Solar Power Pump Market Size to Witness Growth Acceleration During 2023-2029| JNTech, JISL, Tata Power Solar, Grundfos
The latest updated study from Market Intelligence Data on “Solar Power Pump Market (2023-2029)”, offers a precise analysis of the market covering all the essential information required by the new entrants as well as the existing players to gain a deeper insight into the market. This study provides information about the market size and revenue during the historic and forecasted period of 2023 to 2029. The report also offers regional wise segmentation and analysis of the global Solar Power Pump market for the study period.
A reliable market research and consulting company, has announced the publication of its most recent updated report on the Solar Power Pump Market. It offers a thorough analysis of Market Size (historical and forecast), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Active, Innovators, Start-ups, and Cutting Edge) that are anticipated to influence its future growth trajectory.
According to industry estimates the Solar Power Pump market growth is projected to expand between 12.2% CAGR during the 2023 to 2029 assessment period.
Key Players:
The industry report identifies the leading competitors and provides strategic industry analysis of the key market factors. The key market players such JNTech, JISL, Tata Power Solar, Grundfos, Lorentz, CRI Group, Shakti Pumps, Bright Solar.
Recent Developments
- In September 2021, Grundfos expanded its line of solar-powered submersible pumps with the introduction of the SQFlex Large. In response to the rising demand for solar energy pumps and the region’s varied weather, the firm increased its product line across Asia and the Pacific.
Global Solar Power Pump Market Segmentation:
Market Segmentation: By Type
DC Solar Pumps
AC Solar Pumps
Market Segmentation: By Application
Agriculture
Drinking Water
Others
Solar Pump Market Dynamics
Drivers
The rapidly increasing demand for solar pumps from the agriculture sector is one of the major factors boosting the solar pump market. This is attributable to the increasing adoption of renewable sources of energy, in order to reduce the dependency on fossil fuels for irrigation purposes, specifically in economies with huge agricultural yields, such as India, China, and several in Africa.
Restraints
The lack of awareness about solar pumps in rural areas is likely to hinder the growth of the solar pump market, to a certain extent during the forecast period. A lot of farmers and agricultural land owners are still unaware about solar technology and its ability to generate electricity. In addition, the ease of availability of electrical pumps, along with their lower maintenance costs, discourages farmers from shifting toward solar pumps. Therefore, such factors are likely to restrain the market growth in the coming years.
Regional Analysis/Insights:
The countries covered in this market report are North America(U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia, Switzerland, Netherlands, Turkey, Belgium, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific), South America(Brazil, Argentina, Rest of South America), Middle East and Africa (South Africa, Saudi Arabia, U.A.E, Israel, Egypt, and Rest of Middle East & Africa).
Regional Analysis:
Asia-Pacific was the highest revenue contributor to the market. Asia-Pacific solar pump market is analyzed across China, Japan, South Korea, Australia, and rest of Asia-Pacific. In Asia-Pacific, solar energy is widely used in generation of electricity for standalone systems and rural electrification. The growth of the Asia-Pacific solar pump market is driven by increase in government initiatives, such as Akshay Urja, which includes electrification of rural areas. These initiatives are expected to increase the demand for PV energy, as governments would distribute solar pump in rural areas. Such initiatives are expected to increase the demand for solar pump, and contribute toward the growth of the market.
Solar Power Pump Market Research Report Offers:
-Technical Market definition of the global Solar Power Pump market along with the analysis of different influencing factors like drivers, restraints, and opportunities.
-Extensive research on the competitive landscape of more than 25+ Global as well as regional companies
– Identification and analysis of micro and macro factors that are and will affect the growth of the market.
– A descriptive analysis of demand-supply gap, estimation and forecast in the global Solar Power Pump market.
– Statistical analysis of some significant economic factors
– Partner Identification in the Supply Chain
– Historical and estimated Pricing Analysis of the market considered as part of scope
Key Points Covered in Solar Power Pump Market Report:
Global Solar Power Pump Market Research Report
Section 1: Global Solar Power Pump Industry Overview
Section 2: Global Economic Impact on Solar Power Pump Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Solar Power Pump Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Solar Power Pump Market Forecast
…….and view more in complete table of Contents
Key Questions Answered in this Report
➡ What is the market size and growth rate of the global and regional market by various segments?
➡ Market size and growth rate of the market for selective countries?
➡ Which region or sub segment is expected to drive the market in the forecast period?
➡ What are the driving factors as well as restraints in the market growth?
➡ How the technological shift and disruptions are helping market to grow?
➡ Who are the key companies operating in the market?
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