Global Solar Water Pump Systems Market Analysis & Trends - Industry Forecast to 2030
Solar Water Pump Systems: Market Size
From $1.5 billion in 2024, the global Solar Water Pump Systems market is projected to reach $3.4 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 14.6% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include increasing adoption of renewable energy technologies, growing awareness regarding clean energy sources, and rising demand for energy.
Global Solar Water Pump Systems Market: Market Dynamics
The investment for infrastructural developments is the major demand driving factor of the market. During the next decade, the infrastructure is growing at an exponential rate. Many governments are supporting the generation of clean and renewable energy. As part of the governmental initiative, water storage, water extraction and water recycling are crucial measures. The environmental organizations are approaching the government to invest more in energy-efficient solar-water pumps. This support by the government is also another demand driving factor of the solar water pumps market.
On the other hand, the high cost of installation is likely to obstruct the profit boundaries. In addition, increasing rate of urbanization will further boost for the Solar Water Pump Systems market.
Impact of COVID-19 on Solar Water Pump Systems
The Covid-19 solar water pumps market trends show a decrease. The factors responsible for the decrease are fewer investments and economic fluctuations. Due to the pandemic, the demand and supply chain of the solar water pumps market is severely affected. The price reduction is another covid effect on this market.
By Pump Type
Submersible Pump Segment Dominate the Market in 2024
The submersible pump segment made huge revenue in 2024 and growing its prominence during the forecast period. Submersible pumps are located deep below the ground level and their suction head is beyond a depth of 10 meters, so it can lift water from significantly deeper sources.
By Geography
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is likely to have a huge demand in the forecast period owing to the increasing power demand and need for drinking safe water. The increasing awareness of the potential benefits of this technology has compelled a number of countries in the region to accelerate the deployment of solar water pump.
List of the Key Players Profiled in the Market Include:
• C.R.I. Pumps Private Ltd. • Kirloskar Brothers Ltd. • Advanced Power Inc. • Bright Solar Ltd • Tata Power Company Ltd. • Bernt Lorentz GmbH • KSB Ltd • Shakti Pumps (India) Ltd.
List of the Regions/Countries Profiled in the Market Include:
North America • US • Canada • Mexico Europe • Germany • U.K • Italy • France • Spain • Rest of Europe Asia Pacific • China • Japan • India • Australia • New Zealand • Rest of Asia Pacific Middle East • Saudi Arabia • UAE • Rest of Middle East Latin America • Argentina • Brazil • Rest of Latin America Rest of the World (RoW) • South Africa • Others
1 Market Outline
1.1 Definition
1.2 Market Segmentation & Scope
1.3 Market Trends
1.4 Regulatory Factors
1.5 Application Analysis
1.6 Strategic Benchmarking
1.7 Opportunity Analysis
2 Executive Summary
3 Research Methodology and Data Source
3.1 Methodology/Research Approach
3.1.1 Research Programs/Design
3.1.2 Market Size Estimation
3.2 Data Source and Assumptions
3.2.1 Purchased Database
3.2.2 Company Repository
3.2.3 Secondary Sources
3.2.4 Primary Research
3.2.5 List of Assumptions
4 Market Overview
4.1 Current Trends
4.1.1 Increasing Adoption of Renewable Energy Technologies
4.1.2 Growing Awareness Regarding Clean Energy Sources