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Global Solar Pump Market to reach USD 2.0 billion by 2027

Global Solar Pump Market Size study, by Product (Surface Suction, Submersible, Floating), by Operation (AC Pump, DC Pump), by End-User (Agriculture, Water Management, Others) and Regional Forecasts 2020-2027

Product Code: EAPRE_15487343
Publish Date: 18-02-2020
Page: 200

Global Solar Pump Market is valued approximately at USD 1.2 billion in 2019 and is anticipated to grow with a CAGR of more than 6.8% over the forecast period 2020-2027. The solar energy concept is no longer limited across developed regions, however, it is gradually being adopted all over the world. It has been acclaimed as a one-stop solution for the development of a sustainable future. With the emergence of solar energy concepts, solar pumps have been developed. These pumps usually operate on the electricity production through using photovoltaic panels or radiated thermal energy accessible from accumulated sunlight against diesel-run water pumps. The function of solar pumps is more economical than traditional pumps, due to the lower maintenance and operation costs and also limited environmental impact as compared to pumps powered by an internal combustion engine (ICE). These pumps are usually useful where grid electricity is inaccessible and replacement sources do not provide adequate energy. The rise in demand for electricity generated through renewable energy sources, along with the increasing government subsidies in the form of financial incentives to install solar pumps are the few factors responsible for the CAGR of the market during the forecast period. According to the Center for Climate and Energy Solution, the U.S. is a leading country in the generation of renewable energy, increasing at 100% from 2000 to 2018. Renewable made up over 17% of net electricity generation in 2018, with the massive share getting from hydropower (7%) and wind power (6.6%). While solar generation (comprising distributed) is anticipated to reach from 11% of the overall U.S. renewable generation in 2017 to 48% by 2050, that makes it the fastest-growing electricity source. This, in turn, is expected to strengthen the market growth all over the world. However, the high installation of solar pump cost is one of the major factors restraining the market growth over the forecast period of 2020-2027.

The regional analysis of the global Solar Pump market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the favorable government support and subsidies for the installation of solar pumps in agricultural activities, along with the presence of a significant number of manufacturers in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Vincent Solar Energy
Tata Power Solar Systems Ltd.
Shakti Solar Pumping System
CRI Pump Pvt. Ltd.
Oswal Pump Ltd.
Bright Solar Limited
Greenmax Technology
Aqua Group
SunEdison, Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Surface Suction

By Operation:
AC Pump
DC Pump

By End-User:
Water Management

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Solar Pump Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Solar Pump Market, by Region, 2018-2027 (USD Billion)
1.2.2. Solar Pump Market, by Product, 2018-2027 (USD Billion)
1.2.3. Solar Pump Market, by Operation, 2018-2027 (USD Billion)
1.2.4. Solar Pump Market, by End-User, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Solar Pump Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Solar Pump Market Dynamics
3.1. Solar Pump Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Solar Pump Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Solar Pump Market, by Product
5.1. Market Snapshot
5.2. Global Solar Pump Market by Product, Performance – Potential Analysis
5.3. Global Solar Pump Market Estimates & Forecasts by Product 2017-2027 (USD Billion)
5.4. Solar Pump Market, Sub Segment Analysis
5.4.1. Surface Suction
5.4.2. Submersible
5.4.3. Floating
Chapter 6. Global Solar Pump Market, by Operation
6.1. Market Snapshot
6.2. Global Solar Pump Market by Operation, Performance – Potential Analysis
6.3. Global Solar Pump Market Estimates & Forecasts by Operation 2017-2027 (USD Billion)
6.4. Solar Pump Market, Sub Segment Analysis
6.4.1. AC Pump
6.4.2. DC Pump
Chapter 7. Global Solar Pump Market, by End-User
7.1. Market Snapshot
7.2. Global Solar Pump Market by End-User – Potential Analysis
7.3. Global Solar Pump Market Estimates & Forecasts by End-User 2017-2027 (USD Billion)
7.4. Solar Pump Market, Sub Segment Analysis
7.4.1. Agriculture
7.4.2. Water Management
7.4.3. Others
Chapter 8. Global Solar Pump Market, Regional Analysis
8.1. Solar Pump Market, Regional Market Snapshot
8.2. North America Solar Pump Market
8.2.1. U.S. Solar Pump Market Product breakdown estimates & forecasts, 2017-2027 Operation breakdown estimates & forecasts, 2017-2027 End-User breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Solar Pump Market
8.3. Europe Solar Pump Market Snapshot
8.3.1. U.K. Solar Pump Market
8.3.2. Germany Solar Pump Market
8.3.3. France Solar Pump Market
8.3.4. Spain Solar Pump Market
8.3.5. Italy Solar Pump Market
8.3.6. Rest of Europe Solar Pump Market
8.4. Asia-Pacific Solar Pump Market Snapshot
8.4.1. China Solar Pump Market
8.4.2. India Solar Pump Market
8.4.3. Japan Solar Pump Market
8.4.4. Australia Solar Pump Market
8.4.5. South Korea Solar Pump Market
8.4.6. Rest of Asia Pacific Solar Pump Market
8.5. Latin America Solar Pump Market Snapshot
8.5.1. Brazil Solar Pump Market
8.5.2. Mexico Solar Pump Market
8.6. Rest of The World Solar Pump Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Vincent Solar Energy Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Tata Power Solar Systems Ltd.
9.2.3. Shakti Solar Pumping System
9.2.4. CRI Pump Pvt. Ltd.
9.2.5. Oswal Pump Ltd.
9.2.6. Lorentz
9.2.7. Bright Solar Limited
9.2.8. Greenmax Technology
9.2.9. Aqua Group
9.2.10. SunEdison, Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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