Solar Water Pumps Market Research Report - Global Forecast till 2030

Solar Water Pumps Market Research Report: Information by Solar water pumps (Submersible Pumps and Surface Pumps), Application (Agriculture, Drinking Water, and Others), and by Region (North America, Europe, Asia-Pacific, Middle East, Africa, and South America)—Forecast till 2030

ID: MRFR/E&P/2663-HCR | February 2021 | Region: Global | 185 pages

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Solar Water Pumps Market Overview 

Solar Water Pumps Market size is estimated to grow at a CAGR of 9.50% during the forecast period.

Solar pumps are exceptional as they pump water through energy produced by sunlight. The solar pumps are essential in rural or undeveloped areas that have no electric grid infrastructure. There is a wide range of solar pumps for various operations. The solar pumps are designed to use DC electric power through photovoltaic modules. The variation in solar pumps is pool pumps. Transfer pumps, circular pumps and irrigation pumps are some of the crucial types of solar water pumps.

Solar pumps are alternative clean and renewable pumps for windmills and fuel generators. The solar water pumps are used for water extraction purposes. Sometimes the pumps are used for groundwater extraction of 10 meters depth. During this process, there is a high requirement for electricity. However, the powering required for this pump is available through solar energy. The use of solar water pumps is rising in urban areas. The energy efficiency and cost efficiency features increase the need for solar pumps in developed regions. Due to all these factors, the solar water pumps market value will reach 1,725.0 million. 

Covid-19 Analysis 

The covid 19 solar water pumps market trends shows a decrease. The factors responsible for the decrease are fewer investments and economic fluctuations. Due to covid 19, the demand and supply chain of the solar water pumps market is severely affected. The price reduction is another covid effect on this market.

The slowdown of mining, groundwater extraction and treatment is adversely affecting the demand for solar water pumps. Furthermore, the possibilities of newer wave of covid will lead to lockdowns and market shut down for the solar water pump industry. Also, the raw materials price is increasing that disturbs the manufacturing process of solar water pumps. Ultimately, all these factors are declining the demand and growth rate of solar pumps.

Competitive Landscape

There is plenty of competition in the solar water pumps market. The demand for clean and energy is driving more key players towards this market. Also, there is going to be massive market expansion measures during the forecast period. Technological advancements will be a crucial part of market growth. 

The key players of the solar water pumps market are 

Market Dynamics 

  • Crucial market drivers 

The investment for infrastructural developments is the major demand driving factor of the market. During the next decade, the infrastructure is growing at an exponential rate. Countries such as China, Japan, Indonesia, China and Asia Pacific regions are the largest investors in infrastructural developments. These countries are spending more on these development projects. Increasing infrastructure enhances water extraction. Especially, these developments are happening in rural and undeveloped regions. It ultimately changes solar water pumps market outlook in the forecast period. 

Today, many governments are supporting the generation of clean and renewable energy. As part of the governmental initiative, water storage, water extraction and water recycling are crucial measures. The environmental organisations are approaching the government to invest more in energy-efficient solar-water pumps. This support by the government is also another demand driving factor of the solar water pumps market.

The adoption of renewable energy technologies such as solar water pumps will rise in the upcoming years. Further, there is high inclination towards affordable and clean energy. Many end users are attracted to technologies that use clean and cost-efficient energy alternatives. Therefore, the use of solar water pumps will grow in the construction and industrial sectors. All these crucial drives will enhance the demand and profitability of the market. 

  • Market growth opportunities 

The increasing rate of urbanisation provides solar water pumps market growth opportunities. The growth of urbanisation will lead to water and water treatment measures. The development is expected to raise the use of solar water pumps in the forecast period. Urbanisation will play a key role in the solar water pumps market expansion.

The growing population in urban areas requires energy-efficient water pumps for a constant water supply. The use of solar pumps in the urban area will be high in the upcoming years. Also, solar water pumps are crucial in the agricultural sector. The agricultural sector has a high demand for irrigation equipment. Solar water pumps are an exceptional technology in rural and agricultural lands. Also, it is a pump that can work without electric grid infrastructure. Therefore, the adoption of solar water pumps in the agricultural sector will create remarkable growth opportunities. 

  • The market restraints 

The installation of solar water pumps is a serious restraint in this market. There are plenty of complications involved in installing solar water pumps. The cost of installation affects the entire cost efficiency advantages of this market. Most solar water pumps are prevalent in rural areas. The rural areas do not have proper electrical grid infrastructure. The land required and solar energy required is high. This makes the installation of solar water pumps costly. To generate high solar energy vast land is required. After the installation of solar panels, the land cannot be used for any other operations. These are the restraints that can hamper market growth. 

