Global Photovoltaic Pump Market Growth 2023-2029

Global Photovoltaic Pump Market Growth 2023-2029

A Photovoltaic pump (AKA Solar pump) is a pump running on electricity generated by photovoltaic panels or the thermal energy available from collected sunlight as opposed to grid electricity or diesel run water pumps. The operation of solar powered pumps is more economical mainly due to the lower operation and maintenance costs and has less environmental impact than pumps powered by an internal combustion engine (ICE). Solar pumps are useful where grid electricity is unavailable and alternative sources (in particular wind) do not provide sufficient energy.

LPI (LP Information)' newest research report, the “Photovoltaic Pump Industry Forecast” looks at past sales and reviews total world Photovoltaic Pump sales in 2022, providing a comprehensive analysis by region and market sector of projected Photovoltaic Pump sales for 2023 through 2029. With Photovoltaic Pump sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Photovoltaic Pump industry.

This Insight Report provides a comprehensive analysis of the global Photovoltaic Pump landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Photovoltaic Pump portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Photovoltaic Pump market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Photovoltaic Pump and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Photovoltaic Pump.

The global Photovoltaic Pump market size is projected to grow from US$ 712.3 million in 2022 to US$ 1086.9 million in 2029; it is expected to grow at a CAGR of 1086.9 from 2023 to 2029.

India is the largest Photovoltaic Pump market with about 37% market share. Europe and China are follower, accounting for about 42% market share.

The key players are LORENTZ, Grundfos, CRI Group, Mono Pumps, Shakti Solar, Tata Power, Bright Solar, USL, Advanced Power, SAJ, Chinalight Solar, CEEG, Quoncion Solar, Komaes Solar, Solartech, MNE, Evergreen Group etc. Top 3 companies occupied about 34% market share.

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

Market Segmentation:

Segmentation by type

DC Surface Suction

AC Submersible

DC Submersible

AC Floating

Segmentation by application

Living Water

Agrirculture

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

LORENTZ

Grundfos

CRI Group

Mono Pumps

Shakti Solar

Tata Power

Bright Solar

USL

Advanced Power

SAJ

Chinalight Solar

CEEG

Quoncion Solar

Komaes Solar

Solartech

MNE

Evergreen Group

Key Questions Addressed in this Report

What is the 10-year outlook for the global Photovoltaic Pump market?

What factors are driving Photovoltaic Pump market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Photovoltaic Pump market opportunities vary by end market size?

How does Photovoltaic Pump break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.