Market Size of India Solar Water Pump Systems Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 15.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Solar Water Pump Systems Market Analysis
The Indian solar water pump systems market is expected to register a CAGR of 15% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.
- Over the long term, the high solar power targets set by the country for the coming years, and the ease of installation of these systems, are expected to drive the market.
- On the other hand, the sociological and economic needs of the users are expected to hinder the market growth in the near future, as they come in competition with the agricultural spaces required for them.
- Nevertheless, the volatile diesel or gas prices associated with fuel-based pumping systems create ample opportunities for the demand for solar-powered water pumps in the coming years.
