According to Stratistics MRC, the Global Solar Pumps market is expected to grow from $0.027 billion in 2016 to reach $0.148 billion by 2022 with a CAGR of 32.2%. Growing customer preferences towards solar pumps rather than diesel pumps and raising demand for automated pump systems are some of the factors fuelling the market growth. In addition, due to less availability of its spare parts whenever required and huge capital investment are hindering the growth of the market.
Based on the application segment, agriculture industry leads the market globally as solar pumps are used where there is water scarcity, insufficient electricity and erratic rainfall. However, in product segment the demand for AC submersible pumps is growing rapidly as it is intended to supply groundwater from boreholes and deep wells. Asia Pacific is expected to witness huge growth due to increasing number of photovoltaic installations in China.
Some of the key players in global Solar Pumps market include USL, Bright Solar Water Pumps, Tata Power Solar Systems Ltd, CRI Group, Solar Power & Pump Co., LLC, Rainbow Power Co Ltd, American West Windmill & Solar Company, Grundfos, Wenling Jintai Pump Factory, SunEdison, Shakti Solar Pumping System, Lorentz, Greenmax Technology, Conergy, Dankoff Solar, Greenmax Technology and Flowserve.
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• Drinking water
• Other Applications
o Oil & gas
Product Types Covered:
• Alternating Current(AC) AC Floating
• Direct Current (DC) surface pump or floating pump set
• DC Submersible
• AC surface or submersible pump set
• North America
o Rest of Europe
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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