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According to MRFR analysis, the global Solar Water Pumps marketis expected to register
a CAGR of ~9.50% from 2023 to 2030 and hold a value
of over USD 2.83 Billion by 2030.
Solar water pumps are
pumps powered by photovoltaic (PV) panels that convert sunlight into electrical
energy.
These
pumps are typically used for irrigation, drinking water, and livestock watering
in rural areas where there is limited access to electricity. Solar water pumps
have several advantages over traditional fossil fuel-powered pumps, including
lower operating costs, zero emissions, and reduced dependence on grid
electricity.
The
pandemic has caused delays in the construction and deployment of new projects,
as well as disruptions to supply chains. On the other hand, the economic
downturn caused by the pandemic has resulted in lower prices for PV panels,
making solar water pumps more affordable for customers.
Additionally,
the need for decentralized and sustainable solutions in rural areas has become
even more important during the pandemic, driving demand for solar water pumps
in some regions.
Key Players
·
Lorentz (Germany)
·
Pumps Private Limited
(India)
·
Tata Power Solar Systems
Ltd (India)
·
Shakti Pumps (India) Ltd
(India)
·
Wenling Jintai Pump
Factory Limited (China)
·
Bright Solar Limited
(India)
·
Grundfos (Denmark)
·
Symtech Solar (Oman)
·
com (Australia)
·
Urja Limited (India)
·
Kavita Solar Energy
Private Limited (India)
Regional Analysis
The Asia-Pacific region is the
fastest-growing market for solar water pumps, driven by increasing demand for
clean and sustainable solutions in rural areas, as well as supportive
government policies and growing investment in renewable energy.
Countries such as India, China, and
Bangladesh are leading the way in terms of the deployment of solar water pumps,
and the region is expected to continue to play a major role in the growth of
this market in the coming years. The Asia-Pacific region is also home to some
of the world's largest populations of small-scale farmers and rural
communities, which are major target markets for solar water pumps.
Market Segmentation
The
Global Photovoltaic
water pumping systems market Size has been segmented into the water pump and
application.
Based
on the water pumps, the market has been segmented into Submersible Pumps and
Surface Pumps.
Based
on the application, the market has been segmented into Agriculture, Drinking
Water, and Others.
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