Solar Water Pump Market Size, Share | Industry Report [2031]
Solar Water Pump Market Size, Share | Industry Report [2031]
Segments - Solar Water Pump Market by Type (Submersible Pump, Surface Suction Pump, and Floating Pump), Current Type (DC Pumps and AC Pumps), Power Rating (Up to 5 HP, 5 to 10 HP, 10 to 20 HP, and More than 20 HP), Application (Drinking Water, Industrial, Agriculture, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Upcoming
| Report ID :EP-5365
| 4.3 Rating
| 72 Reviews
| 177 Pages
| Format :
Report Description
The global solar water pump market size was USD 3.67 Bn in 2022 and is likely to reach USD 7.27 Bn by 2031, expanding at a CAGR of 10.3% during 2023–2031. The rising usage of solar-powered devices is anticipated to fuel the market.
The solar water pump uses photovoltaic technology, which consumes energy from the sun or sun rays and produced electricity for the pumping system. Solar water pumps are used for irrigation and drinking water. It helps to supply water to irrigate crops in agriculture.
The solar water pump is similar to an electrical pump system. The main difference is that the solar water pump operates on direct current (DC). Whereas, a normal electrical pump operates on alternating current (AC). The electricity is provided to the pump through several photovoltaic panels. Solar water pumps are broadly categorized into centrifugal pumps and positive displacement pumps.
Solar water pump offers several benefits to the environment as compared to traditional technology. It reduces the emission of carbon, as it does not require fuel to run. It requires low maintenance due to the fewer moving parts. It provides a reliable, adequate, and safe water supply.
A solar pumping system is a reliable option for remote areas, as it reduces the dependency on electricity and fuel and has the ability to work during power cuts. It is widely used to withdraw water from the open well, bore well, canals, and ponds.
The research report finds that the COVID-19 pandemic affected the solar water pump market. Preventive measures imposed by the government such as emergency lockdowns and travel restrictions slow down manufacturing activities, which disrupted the overall supply chain of the market.
Solar Water Pump Market Dynamics
Major Drivers
Increasing agriculture activities are expected to boost the demand for solar water pumps in the coming years. Water pumps are majorly used for irrigation and drinking water. Solar water pump enhances crop health by ensuring a consistent supply of water to the crop yield through photovoltaic technology. The profitable factors such as no fuel cost and ease of handling are further likely to propel the market.
Rising government initiatives to support renewable energy, due to growing environmental concerns is likely to drive the market during the projection period. Various governments all over the world provide subsidies for adopting clean and renewable energy-based equipment in agriculture.
- For instance, the Indian Government offers about 75% subsidy to farmers for installing solar water pumps under the PM-KUSUM scheme.
Existing Restraints
The high cost of the solar water pump is likely to limit the market growth. Solar water pump considers high-tech device and it requires semiconductor. However, less availability of semiconductors makes it costly. Smallholder farmers cannot avail of high technology because of poor financial conditions. The lack of awareness and knowledge about equipment that works on solar energy is further likely to restrain the market.
Emerging Opportunities
Rising investment in the agriculture sector is expected to create lucrative opportunities in the market. Farmers are switching from traditional farming methods to modern farming methods and are likely to implant solar water pumps in their farms for reducing electricity consumption.
Scope of the Solar Water Pump Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Solar Water Pump Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2016–2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Type (Submersible Pump, Surface Suction Pump, and Floating Pump), Current Type (DC Pumps and AC Pumps), Power Rating (Up to 5 HP, 5 to 10 HP, 10 to 20 HP, and More than 20 HP), and Application (Drinking Water, Industrial, Agriculture, and Others) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
LORENTZ; SunEdison Inc.; C.R.I. Pumps Private Limited; Shakti Pumps (India) Ltd; Grundfos; Tata Power Solar Systems Ltd; American West Windmill; and Bright Solar Limited |
Solar Water Pump Market Segment Insights
Based on type, the solar water pump market is divided into submersible pump, surface suction pump, and floating pump. The Surface Suction Pump segment is expected to expand at a significant growth rate during the projection period, owing to its cost-effectiveness compared to others. Surface suction pumps pushed water over long distances, which makes it a preferable choice among farmers. The segment growth is further attributed to the increasing farming activities across the globe.
On the basis of the current type, the market is bifurcated into DC Pumps and AC Pumps. The DC pumps segment is expected to register a robust growth rate during the forecast period, due to its longer lifespan and less noise properties. DC pumps require fewer solar panels to operate compared to AC Pumps. DC pumps are used for lower-volume applications.
Based on power rating, the solar water pump market is fragmented into up to 5 HP, 5 to 10 HP, 10 to 20 HP, and more than 20 HP. The up to 5 HP segment is anticipated to grow at a high CAGR during the projection period, as it provides a maximum suction head. This range of power rating pumps is embedded with an auto on/off feature, which increases flexibility. Low cost compared to others is further likely to boost the segment.
On the basis of application, the global market is segregated into drinking water, industrial, agriculture, and others. The agriculture segment is projected to register a considerable CAGR during the forecast period. Farmers use solar water pumps for irrigation and to supply drinking water to animals cattle. It is widely used to improve groundwater management. Solar water pumps reduce dependency on electricity, which further reduces electricity costs. Growing usage of energy-efficient equipment for wastewater treatment in the agriculture field is further likely to propel the segment.
