PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1182330
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1182330
Solar Water Pumps Market Forecasts to 2028 - Global Analysis By Type (Floating Pump, Surface Pumps, Submersible Pumps and Other Types), Motor Type (DC Pumps, AC Pumps and Other Motor Types), Power Rating, Application and By Geography
According to Stratistics MRC, the Global Solar Water Pumps Market is accounted for $3.2 billion in 2022 and is expected to reach $6.4 billion by 2028 growing at a CAGR of 12.2% during the forecast period. Solar water pumps are water pumps that run on electricity generated either by thermal energy or by utilising the collected sunlight via photovoltaic panels. The 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.
According to The Ministry of New and Renewable Energy (MNRE), India, outlined the Solar Pumping Program for irrigation and drinking water, which sought to promote the adoption of solar pumps over the next five years.
Market Dynamics:
Driver:
The enlargement of urbanisation
The expansion of urbanisation will lead to water and water treatment measures. The growing population in urban areas requires energy-efficient water pumps for a constant water supply. The agricultural sector has a high demand for irrigation equipment. These pumps are an exceptional technology in rural and agricultural lands. Also, it is a pump that can work without electric grid infrastructure. Therefore, these factors are driving the growth of the market.
Restraint:
The lack of awareness
The lack of awareness about solar pumps in rural areas is likely to hinder the growth. A lot of farmers and agricultural land owners are still unaware about solar technology and its ability to generate electricity. In addition, the ease of availability of electrical pumps, along with their lower maintenance costs, discourages farmers from shifting toward solar pumps. Therefore, such factors are likely to restrain the market growth.
Opportunity:
Mounting Environmental Consciousness
The rising use of solar water pumps in areas without grid electricity is propelling the market. The policies to encourage the use of solar pumps, combined with stringent government regulations on carbon emissions, are boosting the growth of the market. Numerous advantages provided by solar water pumps, like higher efficiency, cost-effectiveness, ease of maintenance, long operating life, environmental friendliness, and less reliance on fuels, are accelerating market growth.
Threat:
High Cost of Installation
Solar water pump installation is a challenging process. Rural areas tend to have more solar water pumps than urban ones. The infrastructure of the electrical grid is inadequate in rural areas. Both the amount of area and solar energy needed are significant. Because of this, installing solar water pumps is expensive. Therefore, this factor is expected to impede the market growth.
COVID-19 Impact
Due to COVID-19, the demand and supply chain of the market is severely affected. The price reduction is another effect on this market. The slowdown of mining, groundwater extraction and treatment is adversely affecting the demand for market. Also, the raw materials price is increasing that disturbs the manufacturing process of solar water pumps. Eventually, all these factors are declining the demand and growth rate of solar pumps.
The submersible pump segment is expected to be the largest during the forecast period
The submersible pump segment is estimated to have a lucrative growth, due to increasing deepwater exploration activities and rising subsea operations. These pumps are completely submerged in the water source, mainly in wells and bore wells. These pumps can be installed horizontally inside water reservoirs at a minimum depth. They are well suited for pushing water over long distances. These factors are influencing the segment growth.
The agriculture segment is expected to have the highest CAGR during the forecast period
The agriculture segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increase in agricultural operations and the requirement for irrigation water.
The government of India is providing farmers with subsidies to promote the deployment of these pumps. Moreover, several NGOs are taking initiatives to install these pump systems across different parts of India which will boost the growth of the overall market.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising agricultural activities in the region, combined with the lack of access to grid electricity in agricultural lands. The strong presence of market players and their initiatives to provide pumping systems for agricultural irrigation to help increase the production and income of farmers through inexhaustible solar energy for sufficient water supply is providing impetus to the solar water pumps market growth.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to increase in focus on clean energy sources, countries adopt renewable energy powered technologies. Increasing agricultural activities in these regions coupled with livestock water supply, farmers shifting preference towards renewable energy, government stringent regulation for CO2 emission has made a positive impact on the market growth.
