Report forecast the global solar pumps market to
grow at a CAGR of 34.03% during the period 2016-2020.
A solar pump runs on electricity generated by a
solar PV array. The overall pump set is attached to the water source; the solar
panel converts the solar energy into electricity, thereby operating the motor
to pump water. These pumps eliminate the use of conventional fuel sources such
as diesel. Also, they prove to be a cost-effective option for pumping water,
especially in areas that face water scarcity and electricity shortage.
Some of the major types of solar pumps are surface,
submersible, and floating. These pumps are becoming more viable as their prices
decline with increasing competition in the market. In addition, subsidies
offered in various countries have also aided in lowering the costs of these
pumps.
The report covers the present scenario and the
growth prospects of the global solar pumps market for 2016-2020. To calculate
the market size, the report considers the the demand for solar pumps from
different end-users.
The market is divided into the following
segments based on geography:
- Americas
- APAC
- EMEA
According to the report, developing countries such
as China, India, and Bangladesh are taking measures to spread awareness about
the benefits of renewable energy such as solar pumps for irrigation purposes.
For instance, the Indian government is providing grants and subsidies to the
country's farmers to purchase solar water pumping systems. In January 2016, the
government announced an investment of $11 billion to set up solar pumps across
the country. Such initiatives not only facilitate in reducing the use of
conventional energy sources but also help in increasing the market penetration
of solar pumps in the developing countries.
Further, the report states that solar pumps have
high initial investment and negligible maintenance cost compared to diesel
pumps. Diesel pumps involve recurring service and maintenance costs with little
initial capital requirement. The high initial cost of solar pumps makes them
unaffordable to farmers.
Global Solar Pumps Market 2016-2020, has
been prepared based on an in-depth market analysis with inputs from industry
experts. The report covers the market landscape and its growth prospects over
the coming years. The report also includes a discussion of the key vendors
operating in this market.
key players in the Global Solar Pumps Market:
Bright Solar, LORENTZ, Shakti Pumps, SunEdison, and Tata Power Solar.
Other Prominent Vendors in the market are: Conergy,
CRI Group, Dankoff Solar, Flowserve, Greenmax Technology, Grundfos, Jain
Irrigation Systems, and USL.
Market driver
- Insufficient power supply in developing countries
- For a full, detailed list, view our report
Market challenge
- High initial investment
- For a full, detailed list, view our report
Market trend
- Demand for automated pump systems
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 53 pages and 20 Exhibit “Global
Solar Pumps Market 2016 - 2020” report covers Executive summary, Scope of the
report, Market research methodology, Introduction, Market landscape, Market
segmentation by end-user, Geographical segmentation, Key leading countries,
Market drivers, Impact of drivers, Market challenges, Impact of drivers and
challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For
more information Visit at: http://mrr.cm/Jwn
Find all Solar Power report at : http://www.marketresearchreports.com/solar-power
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