Worldwide Latest Market Research Report on “Global Solar Water Pumps Market Size – Segmented by Product (DC Surface Suction, AC Submersible, DC Submersible AC Floating), By End User (Agriculture, Drinking Water Industrial), and Geography – Growth, Trends, and Forecast (2019 – 2023) 2019-2023”
The Global Solar Water Pumps market with CAGR of XX% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Solar Water Pumps by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Lorentz -SunEdison
- Inc. -C. R. I. Pumps Private Limited -Solar Power & Pump Company
- LLC -Tata Power Solar Systems Ltd. -Shakti Pumps (India) Ltd. -Wenling Jintai Pump Factory Limited -Bright Solar Limited -GRUNDFOS -Symtech Solar
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Overview of Solar Water Pumps Market:
The solar water pump market is estimated to witness a high growth rate during the forecast period, 2019-2023. Solar water pumps are increasingly used in the regions where grid electricity is not available. Use of solar energy to drive the pumps cut down the operating cost, which is majorly consumed in the form of diesel. Also, stringent government regulations to reduce carbon footprints have been one of the major reasons for the increasing adoption of solar water pumps. Government in countries, such as China, India, Bangladesh, Pakistan, Morocco, Kenya, Namibia, and Nigeria have introduced financial subsidies, tax policies, price policies, and funding activities that have driven the solar water pump market. The potential for solar water pump can be identified from the fact that in countries, like Bangladesh, which are heavily dependent on diesel-based water pumps can save 450 million liters of diesel and reduce emissions by one million ton of CO2 annually, if 50,000 solar irrigation pumps are installed.
Government Regulations and Incentives Driving the Solar Water Pumps Market
The installation costs of solar water pumps are usually high and the investment payback period is found to be 4-6 years. Government subsidies to farmers, as well as solar pump manufacturers, especially in emerging economies of Asia-Pacific are expected to drive the solar water pump market in the forecast period. For example. in India where the government has introduced a budget scheme in which the farmer has to pay only 10% cost of solar water pumps. The PV module costs have declined from 62 cents/W in 2015 to 33 cents/W in 2017, and is expected to further decrease with technological advancements in the coming years, and help to reduce the payback period and support the growth of the market.
Asia-Pacific Holds the largest Share in Solar Water Pumps Market
Asia-Pacific has emerged as the one of the largest solar pump market. The massive increase in power consumption in developing countries, such as China and India, with inadequate power generation capacity and grid infrastructure for irrigation and community water supply facilities, solar water pumps have a good chance of replacing the conventional pumps. Increasing awareness of the potential benefits of this technology has compelled a number of countries to accelerate the deployment of solar water pumps. For example, Bangladesh has set a target to deploy 50,000 solar pumps by 2025, India, 100,000 by 2020; and Morocco, 100,000 by 2022.
Bangladesh – A Huge Market Potential
The farmers in Bangladesh had to spend Tk 2,000 for irrigating one third of an acre of land with conventional diesel or electric water pumps every season. The increasing power demand and need for safe drinking water has led to the deployment of solar water pumps in the country. Infrastructure Development Company Ltd. (IDCOL), a financing company in Bangladesh, tried and tested ownership model, wherein microfinance has been used as a tool to enhance rural household’s ability to afford capital-intensive solar home systems- is being applied to solar pumping solutions. IDCOL has set itself a target to deploy 50,000 solar irrigation systems by 2025. Under the proposed agreement, IDCOL provides a combination of grant and credit to partner organizations to install and operate pumps.
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Reasons to Purchase Solar Water Pumps Market Report:
Current and future solar water pumps market outlook in the developed and emerging marketsAnalyzing various perspectives of the market with the help of Porter’s five forces analysisThe segment that is expected to dominate the marketRegions that are expected to witness fastest growth during the forecast periodIdentify the latest developments, market share, and strategies employed by the major market players3-month analyst support, along with the Market Estimate sheet in excel
The Global demand for Solar Water Pumps Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Solar Water Pumps Market highlights the following key factors:
- A complete informative analysis of Solar Water Pumps industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Solar Water Pumps Market shares and methods of key players in the Solar Water Pumps market.
- Current and predictable size of Solar Water Pumps market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Solar Water Pumps market.
Solar Water Pumps Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Solar Water Pumps Market players in detail. Solar Water Pumps Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Key Features of the Solar Water Pumps Market Report:
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- To supplement associations internal competing data gathering endeavors by giving vital investigation, information understanding, and knowledge.
- Five-year forecast measure would give a clear understanding of future growth.
- Investigation of upcoming and past market information will help in organizing an outline of current business strategies.
- Comprehensive information of market players will help understand consumer demands and market scope.
- Development opportunities and forecast buyer requests will evoke the collection of revenue.
- A comprehensive analysis of the changing competitive dynamics will keep you ahead of the competitors.
- The fresh proficient elements such as industry production study, revise product-launching events, growth and risk factors will help in the forecast feasibility analysis.
- To distinguish the slightest focused market specialties with huge development potential.
The growth of this market worldwide is subjected to various factors; including consumer world-class Solar Water Pumps Market of many Solar Water Pumps Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Solar Water Pumps Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Solar Water Pumps Market competitors.
Mr. Ajay More
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