Solar Pump Market Overview
Solar Pump Market size is estimated to grow at a CAGR of 9.50% to reach USD 2,873.9 Million during the forecast period 2022-2030.
The solar pump systems have their main contribution in irrigation and supply of portable water. These pumps are embraced by the activities conducted by oil and sector for chemical injection. The green house gases are not emitted by the solar water pumps. In India, for solar pumps the irrigation was a main activity for more than half population and application area which makes India to reflect many opportunities for becoming the land of large opportunities of the market. The government of India set the target of expanding the country’s renewable energy generating capacity.
The submersible solar water pumps are located in deep below the level of the ground. Its suction head was 10 meters deep adding to its depth. It can easily lift the water from the deep groundwater resources. Agriculture was a volatile and weather dependent activity in which the government subsidies to the farmers and the manufacturers of solar pump are increased especially in the emerging economies.
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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) |
The Jawaharlal Nehru National (JNN) Solar Mission was launched in 2010. The solar pumps pump the water through the energy which was produced by the sunlight. The industrial operations and governmental aid enable the high investments for the solar pumps. The RD programs in Asia Pacific are rising continuously for the solar pumps. The surging population also offers the growth opportunities for the solar pump. Because of the high demand for solar pumps in the agricultural sector, the European market has witnessed massive growth.
The solar pumps are essential in undeveloped and rural areas which has no electric grid infrastructure. Through photovoltaic modules, the DC electric power can be used easily. Some of the crucial types of solar water pumps are transfer pumps, circular pumps and irrigation pumps.
Market Segmentation
The global Solar Pump Market was segmented on the basis of type, application, power rating, drive type, and end user.
- On the basis of type, the global Solar Pump Market was divided into Surface Pumps and Submersible Pumps.
- On the basis of application, the global Solar Pump Market was divided into Drinking Water, Agriculture and Others.
- On the basis of power rating, the global Solar Pump Market was divided into Below 3HP, 3HP to 10HP and Above 10HP.
- On the basis of drive type, the global Solar Pump Market was divided into AC motor powered solar water pumps and DC motor powered solar water pumps.
- On the basis of end user, the global Solar Pump Market was divided into Agriculture, Industrial, Commercial and Residential.
Regional Classification
The global Solar Pump Market was spread in the following region – Europe, Asia Pacific, Middle East, North America and Latin America.
Industry News
The key players involved in the global Solar Pump Market are – Shakti Pumps, Kavita Solar Energy Private Limited, Bright Solar Limited, Lorentz, Tata Power, Urja Global Limited, C.R.I. Pumps Private Limited, and Symtech Solar.
