Solar Pumps Market Projected to Witness a Single-Digit CAGR During 2015-2025

Energy, Mining, Oil, and Gas
January 2018
Report Id : REP-GB-520
Status : Ongoing
Category : Energy, Mining, Oil, and
Gas
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Solar Pumps Market
Increasing development in the industrial, residential and agricultural industry along with
lower operation and maintenance cost, the demand for global solar pumps market is
rapidly escalating. Solar Pump is a pump which runs on electricity generated by thermal
energy (available from collected sunlight) or photovoltaic panels (method of converting
solar energy into direct current electricity). Considering maintenance, this solar pumps
last for more than 16 years on field. This solar pumps are neither dependent upon diesel
nor electricity thus, ensuring people at remote areas to avail the benefit which in turn
will further result in increased efficiency and productivity.Solar Pumps are free from
difficulties like supply cut, feeder damage, rate hikes etc. Additionally, solar pump
provides less environmental impact than other powered (internal combustion engine)
pumps which have witnessed a major growth in the global solar pumps market.
Solar Pumps Market: Drivers & Restraints
Solar pumps are also known as Solar PV water pumping system. Solar pumps are very
useful where grid electricity is unreachable and substitute sources (in particular wind) do
not provide adequate energy. Simultaneous growth in agriculture, demand for other
water intensive industries along with increasing government support (tax and subsidies
benefits) are the major factors driving the growth in solar pumps market. On account of
shift in industry towards eco-friendly feature, the demand for global solar pumps is
increasing. However, higher investment cost, availability of spare parts (on time) and
after sales services are acting as nagging issue in the growth of the global solar pump
market.
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Solar Pumps Market
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Solar PumpsMarket: Segmentation
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Global Solar pumps market can be segmented on the basis of types:
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Direct Current (DC) surface pump ( centrifugal ) or floating pump set
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AC surface or submersible pump set
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DC submersible
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Alternating Current (AC) AC floating
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On the basis of application, the global solar pump market can be segmented
into:
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Drinking water
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Agriculture Purpose
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Other (Chemical, Oil & gas)
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Solar Pumps Market
Request For Report Table of Content (TOC):
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Solar Pumps Market: Region-wise Outlook
The global solar pump market is geographically segmented into seven key
regions: North America, South America, Eastern Europe, Western Europe,
Asia Pacific, Japan and Middle East & Africa. Asia-Pacific market is the
fastest growing market and holds the major market share in global solar
pump market.In India, China and Japan, to assist the growth of agriculture,
the government is introducing various policies in these countries. The
region is expected to grow at a double digit CAGR through 2015 to 2025.
Solar Pumps Market: Key Players
Some of the key market participants in the global solar pumps market
include TATA Power Solar Systems, Lorentz, Bright Solar, SunEdison, Shakti
Solar Pumping Systems, USL, among many others.
Browse [email protected]
https://www.futuremarketinsights.com/reports/solar-pumps-market
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