  • The market challenges 

There is high competition in the solar water pumps industry. Local and regional companies create serious market challenges. Providing cheap-quality alternatives is a challenge for this. It affects the reliance on solar water pumps manufacturer. These local companies take over demand through price effectiveness. Due to the proximity advantages, unorganized companies take over the demand much earlier. All these factors hamper the entry of global players into the regional soar water pumps market. The key players are taking measures to increase awareness for quality solar pumps in the forecast period. 

  • Cumulative growth analysis 

The high installation costs of the solar water pumps are major barriers to market growth. There is going to be more awareness about quality solar pumps. Also, the growth of the market depends on the effectiveness, energy-efficiency and low operating cost. These are the topmost concerns of global market growth. Awareness about quality solar pumps players a major role in market expansion. Promoting the benefits of quality will increase the solar pumps market value. Further, the market drivers such as infrastructural development demand for renewable energy and demand from the agricultural sector will benefit the market. 

  • Value chain analysis 

Asia pacific holds a maximum of solar water pumps market share. The increase in urbanization, industrialization and population create more opportunities for the solar pumps market in Asia pacific. Furthermore, the investments in the market will reach billions in the forecast year. The establishment of new solar water panels is the major growth factor for the market. India and China are investing huge capital in clean energy. Also, these factors fuel the demand for solar pumps in the upcoming years. The Asia Pacific region will record the highest demand rate. 

Segment Overview 

By type 

  • Solar submersible pumps 

  • Solar surface pumps 

By power rating 

  • Below 3HP 

  • 3HP to 10 HP 

  • Above 10 HP

By drive type 

  • AC motor powered solar water pumps 

  • DC motor powered solar water pumps 

By end-user 

  • Agriculture 

  • Residential 

  • Commercial 

  • Industrial 

By region 

  • Asia pacific 

  • Europe 

  • Latin America 

  • North America 

  • Middle East 

Regional Analysis 

The Asia Pacific is the rapidly growing solar water pumps market in the world. Countries having massive demand for solar pumps in Asia pacific are Australia, China and Indonesia. Other Asia Pacific regions that will have surging demand are India, Thailand, Malaysia, and Japan. It is a suitable region for the installation of new solar pumps. The abundance of raw materials and fewer labour costs are the reasons for the high production rate in the regions.

 Also, industrial operations and governmental aid are enabling high investments for solar pumps. The R& D programs for solar water pumps are continuously rising in the Asia pacific. The surging population is another factor that offers growth opportunities for solar pumps. Europe, North America and other regions are witnessing high demand due to renewable energy. Further, the European market is witnessing massive growth due to the high demand for solar pumps in the agricultural sector.

Recent Developments 

  • The key players in the Asia Pacific region have agreed to massive solar pumps tender. This project includes designing, manufacturing and installing more than 7500 solar pumps in India. 

  • The key players in Latin America are signing new projects. There is a 4.5 million project in this region. This project will enable the installation of solar pumps. Also, it is a major project that will lead to high demand and market expansion. 

  • The key players of the market are having a global partnership with other solar pumps companies. It allows them to expand the solar pumps market in less developed regions. 

Report Overview 

  • Market overview highlights 

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis

  • Market segmentation overview

  • The regional analysis

  • Competitive landscape analysis

  • Recent Developments

Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2028: USD 2.17 billion
  • 2030: Significant Value
  •   CAGR   9.50% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Solar water pumps, Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Lorentz (Germany), C. R. I. Pumps Private Limited (India), Tata Power Solar Systems Ltd (India), Shakti Pumps (India) Ltd (India), Wenling Jintai Pump Factory Limited (China), Bright Solar Limited (India), Grundfos (Denmark), Symtech Solar (Oman), (Australia), Urja Global Limited (India), and Kavita Solar Energy Private Limited (India)
      Key Market Opportunities

  • Increasing urbanization
  • Agricultural activities
  •   Key Market Drivers

  • Increasing infrastructural investment in developing countries
  • Increasing renewable energy generation
  • Affordable source of electricity

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    Frequently Asked Questions (FAQ) :

    The growth rate of the solar water pumps market is estimated at 9.50%.

    The submersible solar water pumps segment is the most profitable in this market.

    1. Kavita Solar Energy Private Limited 2. Lorentz 3. Urja Global Limited 4. C. R. I. Pumps Private Limited 5. Symtech Solar 6. Shakti Pumps 7. Bright Solar Limited 8. 9. Symtech Solar 10. Tata Power Solar Systems Ltd