About Solar Water Pumps
Solar-powered pumps run on electricity generated by electrical phenomenon (PV) panels, or the radiated thermal energy offered from collected daylight as opposition grid electricity- or diesel-run water pumps. Solar-powered pumps comprises an electrical device array, star charge controller, DC pump, fuse box/breakers, electrical wiring, and a water tank. The operation of solar-powered pumps is additional economical principally thanks to the lower operation and maintenance prices and has less environmental impact than pumps high-powered by an interior combustion engine.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market for the solar water pump is fragmented by global key players owing to the rising demand for renewable energy sources and rising demand for cutting-edge equipment by the farmers for efficient yield and farm management. The players should focus on remote access and efficient pumps with elongated tool life for sustaining the highly competitive market. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Power Company Limited (India), Tata Power (India), KSB Limited (Germany), BERNT LORENTZ GmbH (Germany), Merck & Co., Inc. (United States), Amrut Energy Private Limited (India), Sunlight Infra Energy Private Limited (India) and Shakti Pumps (India) Ltd. (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Bright Solar Ltd. (India), B.S.L.C.Commodities (United States) and Advanced Power Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Solar Water Pumps market by Type (DC Surface Suction, AC Submersible, DC Submersible and AC Surface Pumps), Application (Agriculture, Drinking-Water Supply and Others) and Region.
On the basis of geography, the market of Solar Water Pumps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Solar Water Pumps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Casing, the sub-segment i.e. Carbon Fibre will boost the Solar Water Pumps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Government Subsidies to Farmers and Solar Pump Manufacturers and Integration of Remote Control of the Pumps
Market Growth Drivers:
Rising Agriculture Sector in Developed Economies and Increasing Usage of Solar Water Pumps in Countries with Less Energy Sources
Challenges:
Less Awareness about Solar Water Pump and Preference of Conventional Electric Pumps
Restraints:
High Cost Involved in Employing Solar Energy
Opportunities:
Rising Awareness about Renewable Energy Source and Increasing Investment of Private Sector in Solar Energy
Market Leaders and their expansionary development strategies
In March 2023, Franklin Electric acquires Lorentz. This acquisition strengthens Franklin Electric's position in the European market and adds innovative solar technologies to their portfolio.
In December 2023, WEG, launched of its new ADV200-SP drive for solar pumping applications. This cutting-edge variable frequency drive is designed specifically for isolated or hybrid solar-powered water pumping systems, bringing a new level of efficiency and sustainability to the agricultural and industrial sectors
Key Target Audience
Solar Water Pumps Manufacturers, Distributor/Suppliers, Component Manufacturer, Research Institutes, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.