Global Solar Pump Market, By Type (Submersible and Surface), Capacity (Below 4 HP, 4-6 HP, 6-8 HP and Above 8 HP), Application (Farming, Residential, Commercial, National Parks and Industry Water Treatment), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Global Solar Pump Market
The solar pump market is expected to witness market growth at a rate of 6.8% in the forecast period of 2022 to 2029 and is expected to reach USD 2.4 billion by 2029. Data Bridge Market Research report on solar pump market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the installing solar pump for water irrigation purpose is escalating the growth of solar pump market.
Solar water pumps are currently gaining importance as they run on electricity generated by solar panels which concludes in comparatively lower emissions.
Major factors that are expected to boost the growth of the solar pump market in the forecast period are the rise in the demand for alternative energy sources and initiatives taken by the government authorities. Furthermore, the growing urbanization is further anticipated to propel the growth of the solar pump market. Moreover, the increasing need for solar pumps in domestic applications is further estimated to cushion the growth of the solar pump market. On the other hand, growing initial investment costs is further projected to impede the growth of the solar pump market in the timeline period.
In addition, the growing awareness of solar water pumping, because of several country and local governments’ regulations to encourage production of energy from renewable sources to decrease the dependency on fossil fuels and minimize the emission of pollutants will further provide potential opportunities for the growth of the solar pump market in the coming years. However, the dearth of basic awareness regarding the configuration and functions of solar pumps might further challenge the growth of the solar pump market in the near future.
This solar pump market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on solar pump market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Solar Pump Market Scope and Market Size
The solar pump market is segmented on the basis of type, capacity and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the solar pump market is segmented into submersible and surface.
- On the basis of capacity, the solar pump market is segmented into Below 4 HP, 4-6 HP, 6-8 HP and Above 8 HP.
- On the basis of application, the solar pump market is segmented into farming, residential, commercial, national parks and industry water treatment.
Solar Pump Market Country Level Analysis
The solar pump market is analysed and market size, volume information is provided by country, type, capacity, and application as referenced above.
The countries covered in the solar pump market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the solar pump market due to the limited amount of power generation capacity. Furthermore, the grid infrastructure for community irrigation and water supply facilities will further boost the growth of the solar pump market in the region during the forecast period. Europe is projected to observe significant amount of growth in the solar pump market due to the augmented agricultural activities. Moreover, the water supply for livestock is further anticipated to propel the growth of the solar pump market in the region in the coming years.
The country section of the solar pump market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Solar Pump Market Share Analysis
The solar pump market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to fishmeal for aquafeed market.
Some of the major players operating in the solar pump market are Vincent Solar Energy., Tata Power Solar Systems Ltd., Shakti pumps (India) Ltd., Oswal Pump., LORENTZ., Lubi Industries LLP., SAMKING Solar Pump, Greenmax Technology., Aquasub Engineering., Stanley Black & Decker, Inc., KSB SE & Co. KGaA, Premier Energy Holdings., SunEdison Inc., and C.R.I. Pumps Private Limited among others.
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