Solar Pumps Market: size and forecast, 2015-2025 by Future Market Insights

Global Solar Pumps
Market
Share, Global Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2015
Future Market Insights
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Report
Description
Report Description
Increasing development in the industrial, residential and agricultural industry along with lower
operation and maintenance cost, the demand for global solar pumps market is rapidly
escalating. Solar Pump is a pump which runs on electricity generated by thermal energy
(available from collected sunlight) or photovoltaic panels (method of converting solar energy
into direct current electricity). Considering maintenance, this solar pumps last for more than 16
years on field. This solar pumps are neither dependent upon diesel nor electricity thus, ensuring
people at remote areas to avail the benefit which in turn will further result in increased
efficiency and productivity. Solar Pumps are free from difficulties like supply cut, feeder damage,
rate hikes etc. Additionally, solar pump provides less environmental impact than other powered
(internal combustion engine) pumps which have witnessed a major growth in the global solar
pumps market.
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Solar Pumps Market: Drivers & Restraints
Solar pumps are also known as Solar PV water pumping system. Solar pumps are very useful
where grid electricity is unreachable and substitute sources (in particular wind) do not provide
adequate energy. Simultaneous growth in agriculture, demand for other water intensive
industries along with increasing government support (tax and subsidies benefits) are the major
factors driving the growth in solar pumps market.
Report
Description
Report Description
On account of shift in industry towards eco-friendly feature, the demand for global solar
pumps is increasing. However, higher investment cost, availability of spare parts (on time) and
after sales services are acting as nagging issue in the growth of the global solar pump market.
Solar Pumps Market: Segmentation
Global Solar pumps market can be segmented on the basis of types:
• Direct Current (DC) surface pump ( centrifugal ) or floating pump set
• AC surface or submersible pump set
• DC submersible
• Alternating Current (AC) AC floating
On the basis of application, the global solar pump market can be segmented into:
• Drinking water
• Agriculture Purpose
• Other (Chemical, Oil & gas)
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Report
Description
Report Description
Solar Pumps Market: Region-wise Outlook
Agriculture is considered as the largest application segment and is expected to witness the
fastest growth through 2015 to 2025. Growing agricultural activities in emerging markets such as
India and China, among others is expected to drive agriculture segment over the forecast
period.
The global solar pump market is geographically segmented into seven key regions: North
America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East &
Africa. Asia-Pacific market is the fastest growing market and holds the major market share in
global solar pump market.In India, China and Japan, to assist the growth of agriculture, the
government is introducing various policies in these countries. The region is expected to grow at
a double digit CAGR through 2015 to 2025.
Solar Pumps Market: Key Players
Some of the key market participants in the global solar pumps market include TATA Power Solar
Systems, Lorentz, Bright Solar, Sun Edison, Shakti Solar Pumping Systems, USL, among many
others.
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Report
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Increasing development in the industrial, residential and agricultural industry along with lower operation and maintenance cost, the demand for global solar pumps market is rapidly escalating. Solar Pump is a pump which runs on electricity generated by thermal energy (available from collected sunlight) or photovoltaic panels (method of converting solar energy into direct current electricity).