Solar Water Pump Systems Market Size - Segmented by Product (DC Surface Suction, AC Submersible, DC Submersible AC Floating), By End User (Agriculture, Drinking Water Industrial), and Geography - Growth, Trends, and Forecast (2019 - 2024).

Solar Water Pump Systems Market Size - Segmented by Product (DC Surface Suction, AC Submersible, DC Submersible AC Floating), By End User (Agriculture, Drinking Water Industrial), and Geography - Growth, Trends, and Forecast (2019 - 2024).

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Solar Water Pump Systems Market

The solar water pump market is estimated to witness a high growth rate during the forecast period, 2018-2023. Solar water pumps are increasingly used in the regions where grid electricity is not available. Use of solar energy to drive the pumps cut down the operating cost, which is majorly consumed in the form of diesel. Also, stringent government regulations to reduce carbon footprints have been one of the major reasons for the increasing adoption of solar water pumps. Government in countries, such as China, India, Bangladesh, Pakistan, Morocco, Kenya, Namibia, and Nigeria have introduced financial subsidies, tax policies, price policies, and funding activities that have driven the solar water pump market. The potential for solar water pump can be identified from the fact that in countries, like Bangladesh, which are heavily dependent on diesel-based water pumps can save 450 million liters of diesel and reduce emissions by one million ton of CO2 annually, if 50,000 solar irrigation pumps are installed.

                                               Solar Water Pumps Market

Government Regulations and Incentives Driving the Solar Water Pump Systems Market

The installation costs of solar water pumps are usually high and the investment payback period is found to be 4-6 years. Government subsidies to farmers, as well as solar pump manufacturers, especially in emerging economies of Asia-Pacific are expected to drive the solar water pump market in the forecast period. For example. in India where the government has introduced a budget scheme in which the farmer has to pay only 10% cost of solar water pumps. The PV module costs have declined from 62 cents/W in 2015 to 33 cents/W in 2017, and is expected to further decrease with technological advancements in the coming years, and help to reduce the payback period and support the growth of the market.

Asia-Pacific Holds the Largest Share in Solar Water Pump Systems Market

Asia-Pacific has emerged as the one of the largest solar pump market. The massive increase in power consumption in developing countries, such as China and India, with inadequate power generation capacity and grid infrastructure for irrigation and community water supply facilities, solar water pumps have a good chance of replacing the conventional pumps. Increasing awareness of the potential benefits of this technology has compelled a number of countries to accelerate the deployment of solar water pumps. For example, Bangladesh has set a target to deploy 50,000 solar pumps by 2025, India, 100,000 by 2020; and Morocco, 100,000 by 2022.

Bangladesh – A Huge Market Potential

The farmers in Bangladesh had to spend Tk 2,000 for irrigating one third of an acre of land with conventional diesel or electric water pumps every season. The increasing power demand and need for safe drinking water has led to the deployment of solar water pumps in the country. Infrastructure Development Company Ltd. (IDCOL), a financing company in Bangladesh, tried and tested ownership model, wherein microfinance has been used as a tool to enhance rural household’s ability to afford capital-intensive solar home systems- is being applied to solar pumping solutions. IDCOL has set itself a target to deploy 50,000 solar irrigation systems by 2025. Under the proposed agreement, IDCOL provides a combination of grant and credit to partner organizations to install and operate pumps.

Key Developments in the Solar Water Pump Systems Market

  • January 2018: Lorentz installed a PS1800 C-SJ5-12 system in the village temple and school in Chok Na Sam, Thailand, which provides 30m3 of water per day

Solar Water Pumps Market Major Players 

  • Lorentz
  • SunEdison Inc.
  • C. R. I Pumps Pvt Ltd
  • Solar Power & Pump Company LLC
  • Tata Power Solar Systems Ltd.
  • Shakti Pumps (India) Ltd.
  • Wenling Jintai Pump Factory Limited
  • Bright Solar Limited
  • Grundfos
  • Symtech Solar

Reasons to Purchase Solar Water Pumps Market Report

  • Current and future solar water pumps market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market share, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

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1. Executive Summary                  

2. Research Methodology                           

                2.1 Scope of the Report

                2.2 Market Definition    

                2.3 Study Assumptions 

                2.4 Study Deliveravles   

                2.5 Research Phases      

3. Solar Water Pumps Market Overview                       

                3.1 Introduction               

                3.2 Investment Opportunities         

                3.3 Recent Trends and Developments   

                3.4 Government Policies & Regulations   

4. Market Dynamics                       

                4.1 Solar Water Pumps Market Drivers          

                4.2 Solar Water Pumps Market Restraints    

                4.3 Solar Water Pumps Market Opportunities            

5. Solar Water Pumps Market Value Chain Analysis                 

6. Industry Attractiveness - Porter's Five Forces Analysis                              

                6.1 Bargaining Power of Suppliers            

                6.2 Bargaining Power of Consumers       

                6.3 Threat of New Entrants         

                6.4 Threat of Substitute Product and Services    

                6.5 Intensity of Competitive Rivalry        

7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)                              

                7.1 Solar Water Pumps Market By Pump Type  

                                7.1.1 Surface Pump

                                7.1.2 Submersible Pump

                               Screw Pump

                               Centrifugal Pump

                                7.1.3 Floating Pump

                7.2 Solar Water Pumps Market By Current Type

                                7.2.1 AC Pumps

                                7.2.2 DC Pumps

                7.3 Solar Water Pumps Market By Application

                                7.3.1 Agriculture

                                7.3.2 Drinking Water Supply

                                7.3.3 Industrial

                                7.3.4 Other Applications

8. Solar Water Pumps Market Regional Analysis (Overview, Market Size, and Demand Forecast until 2023)                  

                8.1 North America Solar Water Pumps Market Size (2018-2023)         

                8.2 Europe Solar Water Pumps Market Size (2018-2023)        

                8.3 South America Solar Water Pumps Market Size (2018-2023)          

                8.4 Asia-Pacific  Solar Water Pumps Market Size (2018-2023)

                8.5 Middle East & Africa Solar Water Pumps Market Size (2018-2023)

9. Solar Water Pumps Market Competitive Landscape                           

                9.1 Mergers and Acquisitions     

                9.2 Joint Ventures, Collaborations, and Agreements       

                9.3 Strategies Adopted by Leading Players          

10. Solar Water Pumps Market Key Company Analysis (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)                               

                10.1 Lorentz      

                10.2 C. R. I. Pumps Private Limited           

                10.3 Tata Power Solar Systems Ltd.         

                10.4 Shakti Pumps (India) Ltd.   

                10.5 Wenling Jintai Pump Factory Limited             

                10.6 Bright Solar Limited               

                10.7 GRUNDFOS              

                10.8 Symtech Solar       

                *List not Exhaustive       

11. Solar Water Pumps Market Future Outlook

12. Disclaimer 

                **Subject to availability on public domain                           

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