Key players in the market
Some of the key players profiled in the Solar Water Pumps Market include LORENTZ, Dankoff Solar, Bright Solar Limited, Tata Power Solar, Ecozen Solutions, Crompton, Aqua Group, Franklin Electric, Novergy Energy Solutions Pvt. Ltd., Alpex Solar Pumps, Surya International, Shakti Pumps, Waaree Energies Ltd, SunEdison Infrastructure, Duke Plasto Technique Private Limited, C.R.I. Pumps Private Limited, Grundfos, Jackson Group, K.S.B.Limited and EcoSoach.
Key Developments:
In September 2021, Grundfos introduced the SQFlex Large, extending its long-standing SQFlex solar-powered submersible pump range. The company expanded the product offering across Asia Pacific with the rise in demand for solar energy pumps as well as withstanding the diverse weather conditions spanning the region.
In June 2020, SunEdison entered into a framework agreement to restructure and transfer its solar business. Under the proposed restructuring plan, the completed projects and under completed projects will be separated, focusing mainly on residential and small commercial rooftop solar segments.
In August 2020, Tata Power stated that three of its wholly-owned subsidiaries, Coastal Gujarat Power Ltd (CGPL), Tata Power Solar Systems (TPSSL), and Af-Taab Investment Business (Af-Taab), will be amalgamated with the parent company for improved finance, compliance, and supervision efficiencies.
Types Covered:
- Floating Pump
- Surface Pumps
- Submersible Pumps
- Other Types
Motor Types Covered:
- DC Pumps
- AC Pumps
- Other Motor Types
Power Ratings Covered:
More than 20 HP
10 HP to 20 HP
5 HP to 10 HP
Upto 5 HP
Other Power Ratings
Applications Covered:
- Agriculture
- Drinking Water
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Solar Water Pumps Market, By Type
- 5.1 Introduction
- 5.2 Floating Pump
- 5.3 Surface Pumps
- 5.4 Submersible Pumps
- 5.5 Other Types
6 Global Solar Water Pumps Market, By Motor Type
- 6.1 Introduction
- 6.2 DC Pumps
- 6.3 AC Pumps
- 6.4 Other Motor Types
7 Global Solar Water Pumps Market, By Power Rating
- 7.1 Introduction
- 7.2 More than 20 HP
- 7.3 10 HP to 20 HP
- 7.4 5 HP to 10 HP
- 7.5 Upto 5 HP
- 7.6 Other Power Ratings
8 Global Solar Water Pumps Market, By Application
- 8.1 Introduction
- 8.2 Agriculture
- 8.3 Drinking Water
- 8.4 Other Applications
9 Global Solar Water Pumps Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 LORENTZ
- 11.2 Dankoff Solar
- 11.3 Bright Solar Limited
- 11.4 Tata Power Solar
- 11.5 Ecozen Solutions
- 11.6 Crompton
- 11.7 Aqua Group
- 11.8 Franklin Electric
- 11.9 Novergy Energy Solutions Pvt. Ltd.
