Solar Water Pump Market to Grow at a CAGR of 9% by 2024 due to Increase in use of Renewable Energy

Global Solar Water Pumps Market

Solar water pumps can supply water to locations which are beyond the reach of power lines. Commonly, such places relied on human or animal power or on diesel engines for their water supply.

The Middle East and Africa emerged as the largest solar pump market and accounted for 42.5% of the total revenue market in 2017. Countries such as China, India, Bangladesh, Pakistan, Morocco, Kenya, Namibia, and Nigeria have set targets to reduce fossil fuel imports and benefit financially from it. These regions have abundant solar energy supply with a huge renewable energy tapping potential.

DC Surface Suction emerged as the leading product for solar pumps and accounted for about 78% of total solar pumps market in 2017. Agriculture was the dominant application segment of solar pumps and accounted for 63% of the total solar pumps market in 2017.

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Solar pumps are primarily used for agricultural and drinking water purposes. They are used in remote regions where off-grid energy in the form of electricity is not available. Use of solar energy to drive pumps cut down the operating cost, which is majorly consumed in the form of diesel.

According to this study, over the next five years, the Solar Water Pumps market will register a 9.0% CAGR in terms of revenue, the global market size will reach US$ 1570 million by 2024, from US$ 1020 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in the Solar Water Pumps business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Solar Water Pumps market by product type, application, key manufacturers and key regions and countries.

This study considers the Solar Water Pumps value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

DC Surface Suction
AC Submersible
DC Submersible
AC Surface Pumps

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

Agriculture
Drinking Water
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

America
APAC
Europe
Middle East & Africa

The key manufacturers covered in this report: Breakdown data in in Chapter 3.

JNTech
JISL
Tata Power Solar
Grundfos
Lorentz
Shakti Pumps
CRI Group
ADA
Hanergy
Symtech Solar
Dankoff Solar
Solar Power & Pump
MNE
Greenmax Technology

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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

To study and analyze the global Solar Water Pumps consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Solar Water Pumps market by identifying its various sub-segments.
Focuses on the key global Solar Water Pumps manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Solar Water Pumps with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks.
To project the consumption of Solar Water Pumps submarkets, with respect to key regions along with their respective key countries.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

Table of Content Covers the Topics mentioned below

2019-2024 Global Solar Water Pump Consumption Market Report

Scope of the Report
Executive Summary
Global Solar Water Pump by Players
Solar Water Pump by Regions
Americas Market
APAC Market
Europe Market
The Middle East & Africa Market
Market Drivers, Challenges and Trends
Marketing, Distributors, and Customer
Global Solar Water Pump Market Forecast
Key Players Analysis
Research Findings and Conclusion

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