry Overview
• Global Solar Pumps Market, By Product (2017-2025)
• Global Solar Pumps Market, By Regions (2017-2025)
• Market Competition Analysis

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