In 2018, the market size of Solar Pumps Market is million US$ and it will reach million US$ in 2025, growing at a CAGR of from 2018; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2018 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Solar Pumps .
This report studies the global market size of Solar Pumps , especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
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This study presents the Solar Pumps Market production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. Solar Pumps history breakdown data from 2014 to 2018, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2018.
In global Solar Pumps market, the following companies are covered:
manufacturers over the forecast period. Despite being the third largest regional market for solar pumps after MEA and China, India is anticipated to witness fostered adoption compared to others. As a result, India is expected to be the fastest growing region with an estimated CAGR of over 15% during 2017-2027. China, the second largest region with over 17% revenue share registered in 2017, will see healthy growth in the next decade at a CAGR value almost similar to that of Japan and Eastern Europe. While MEA will remain the top market for solar pumps, it is foreseen to follow India in terms of CAGR. Western Europe and North America will follow steady growth at a single-digit CAGR, whereas Eastern Europe will exhibit robust growth at a CAGR of over 11%. SEAP is identified to be emerging as a highly lucrative market for solar pumps with a projected CAGR of more than 12%.
Governmental policies to underpin robust market growth in India
High upfront capital costs and relatively lower awareness among farmer communities have been the major barriers impacting the market performance over the years. However, since the recent past, agricultural sector has become a key consumer of solar pumps, attributed to attractive government schemes proposed for farmers and growing affordability of solar pumps. Favorable government initiatives are identified to provide a thrust to pronounced adoption of solar pumps across developing Asian countries, including India. Bolstering demand from water-intensive industries will remain one of the key factors positively influencing the market growth in this region. In addition, tax and subsidy benefits as a result of growing support from the government to renewable energy projects is expected to be a significant factor in shaping the future of solar pumps sales in India. To be more specific, South India will experience a larger share, followed by North India and West India.
Irrigation to remain top consumer of solar pumps – globally and in India
In terms of application, irrigation has been the top application generating substantial demand for solar pumps on a global level. Irrigation is projected to remain a dominant application throughout the forecast period. While adoption of solar pumps for irrigation purpose will continue at a rapid pace all over the globe, a large number of farmer communities in India are also expected to embrace deployment of solar powered pumps for irrigation. Advancing agricultural technologies and increasing efforts for water conservation at ground level will collectively fuel the opportunities for solar powered pumps used for irrigation application across India. While the government is providing direct subsidies for promoting deployment of solar pumps, several NGOs such as The Sehgal Foundation, through combined investment of farmers, have preferred to pilot solar pump initiatives in different parts of India. In a bid to support and encourage large-scale deployment of solar pumps in near future, the government is providing farmers with an interest-subsidy along with reduced capital-subsidy.
Jain Irrigation, Shakti Pump, CRI Pumps, Tata Power Solar, and Kirloaskar Brothers are a few of the key players participating in the Indian as well as global solar pumps market. Recently, Denmark-based Grundfos Group has announced the launch of its new plant in Gujrat so as to expand in India and amplify the global market footprint.
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The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Solar Pumps product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Solar Pumps , with price, sales, revenue and global market share of Solar Pumps in 2017 and 2018.
Chapter 3, the Solar Pumps competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Solar Pumps breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2018.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2018.
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Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2014 to 2018.
Chapter 12, Solar Pumps market forecast, by regions, type and application, with sales and revenue, from 2018 to 2024.
Chapter 13, 14 and 15, to describe Solar Pumps sales channel, distributors, customers, research findings and conclusion, appendix and data source.