Global Solar Water Pumps Market - Overview

A Solar Water Pump is a device, which runs on the electricity generated by photovoltaic panels. Solar water pumps are not connected with the grid and result in very less emission compared to conventional pumps. Solar water pumps are increasingly used in regions where grid electricity is unavailable and alternative sources such as wind do not provide enough power for operations. Solar pump components consists of solar panels, a controller and a pump while the size of the PV system determines the operating capacity of the pump.

Acknowledging the potential, the market is demonstrating currently; Market Research Future (MRFR), in its recently published study report asserts that the Global Solar Water Pumps Market will reach exponential heights by 2023, registering a 5.6% CAGR during the anticipated period.

Stringent government regulations to reduce carbon footprints into the atmosphere is the factor driving the growth of the solar pumps market. Solar energy used for water pumps does not emit any carbon footprints into the atmosphere and provides a clean source of energy. Additionally supportive government incentive schemes to farmers and solar pump manufacturers is also fuelling the growth of the market. However, high initial investment is the factor may restrict the growth of the market.

Global Solar Water Pumps Market – Competitive Analysis

The Solar Water Pumps Market is highly competitive yet consolidated. Mergers & acquisitions, Innovation, brand reinforcement, and partnership remain the key trends for leading players. They strive to develop pumps that can reduce the downtime and maintenance with longer life lowering the total costs. Due to the expected extensions in product, service, and product innovations, the market is soon expected to witness a fierce competition.

Key Players:

Some of the Eminent Players leading the market include

SunEdison, Inc. (US)
Lorentz (Germany)
CRI Pumps Pvt. Ltd (India)
Tata Power Solar Systems Ltd. (India)
Solar Power & Pump Co LLC (US)
Shakti Solar Pumping System (India)
Bright Solar Pvt. Ltd. (India)
Wenling Jintai Pump Factory (China)
American West Windmill and Solar Company (US)
Grundfos (Denmark)

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Global Solar Water Pumps Market – Segments

The MRFR analysis is segmented into three key dynamics for the convenience of understanding;

By Products

DC Surface Suction
AC Submersible
DC Submersible
AC Floating

By Applications

Agriculture
Drinking Water

By Region

North America
Europe
APAC
Rest-of-the-World

Industry News:-

In August, 2016 – The Indian state of Haryana is set to offer 90% subsidy to promote solar water pumps of 2 horsepower, 5 HP and 10 HP in the current financial year. Under the initiative, farmers will need to bear just 10% cost while the rest will be shared between the central and state governments as financial assistance for setting up 3,050 such pump sets.

In March, 2018 – India and France have committed more than US$2 billion to fund solar-energy projects in developing countries. The money will be potentially spent on developing solar technologies such as solar water pumps to help people in the developing nations to have access to clean water and for irrigation purposes.

In September, 2018 – Patanjali Ayurved (India), one of the largest business empires, announced various plans to launch new solar street lights, solar hybrid inverter and solar water pumps. These plans were revealed during the launch of 60-megawatt solar panel plant, being established to achieve self-sufficiency for the brand’s energy demands.

Browse The Full Research Report At@ https://www.marketresearchfuture.com/reports/solar-water-pumps-market-3980