The solar pumps run on electricity generated by the solar panels and are advantageous over conventional pumps on account of cleaner energy source. Emerging world economies, such as India and China, in the APAC regions, present immense market potential on account of inadequate generation and massive consumption in these regions. Besides, the government in these countries are continually working towards deploying solar pumps and are increasingly offering subsidies and assistance for the same.
MARKET DYNAMICS
The solar pumps market is anticipated to witness a healthy growth in the forecast period with increasing agricultural activities and financial incentives from the government encouraging exploitation of renewable energy. Moreover, strict regulations to reduce carbon footprint is further expected to fuel the growth of the solar pumps market. The high initial costs over conventional diesel pumps, however, may hamper the growth of the solar pumps market. Nonetheless, depleting fossil fuels, leading to greater dependency on renewable energy, offer substantial growth opportunities for the players operating in the solar pumps market during the forecast period.
MARKET SCOPE
The "Global Solar Pumps Market Analysis to 2028" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of solar pumps market with detailed market segmentation by product type, end user, pump capacity, and geography. The global solar pumps market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar pumps market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global solar pumps market is segmented on the basis of product type, end user and pump capacity. Based on product type, the market is segmented as DC surface suction solar pumps, DC submersible solar pumps, AC submersible solar pumps, and AC floating solar pumps. On the basis of the end user, the market is segmented as residential and commercial. On the other h and , by pump capacity, the market is segmented as below 5PH, Up to 5PH, 6 to 8PH, and above 8PH.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global solar pumps market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The solar pumps market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting solar pumps market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the solar pumps market in these regions.
MARKET PLAYERS
The reports cover key developments in the solar pumps market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from solar pumps market are anticipated to lucrative growth opportunities in the future with the rising demand for solar pumps in the global market. Below mentioned is the list of few companies engaged in the solar pumps market.
The report also includes the profiles of key solar pumps companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- American West Windmill & Solar Co.
- Bright Solar Limited
- Grundfos
- LORENTZ
- Rainbow Power Company Ltd
- Shakti Pumps (India) Ltd.
- Solar Power & Pump Company, LLC
- Tata Power Solar Systems Ltd.
- USL
- Wenling Jintai Pump Factory Limited
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.