With the emergence and long-term Impact of COVID-19, Global Solar Water Pump Market to reach USD 6.85 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Solar Water Pump Market points towards a potential rise to USD 6.85 Billion by 2030. A solar water pump is a type of water pumping system that utilizes energy from the sun to pump water. It consists of a solar panel array, a pump, and sometimes a storage tank or battery system.
The solar panels convert sunlight into electrical energy, which powers the pump to draw water from a water source such as well, river, or lake Solar water pumps contribute to sustainable water management by utilizing renewable energy, reducing carbon emissions, and conserving fossil fuels. They are an effective solution for accessing water in remote areas and promoting agricultural productivity and rural development. The Solar Water Pump market is expanding because of factors such as growing agricultural sector and rising government incentives and policies.
Geographically, the global Solar Water Pump market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to the factors such as rising agricultural activities, rising number of government favorable policies and incentives scheme, rising adoption of green energy resources rising investment in agriculture production in the region. Europe is projected to register a significant growth owing to factors such as rising government initiative for clean energy projects, rising development of sustainable irrigation technologies, rising green grid initiatives in the region.
The global Solar Water Pump market is highly competitive owing to the presence of several key players such as Alpex Solar Pvt Ltd Aqua Group Bright Solar Limited C.R.I. Pumps Private Limited Crompton Greaves Consumer Electricals Limited Lorentz Dankoff Solar Duke Plasto Technique Private Limited Novergy Energy Solutions Pvt. Ltd. Surya International, and others.
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Global Solar Water Pump Market Size study & Forecast, by Type (Submersible Pump, Surface Pump) by Motor Type (AC Pumps, DC Pumps), by Power Rating (Up to 5 HP, 5 HP to 10 HP, 10 HP to 20 HP, more than 20 HP), by Application (Agriculture, Water Treatment Others) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Solar Water Pump Market is anticipated to grow with a healthy growth rate of more than 10.20% over the forecast period 2023-2030.
- In the Type segment, Submersible Pump emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to the factors such as rising agricultural activities, rising number of government favorable policies and incentives scheme, rising adoption of green energy resources rising investment in agriculture production in the region.
- Europe is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
- Submersible Pump
- Surface Pump
By Motor Type:
- AC Pumps
- DC Pumps
By Power Rating:
- Up to 5 HP
- 5 HP to 10 HP
- 10 HP to 20 HP
- More than 20 HP
- Water Treatment
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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