The solar water pump operates on power generated through solar photovoltaic system. This system convert the solar energy into electricity, that is utilized for running a motor pump set. With government focus for having clean and renewable energy; water storage, water recycling, and water extraction are the vital key areas government is focusing. This aspect will help in propelling the consumption of solar water pumps.
MARKET DYNAMICS
The factors attributing toward the growth of the market includes continuous infrastructural developments; rising construction activities in residential & industrial sector. With an increase in infrastructural activities, water extraction will also rise. This will impact the adoption of water pumps. In addition to this, favorable government support for urbanization, demand for energy-efficient to have non-stop water supply are some other aspects projected to provide ample of growth opportunities to the players operating in the solar water pump market.
MARKET SCOPE
The "Global Solar Water Pump Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the solar water pump market with detailed market segmentation - type, drive type, end user, and geography. The global solar water pump market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar water pump market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the solar water pump market is segmented into submersible, surface.
- On the basis of drive type, the solar water pump market is segmented into AC motor, DC motor.
- Based on end user, the solar water pump market is segmented into residential, commercial, industrial.
IMPACT OF COVID-19 ON SOLAR WATER PUMP MARKET
The outbreak of the COVID-19 has negatively impacted the growth of solar water pump market. The pandemic has caused marginal impact on solar water pump, due to closure of manufacturing plants and halt in manufacturing activities in different corners of the world. Also, disruption on travels and ban on supply chain has adversely resulted into the development of solar water pump. With closure of manufacturing plants, the supply of raw materials & components used in the assembly of solar water pumps got disturbed.
Due to decline in the activities of groundwater extraction, mining, and treatment has adversely impacted the demand for solar water pumps. In additon, the raw materials price is also rising which is distuburing the entire manufacturing process of solar water pumps.
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 water pump market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America (SAM). The solar water pump 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 the solar water pump 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 water pump in these regions.
MARKET PLAYERS
The reports cover key developments in the solar water pump 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 way for the expansion of business and customer base of market players. The market payers from solar water pump market are anticipated to lucrative growth opportunities in the future with the rising demand for solar water pump in the global market. Below mentioned is the list of few companies engaged in the solar water pump market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the solar water pump market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ACVA Solar
- Aqua Sun Solar Solutions
- Cap Solar Pumps Ltd.
- Commodore Australia
- Grundfos
- Jakson
- Lubi Electronics
- Tata Power Solar
- Waaree Energies Ltd.
- Xiamen Amplesolar Technology Co., Ltd.
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.