- 11.10 Alpex Solar Pumps
- 11.11 Surya International
- 11.12 Shakti Pumps
- 11.13 Waaree Energies Ltd
- 11.14 SunEdison Infrastructure
- 11.15 Duke Plasto Technique Private Limited
- 11.16 C.R.I. Pumps Private Limited
- 11.17 Grundfos
- 11.18 Jackson Group
- 11.19 K.S.B.Limited
- 11.20 EcoSoach
List of Tables
- Table 1 Global Solar Water Pumps Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Solar Water Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Solar Water Pumps Market Outlook, By Floating Pump (2020-2028) ($MN)
- Table 4 Global Solar Water Pumps Market Outlook, By Surface Pumps (2020-2028) ($MN)
- Table 5 Global Solar Water Pumps Market Outlook, By Submersible Pumps (2020-2028) ($MN)
- Table 6 Global Solar Water Pumps Market Outlook, By Other Types (2020-2028) ($MN)
- Table 7 Global Solar Water Pumps Market Outlook, By Motor Type (2020-2028) ($MN)
- Table 8 Global Solar Water Pumps Market Outlook, By DC Pumps (2020-2028) ($MN)
- Table 9 Global Solar Water Pumps Market Outlook, By AC Pumps (2020-2028) ($MN)
- Table 10 Global Solar Water Pumps Market Outlook, By Other Motor Types (2020-2028) ($MN)
- Table 11 Global Solar Water Pumps Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 12 Global Solar Water Pumps Market Outlook, By More than 20 HP (2020-2028) ($MN)
- Table 13 Global Solar Water Pumps Market Outlook, By 10 HP to 20 HP (2020-2028) ($MN)
- Table 14 Global Solar Water Pumps Market Outlook, By 5 HP to 10 HP (2020-2028) ($MN)
- Table 15 Global Solar Water Pumps Market Outlook, By Upto 5 HP (2020-2028) ($MN)
- Table 16 Global Solar Water Pumps Market Outlook, By Other Power Ratings (2020-2028) ($MN)
- Table 17 Global Solar Water Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 18 Global Solar Water Pumps Market Outlook, By Agriculture (2020-2028) ($MN)
- Table 19 Global Solar Water Pumps Market Outlook, By Drinking Water (2020-2028) ($MN)
- Table 20 Global Solar Water Pumps Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 21 North America Solar Water Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 22 North America Solar Water Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 23 North America Solar Water Pumps Market Outlook, By Floating Pump (2020-2028) ($MN)
- Table 24 North America Solar Water Pumps Market Outlook, By Surface Pumps (2020-2028) ($MN)
- Table 25 North America Solar Water Pumps Market Outlook, By Submersible Pumps (2020-2028) ($MN)
- Table 26 North America Solar Water Pumps Market Outlook, By Other Types (2020-2028) ($MN)
- Table 27 North America Solar Water Pumps Market Outlook, By Motor Type (2020-2028) ($MN)
- Table 28 North America Solar Water Pumps Market Outlook, By DC Pumps (2020-2028) ($MN)
- Table 29 North America Solar Water Pumps Market Outlook, By AC Pumps (2020-2028) ($MN)
- Table 30 North America Solar Water Pumps Market Outlook, By Other Motor Types (2020-2028) ($MN)
- Table 31 North America Solar Water Pumps Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 32 North America Solar Water Pumps Market Outlook, By More than 20 HP (2020-2028) ($MN)
- Table 33 North America Solar Water Pumps Market Outlook, By 10 HP to 20 HP (2020-2028) ($MN)
- Table 34 North America Solar Water Pumps Market Outlook, By 5 HP to 10 HP (2020-2028) ($MN)
- Table 35 North America Solar Water Pumps Market Outlook, By Upto 5 HP (2020-2028) ($MN)
- Table 36 North America Solar Water Pumps Market Outlook, By Other Power Ratings (2020-2028) ($MN)
- Table 37 North America Solar Water Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 38 North America Solar Water Pumps Market Outlook, By Agriculture (2020-2028) ($MN)
- Table 39 North America Solar Water Pumps Market Outlook, By Drinking Water (2020-2028) ($MN)
