Global Solar Water Pumps Market Report and Forecast 2023-2028

Global Solar Water Pumps Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global solar water pumps market is supported by the growth of the solar pumps market, which attained a value of USD 1.45 billion in 2022. Aided by the increasing demand for sustainable and efficient water pumping solutions, and the growing emphasis on renewable energy utilisation in agriculture and rural areas, the solar pumps market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 10.5%.

Solar water pumps, which utilise solar energy to power water pumping systems, are proving to be a game-changer for farmers in rural areas as well as for the broader clean water supply mission. These pumps are especially useful in regions with abundant sunshine and limited access to electricity. Apart from agricultural irrigation, they are increasingly being employed for domestic water supply, livestock watering, and even for water treatment applications.

The mounting pressure on water resources due to population growth and climate change has necessitated the search for sustainable irrigation methods, particularly in developing countries. This factor is likely to fuel the solar water pumps market demand in the forecast period. Solar water pumps, which are capable of providing a consistent and clean water supply without the recurring costs of diesel or electricity, are swiftly emerging as the preferred solution for millions of farmers.

Furthermore, the growing global emphasis on renewable energy adoption is driving policy support for solar solutions, including solar water pumps. Governments, international bodies, and NGOs are offering various incentives, including subsidies and grants, for the adoption of solar water pumps, especially in areas that lack access to the grid or where electricity is unreliable.

While the primary market for solar water pumps has historically been agriculture, the technology’s application is broadening. In many developing nations, solar water pumps are increasingly being deployed for rural and isolated community water supply. In addition, the solar water pumps market share is expected to be bolstered by their low operating costs and the sustainability of solar energy make them an attractive solution for governments and NGOs aiming to provide clean water access to every citizen.

Moreover, solar water pumps are finding applications in aquaculture to maintain water quality and in water treatment plants where they help in powering the movement of water through various treatment processes, making them crucial in ensuring the availability of clean and safe water. In this regard, the increasing pollution across urban and rural areas is bolstering the solar water pumps market growth.

Market Segmentation

The market can be divided based on type, current, application, and region.

Market Breakup by Type

• Surface Pump
• Submersible Pump
• Screw Pump
• Centrifugal Pump
• Floating Pump

Market Breakup by Current

• AC Pumps
• DC Pumps

Market Breakup by Application

• Agriculture
• Drinking Water
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global solar water pumps market. Some of the major players explored in the report by Expert Market Research are as follows:

• Lorentz
• Tata Power Solar Systems Ltd.
• Bright Solar Limited
• Rainbow Power Company Ltd.
• Grundfos Holding A/S
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.