Solar Pumps Market Segments, Opportunity, Growth and Forecast By End-use Industry 2015-2025

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Increasing development in the industrial, residential and agricultural industry along with lower operation and maintenance cost, the demand for global solar pumps market is rapidly escalating. Solar Pump is a pump which runs on electricity generated by thermal energy (available from collected sunlight) or photovoltaic panels (method of converting solar energy into direct current electricity).

Solar Pumps

Market

Share, Global Trends,

Analysis, Research, Report,

Opportunities,

Segmentation and Forecast,

20152025

Future Market Insights

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Report Description

Increasing development in the industrial, residential and agricultural industry along with lower

operation and maintenance cost, the demand for global solar pumps market is rapidly

escalating. Solar Pump is a pump which runs on electricity generated by thermal energy

(available from collected sunlight) or photovoltaic panels (method of converting solar energy

into direct current electricity). Considering maintenance, this solar pumps last for more than 16

years on field. This solar pumps are neither dependent upon diesel nor electricity thus, ensuring

people at remote areas to avail the benefit which in turn will further result in increased

efficiency and productivity.Solar Pumps are free from difficulties like supply cut, feeder damage,

rate hikes etc. Additionally, solar pump provides less environmental impact than other powered

(internal combustion engine) pumps which have witnessed a major growth in the global solar

pumps market.

Solar Pumps Market: Drivers & Restraints

Solar pumps are also known as Solar PV water pumping system. Solar pumps are very useful

where grid electricity is unreachable and substitute sources (in particular wind) do not provide

adequate energy. Simultaneous growth in agriculture, demand for other water intensive

industries along with increasing government support (tax and subsidies benefits) are the major

factors driving the growth in solar pumps market. On account of shift in industry towards ecofriendly

feature, the demand for global solar pumps is increasing.


Report Description

However, higher investment cost, availability of spare parts (on time) and after sales services

are acting as nagging issue in the growth of the global solar pump market.

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520

Solar PumpsMarket: Segmentation

Global Solar pumps market can be segmented on the basis of types:

• Direct Current (DC) surface pump ( centrifugal ) or floating pump set

• AC surface or submersible pump set

• DC submersible

• Alternating Current (AC) AC floating

On the basis of application, the global solar pump market can be segmented into:

• Drinking water

• Agriculture Purpose

• Other (Chemical, Oil & gas)

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Report Description

Agriculture is considered as the largest application segment and is expected to witness the

fastest growth through 2015 to 2025. Growing agricultural activities in emerging markets such as

India and China, among others is expected to drive agriculture segment over the forecast period.

Solar Pumps Market: Region-wise Outlook

The global solar pump market is geographically segmented into seven key regions: North

America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East &

Africa. Asia-Pacific market is the fastest growing market and holds the major market share in

global solar pump market.In India, China and Japan, to assist the growth of agriculture, the

government is introducing various policies in these countries. The region is expected to grow at

a double digit CAGR through 2015 to 2025.

Solar Pumps Market: Key Players

Some of the key market participants in the global solar pumps market include TATA Power Solar

Systems, Lorentz, Bright Solar, SunEdison, Shakti Solar Pumping Systems, USL, among many

others.

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