- Table 40 North America Solar Water Pumps Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 41 Europe Solar Water Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 42 Europe Solar Water Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 43 Europe Solar Water Pumps Market Outlook, By Floating Pump (2020-2028) ($MN)
- Table 44 Europe Solar Water Pumps Market Outlook, By Surface Pumps (2020-2028) ($MN)
- Table 45 Europe Solar Water Pumps Market Outlook, By Submersible Pumps (2020-2028) ($MN)
- Table 46 Europe Solar Water Pumps Market Outlook, By Other Types (2020-2028) ($MN)
- Table 47 Europe Solar Water Pumps Market Outlook, By Motor Type (2020-2028) ($MN)
- Table 48 Europe Solar Water Pumps Market Outlook, By DC Pumps (2020-2028) ($MN)
- Table 49 Europe Solar Water Pumps Market Outlook, By AC Pumps (2020-2028) ($MN)
- Table 50 Europe Solar Water Pumps Market Outlook, By Other Motor Types (2020-2028) ($MN)
- Table 51 Europe Solar Water Pumps Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 52 Europe Solar Water Pumps Market Outlook, By More than 20 HP (2020-2028) ($MN)
- Table 53 Europe Solar Water Pumps Market Outlook, By 10 HP to 20 HP (2020-2028) ($MN)
- Table 54 Europe Solar Water Pumps Market Outlook, By 5 HP to 10 HP (2020-2028) ($MN)
- Table 55 Europe Solar Water Pumps Market Outlook, By Upto 5 HP (2020-2028) ($MN)
- Table 56 Europe Solar Water Pumps Market Outlook, By Other Power Ratings (2020-2028) ($MN)
- Table 57 Europe Solar Water Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 58 Europe Solar Water Pumps Market Outlook, By Agriculture (2020-2028) ($MN)
- Table 59 Europe Solar Water Pumps Market Outlook, By Drinking Water (2020-2028) ($MN)
- Table 60 Europe Solar Water Pumps Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 61 Asia Pacific Solar Water Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 62 Asia Pacific Solar Water Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 63 Asia Pacific Solar Water Pumps Market Outlook, By Floating Pump (2020-2028) ($MN)
- Table 64 Asia Pacific Solar Water Pumps Market Outlook, By Surface Pumps (2020-2028) ($MN)
- Table 65 Asia Pacific Solar Water Pumps Market Outlook, By Submersible Pumps (2020-2028) ($MN)
- Table 66 Asia Pacific Solar Water Pumps Market Outlook, By Other Types (2020-2028) ($MN)
- Table 67 Asia Pacific Solar Water Pumps Market Outlook, By Motor Type (2020-2028) ($MN)
- Table 68 Asia Pacific Solar Water Pumps Market Outlook, By DC Pumps (2020-2028) ($MN)
- Table 69 Asia Pacific Solar Water Pumps Market Outlook, By AC Pumps (2020-2028) ($MN)
- Table 70 Asia Pacific Solar Water Pumps Market Outlook, By Other Motor Types (2020-2028) ($MN)
- Table 71 Asia Pacific Solar Water Pumps Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 72 Asia Pacific Solar Water Pumps Market Outlook, By More than 20 HP (2020-2028) ($MN)
- Table 73 Asia Pacific Solar Water Pumps Market Outlook, By 10 HP to 20 HP (2020-2028) ($MN)
- Table 74 Asia Pacific Solar Water Pumps Market Outlook, By 5 HP to 10 HP (2020-2028) ($MN)
- Table 75 Asia Pacific Solar Water Pumps Market Outlook, By Upto 5 HP (2020-2028) ($MN)
- Table 76 Asia Pacific Solar Water Pumps Market Outlook, By Other Power Ratings (2020-2028) ($MN)
- Table 77 Asia Pacific Solar Water Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 78 Asia Pacific Solar Water Pumps Market Outlook, By Agriculture (2020-2028) ($MN)
- Table 79 Asia Pacific Solar Water Pumps Market Outlook, By Drinking Water (2020-2028) ($MN)
- Table 80 Asia Pacific Solar Water Pumps Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 81 South America Solar Water Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 82 South America Solar Water Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 83 South America Solar Water Pumps Market Outlook, By Floating Pump (2020-2028) ($MN)
