Global Solar Pump Market Outlook 2018-2023

Global Solar Pump Market is estimated to witness substantial growth in the coming years due to growing agricultural activities. Solar pump is an electrical pump system which runs on Photovoltaic panels. It is a socially and environment-friendly technology that supplies water. It is an ideal technology for the remote areas which lack power lines. They are increasingly being replaced with the existing pumping systems since they are beneficial in both climate and socio-economic conditions. Solar pump is integrated with a solar panel array, powered by an electric motor which automates surface pump or a bore.

Solar pump market is driven by increasing government initiatives for reducing carbon footprints, high adoption by developed economies, increasing popularity among end-users of emerging economies, and increasing preference for solar pumps in place of diesel pumps. Moreover, rise in need for agricultural productivity and growing technological advancements is driving the market. However, high initial investment factor is expected to hamper the growth of the market. 

Prominent players focusing on introducing innovative solutions for the improvement in manufacturing process and design is an emerging trend in the market. Most manufacturers are also investing heavily in research and development for innovations, brand building, and strengthening strong relationships with consumers.

Solar pump market is categorized on the basis of product type, application, end use, and geography. On the basis of product type, market of solar pump is divided into AC submersible, AC floating, DC surface suction, and DC submersible. DC surface suction segment is predicted to hold larger share of the market due to rise in drip irrigation activities in developing economies of Middle East and Africa and Asia Pacific.

In terms of application, market of solar pump is bifurcated into drinking water and agriculture. Drinking water segment is anticipated to lead the market due to growing population that need drinking water, and numerous applications of water.

Based on end use, market of solar pump is split into industrial use, domestic use, and agriculture use. Agriculture and domestic end use segments are predicted to lead the market due to increased application for irrigation and livestock.

Geographically, solar pump market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific region is expected to dominate the market in the coming years due to increase in agricultural activities, favorable government initiatives, and increased number of pump manufacturers. Moreover, Africa is expected to contribute significantly due to increase in demand for clean water for irrigation and drinking from African countries like Kenya, Namibia, Morocco, etc.

The top players in solar pump market include Jain Inc., Greenmax Technology, Hanergy, Solar Power & Pump, CRI Group, JNTech, MNE, JISL, Symtech Solar, Tata Power Solar, Dankoff Solar, Grundfos, Lorentz, ADA, and Shakti Pumps.

Global Market for solar pump to 2023 offers detailed coverage of solar pump industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading solar pump producers to provide exhaustive coverage of the solar pump.

Report contents include
- Analysis of the solar pump market including revenues, future growth, market outlook
- Historical data and forecast
- Regional analysis including growth estimates
- Analyzes the end user markets including growth estimates.
- Profiles on solar pump including products, sales/revenues, and market position
- Market structure, market drivers and restraints.

Key regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

Key Vendors
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