Solar pump market to grow at 29.54 % CAGR during the forecast period.

Increasing dependency on renewable energy based products drives solar pumps market over the forecast period. Increasing government subsidies to install solar pumps is further expected to propel the market growth over the forecast period. Stringent government regulations to reduce carbon footprints are expected to accelerate solar pumps market growth. However, high initial cost compared to conventional diesel pumps poses a key challenge for market players.

DC surface suction is the leading product for solar pumps and accounted for three fourth of total solar pumps market in 2017. Increasing drip irrigation activities particularly in emerging economies of Asia Pacific is expected to drive solar powered DC suction pumps over the forecast period. While AC submersible pumps is foreseen to witness the highest growth rate over the forecast period. Escalating demand for greater efficiency solar pumps particularly in emerging economies of India is predicted to drive the demand for AC submersible pumps during the forecast period. AC submersible pumps are especially designed to pump groundwater from deeper wells or boreholes where DC suction pumps cannot be utilized.

Scope of Global Solar Pumps Market

Global Solar Pumps Market, By Product:

• DC Surface Suction

• AC Submersible

• DC Submersible

• AC Floating

Global Solar Pumps Market, By Application:

• Agriculture

• Drinking Water

Global Solar Pumps Market, By Region:

• North America

• South America

• Asia Pacific

• Europe

• Middle East & Africa

Key Player analyzed in the report for Global Solar Pumps Market:

• PM Pumpmakers GmbH

• Mono

• Megawatt New Energy

• Solar Online

• Dankoff Solar Pumps

• Lorentz Technology

• Polysolar

• Franklin Electric

• Tata Power Solar

• Greenmax Technololgy

• Sun Pumps

• Shenzhen Sacred

• Bodisun New Energy

• Sun Edison

• Jain Irrigation

• Shakti Pump

• CRI Pumps

• Tata Power Solar

• Kirloaskar Brothers

• Schnieder Electric

• Grundfos

• Bernt Lorentz GmbH & Co. KG

• Claro Energy Private Limited

• Waaree Energies Ltd.

• Zhejiang Taifu Pump Company Ltd.

• Yozeal New Energy Technology Co.,Ltd

• PM Pump Makers GmbH

• Solar Power & Pump Company

• SunEdison

• Rainbow Power Co., Ltd.

• Wenling Jintai Pump Factory

• American West Windmill & Solar Company

• Bright Solar Water Pumps

• USL

• GrundfoS

For more information visit: https://www.maximizemarketresearch.com/market-report/global-solar-pumps-market/27296/

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