- Table 84 South America Solar Water Pumps Market Outlook, By Surface Pumps (2020-2028) ($MN)
- Table 85 South America Solar Water Pumps Market Outlook, By Submersible Pumps (2020-2028) ($MN)
- Table 86 South America Solar Water Pumps Market Outlook, By Other Types (2020-2028) ($MN)
- Table 87 South America Solar Water Pumps Market Outlook, By Motor Type (2020-2028) ($MN)
- Table 88 South America Solar Water Pumps Market Outlook, By DC Pumps (2020-2028) ($MN)
- Table 89 South America Solar Water Pumps Market Outlook, By AC Pumps (2020-2028) ($MN)
- Table 90 South America Solar Water Pumps Market Outlook, By Other Motor Types (2020-2028) ($MN)
- Table 91 South America Solar Water Pumps Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 92 South America Solar Water Pumps Market Outlook, By More than 20 HP (2020-2028) ($MN)
- Table 93 South America Solar Water Pumps Market Outlook, By 10 HP to 20 HP (2020-2028) ($MN)
- Table 94 South America Solar Water Pumps Market Outlook, By 5 HP to 10 HP (2020-2028) ($MN)
- Table 95 South America Solar Water Pumps Market Outlook, By Upto 5 HP (2020-2028) ($MN)
- Table 96 South America Solar Water Pumps Market Outlook, By Other Power Ratings (2020-2028) ($MN)
- Table 97 South America Solar Water Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 98 South America Solar Water Pumps Market Outlook, By Agriculture (2020-2028) ($MN)
- Table 99 South America Solar Water Pumps Market Outlook, By Drinking Water (2020-2028) ($MN)
- Table 100 South America Solar Water Pumps Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 101 Middle East & Africa Solar Water Pumps Market Outlook, By Country (2020-2028) ($MN)
- Table 102 Middle East & Africa Solar Water Pumps Market Outlook, By Type (2020-2028) ($MN)
- Table 103 Middle East & Africa Solar Water Pumps Market Outlook, By Floating Pump (2020-2028) ($MN)
- Table 104 Middle East & Africa Solar Water Pumps Market Outlook, By Surface Pumps (2020-2028) ($MN)
- Table 105 Middle East & Africa Solar Water Pumps Market Outlook, By Submersible Pumps (2020-2028) ($MN)
- Table 106 Middle East & Africa Solar Water Pumps Market Outlook, By Other Types (2020-2028) ($MN)
- Table 107 Middle East & Africa Solar Water Pumps Market Outlook, By Motor Type (2020-2028) ($MN)
- Table 108 Middle East & Africa Solar Water Pumps Market Outlook, By DC Pumps (2020-2028) ($MN)
- Table 109 Middle East & Africa Solar Water Pumps Market Outlook, By AC Pumps (2020-2028) ($MN)
- Table 110 Middle East & Africa Solar Water Pumps Market Outlook, By Other Motor Types (2020-2028) ($MN)
- Table 111 Middle East & Africa Solar Water Pumps Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 112 Middle East & Africa Solar Water Pumps Market Outlook, By More than 20 HP (2020-2028) ($MN)
- Table 113 Middle East & Africa Solar Water Pumps Market Outlook, By 10 HP to 20 HP (2020-2028) ($MN)
- Table 114 Middle East & Africa Solar Water Pumps Market Outlook, By 5 HP to 10 HP (2020-2028) ($MN)
- Table 115 Middle East & Africa Solar Water Pumps Market Outlook, By Upto 5 HP (2020-2028) ($MN)
- Table 116 Middle East & Africa Solar Water Pumps Market Outlook, By Other Power Ratings (2020-2028) ($MN)
- Table 117 Middle East & Africa Solar Water Pumps Market Outlook, By Application (2020-2028) ($MN)
- Table 118 Middle East & Africa Solar Water Pumps Market Outlook, By Agriculture (2020-2028) ($MN)
- Table 119 Middle East & Africa Solar Water Pumps Market Outlook, By Drinking Water (2020-2028) ($MN)
- Table 120 Middle East & Africa Solar Water Pumps Market Outlook, By Other Applications (2020-2028) ($MN)