In terms of region, the global solar water pump market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period, due to the increasing manufacturing plants of solar-based equipment and growing industrialization. The regional market growth is further attributed to the growing agricultural activities and the rising government initiatives to support clean and renewable energy.
Segments
The global solar water pump market has been segmented on the basis of
Type
- Submersible Pump
- Surface Suction Pump
- Floating Pump
Current Type
- DC Pumps
- AC Pumps
Power Rating
- Up to 5 HP
- 5 to 10 HP
- 10 to 20 HP
- More than 20 HP
Application
- Drinking Water
- Industrial
- Agriculture
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- LORENTZ
- SunEdison Inc.
- C.R.I. Pumps Private Limited
- Shakti Pumps (India) Ltd
- Grundfos
- Tata Power Solar Systems Ltd
- American West Windmill
- Bright Solar Limited
Competitive Landscape
Key players competing in the global solar water pump market include LORENTZ; SunEdison Inc.; C.R.I. Pumps Private Limited; Shakti Pumps (India) Ltd; Grundfos; Tata Power Solar Systems Ltd; American West Windmill; and Bright Solar Limited.
These companies adopted strategies such as acquisitions, partnerships, collaboration, mergers, R&D investments, and product launches to boost their market share. For instance,
- In April 2022, Shakti Pumps got a maiden patent for unidirectional solar water pumps. The pump is embedded with a Grid-tied Power generation system. The pump ensures efficient performance by using panels to provide extra power to the grid.
- In January 2022, Gautam Solar launched new solar water pump controllers and remote monitoring units for solar PV systems. These solar pump controllers are tuned for 1-10 HP AC/DC and submersible/surface solar pumps.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar Water Pump Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Solar Water Pump Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Solar Water Pump Market - Supply Chain
4.5. Global Solar Water Pump Market Forecast
4.5.1. Solar Water Pump Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Solar Water Pump Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Solar Water Pump Market Absolute $ Opportunity
5. Global Solar Water Pump Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Solar Water Pump Market Size and Volume Forecast by Types
5.3.1. Submersible Pump
5.3.2. Surface Suction Pump
5.3.3. Floating Pump
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Solar Water Pump Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Solar Water Pump Market Size and Volume Forecast by Applications
6.3.1. Drinking Water
6.3.2. Industrial
6.3.3. Agriculture
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Solar Water Pump Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Solar Water Pump Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Solar Water Pump Demand Share Forecast, 2019-2026
8. North America Solar Water Pump Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Solar Water Pump Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Solar Water Pump Market Size and Volume Forecast by Types
8.4.1. Submersible Pump
8.4.2. Surface Suction Pump
8.4.3. Floating Pump
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Solar Water Pump Market Size and Volume Forecast by Applications
8.7.1. Drinking Water
8.7.2. Industrial
8.7.3. Agriculture
8.7.4. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Solar Water Pump Demand Share Forecast, 2019-2026
9. Latin America Solar Water Pump Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Solar Water Pump Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Solar Water Pump Market Size and Volume Forecast by Types
9.4.1. Submersible Pump
9.4.2. Surface Suction Pump
9.4.3. Floating Pump
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Solar Water Pump Market Size and Volume Forecast by Applications
9.7.1. Drinking Water
9.7.2. Industrial
9.7.3. Agriculture
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Solar Water Pump Demand Share Forecast, 2019-2026
10. Europe Solar Water Pump Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Solar Water Pump Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Solar Water Pump Market Size and Volume Forecast by Types
10.4.1. Submersible Pump
10.4.2. Surface Suction Pump
10.4.3. Floating Pump
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Solar Water Pump Market Size and Volume Forecast by Applications
10.7.1. Drinking Water
10.7.2. Industrial
10.7.3. Agriculture
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Solar Water Pump Demand Share Forecast, 2019-2026
11. Asia Pacific Solar Water Pump Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Solar Water Pump Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Solar Water Pump Market Size and Volume Forecast by Types
11.4.1. Submersible Pump
11.4.2. Surface Suction Pump
11.4.3. Floating Pump
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Solar Water Pump Market Size and Volume Forecast by Applications
11.7.1. Drinking Water
11.7.2. Industrial
11.7.3. Agriculture
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Solar Water Pump Demand Share Forecast, 2019-2026
12. Middle East & Africa Solar Water Pump Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Solar Water Pump Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Solar Water Pump Market Size and Volume Forecast by Types
12.4.1. Submersible Pump
12.4.2. Surface Suction Pump
12.4.3. Floating Pump
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Solar Water Pump Market Size and Volume Forecast by Applications
12.7.1. Drinking Water
12.7.2. Industrial
12.7.3. Agriculture
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Solar Water Pump Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Solar Water Pump Market: Market Share Analysis
13.2. Solar Water Pump Distributors and Customers
13.3. Solar Water Pump Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. LORENTZ
13.4.2. SunEdison Inc.
13.4.3. C.R.I. Pumps Private Limited
13.4.4. Shakti Pumps (India) Ltd
13.4.5. Grundfos
13.4.6. Tata Power Solar Systems Ltd
13.4.7. American West Windmill
13.4.8. Bright Solar Limited
Methodology
Related Reports
Some other reports from this category!
Our Clients
