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Global Solar Water Pumps Market: By Type: Surface Pump, Submersible Pump, Floating Pump; By Current: AC Pumps, DC Pumps; By Application: Agriculture, Drinking Water, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Solar Water Pumps Market Outlook
The global solar water pumps market is supported by the growth of the solar pumps market, which attained a value of USD 1.19 billion in 2020. The solar pumps market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 10.5%.
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The Asia Pacific to be one of the Leading Regional Markets for Solar Water Pumps
The Asia Pacific is one of the leading regional markets for solar water pumps. India, China, Bangladesh, Japan, and Indonesia are the significant markets within the region. The market in the Asia Pacific is expected to be driven by 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 solar 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. Meanwhile, the Middle East and Africa is also expected to be a significant market due to the high penetration of sunlight and investments by the governments in the region, encouraging the use of solar water pumps for irrigation.
Market Segmentation
Solar water pumps are water pumps that run on electricity generated either by thermal energy or by utilising the collected sunlight via photovoltaic panels rather than being run on diesel or grid electricity. The photovoltaic cells convert the solar power into electricity, which is then used for operating the motor pump. They are environmentally friendly and are cost-effective as they are not dependent on fuel sources.
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Based on types, the market can be divided into:
- Surface Pump
- Submersible Pump
- Screw Pump
- Centrifugal Pump
- Floating Pump
By current, the market can be bifurcated into:
- AC Pumps
- DC Pumps
The market can be broadly categorised based on its applications into:
- Agriculture
- Drinking Water
- Others
The EMR report looks into the regional markets of solar water pumps like North America, Europe, Latin America, the Asia Pacific, and the Middle East and Africa.
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Rising Environmental Consciousness and the Need to Reduce the Reliance on Fuel Sources to Drive the Market Growth of Solar Water Pumps
The rising adoption of solar water pumps in areas lacking access to grid electricity is driving the solar water pumps market forward. For instance, farmers in India are increasingly adopting solar pumps for irrigation due to unscheduled power cuts, with support from the government in the form of subsidies. Such measures to support the adoption of solar pumps, combined with stringent government regulations against carbon emissions are contributing to the market expansion. Numerous benefits offered by solar water pumps, like higher efficiency, cost-effectiveness, easy maintenance, long operating life, environmental-friendly, and less dependency on fuels, are accelerating the market development. The expanding agricultural activities to meet the increasing food demand and the need for a clean and fresh source of water are leading to the use of solar water pumps for irrigation purposes. Over the forecast period, the reduction in the prices of photovoltaic modules and the innovations in controller technology are expected to further propel the market for solar water pumps forward.
Key Players in the Global Market for Solar Water Pumps
The report gives a detailed analysis of the following key players in the global solar water pumps market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Lorentz
- Tata Power Solar Systems Ltd.
- Bright Solar Limited
- Rainbow Power Co., Ltd.
- Grundfos
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Current, Application, Region |
| Breakup by Type | Surface Pump, Submersible Pump, Floating Pump |
| Breakup by Current | AC Pumps, DC Pumps |
| Breakup by Application | Agriculture, Drinking Water, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Lorentz, Tata Power Solar Systems Ltd., Bright Solar Limited, Rainbow Power Co., Ltd., Grundfos, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Solar Water Pumps Market Analysis
8.1 Key Industry Highlights
8.2 Global Solar Water Pumps Historical Market (2018-2022)
8.3 Global Solar Water Pumps Market Forecast (2023-2028)
8.4 Global Solar Water Pumps Market by Type
8.4.1 Surface Pump
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Submersible Pump
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Type
8.4.2.4.1 Screw Pump
8.4.2.4.2 Centrifugal Pump
8.4.3 Floating Pump
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Solar Water Pumps Market by Current
8.5.1 AC Pumps
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 DC Pumps
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Solar Water Pumps Market by Application
8.6.1 Agriculture
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Drinking Water
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Others
8.7 Global Solar Water Pumps Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Solar Water Pumps Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Solar Water Pumps Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Solar Water Pumps Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Solar Water Pumps Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Solar Water Pumps Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Lorentz
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Tata Power Solar Systems Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Bright Solar Limited
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Rainbow Power Company Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Grundfos Holding A/S
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Solar Water Pumps Market: Key Industry Highlights, 2018 and 2028
2. Global Solar Water Pumps Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Solar Water Pumps Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Solar Water Pumps Historical Market: Breakup by Current (USD Million), 2018-2022
5. Global Solar Water Pumps Market Forecast: Breakup by Current (USD Million), 2023-2028
6. Global Solar Water Pumps Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Solar Water Pumps Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Solar Water Pumps Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Solar Water Pumps Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Solar Water Pumps Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Solar Water Pumps Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Solar Water Pumps Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Solar Water Pumps Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Solar Water Pumps Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Solar Water Pumps Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Solar Water Pumps Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Solar Water Pumps Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Solar Water Pumps Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Solar Water Pumps Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Solar Water Pumps Market Structure
Key Questions Answered in the Report
In 2020, the global solar water pumps market attained a value of nearly USD 1.19 billion.
The market is projected to grow at a CAGR of 10.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 2.17 billion by 2026.
The major drivers of the industry include favourable government incentives for the implementation of solar water pumps combined with stringent government regulations against carbon emissions.
The rising adoption of solar water pumps in areas lacking access to grid electricity is expected to be a key trend guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Asia Pacific accounting for the largest share in the market.
The types of solar water pumps available are surface pump, submersible pump, and floating pump. Submersible pumps are further divided into screw pump and centrifugal pump.
Solar water pump finds applications as agriculture and drinking water, amongst others.
Solar water pumps can have different end-uses like AC pumps and DC pumps.
The regional markets for thermocouples include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The leading players in this market are Lorentz, Tata Power Solar Systems Ltd., Bright Solar Limited, Rainbow Power Co., Ltd., and Grundfos, amongst others.
Analyst Review
The global solar water pumps market attained a value of USD 1.19 billion in 2020, driven by favourable government incentives for the implementation of solar water pumps combined with stringent government regulations against carbon emissions. Aided by rising adoption of solar water pumps in areas lacking access to grid electricity, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 10.5%. The market is projected to reach USD 2.17 billion by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on the type, the solar water pumps market can be segmented into surface pump, submersible pump, and floating pump. Submersible pumps are further divided into screw pump and centrifugal pump. By application, the industry can be divided into agriculture and drinking water, amongst others. Solar water pumps can have different end-uses like AC pumps and DC pumps. The regional markets for solar water pumps include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Lorentz, Tata Power Solar Systems Ltd., Bright Solar Limited, Rainbow Power Co., Ltd., and Grundfos, amongst others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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