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Solar Pumps Market Report by Type (Submersible, Surface, Floating), Capacity (Below 4HP, 4-6 HP, 6-8 HP, Above 8 HP), Application (Agriculture, Water Treatment, and Others), and Region 2024-2032
Market Report I 2024-04-08 I 137 Pages I IMARC Group
The global solar pumps market size reached US$ 2.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.9 Billion by 2032, exhibiting a growth rate (CAGR) of 7.2% during 2024-2032. Rising environmental consciousness, the widespread product usage in the agricultural and allied sectors, and extensive research and development (R&D) activities for introducing more effective product variants represent some of the key factors driving the market.
Solar pumps are devices driven by the electricity generated from the photovoltaic (PV) panels. They also operate by converting radiant heat produced from the accumulated sun rays (photons). They usually create the direct current (DC) that enables the motor to pump water, and it further generates alternating current when the inverter is being utilized to operate the machine. As compared to conventional water pumps, they are more eco-friendly, flexible, easier to install, consistent, economical, simple to maintain, and offer superior reliability at minimal operational expenses. Apart from this, solar pumps do not require electricity to perform, increase productivity by saving time, minimize the labor requirements and the need for external power, and offer longer operating life. As a result, solar pumps are extensively used in several agricultural, water management, and household applications. At present, they are commercially available in varying product variants and capacities.
Solar Pumps Market Trends:
The significant enhancements in the agriculture sector, along with the increasing need for water management supply solutions for crop irrigation and community water distribution, are some of the prime factors driving the market toward growth. Additionally, the escalating environmental concerns and the rising consumer awareness regarding the detrimental effects of using non-renewable resources are facilitating product demand in the market growth. This is further attributed to the enforcement of stringent green regulations by governments to minimize the reliance on fossil fuels, such as coal, and diesel and reduce greenhouse gas (GHG) emissions. Furthermore, the shifting consumer inclination towards clean, renewable energy sources has further encouraged regulatory bodies to subsidies solar energy usage across multiple industrial and residential infrastructures, which is acting as another growth-inducing factor. In line with this, the growing electrification in rural areas and the fueling water need for deep well plumbing and livestock watering applications have intensified the uptake of solar pumps in remote locations to draw water from reservoirs while ensuring minimum wastage. This, in turn, is contributing to the market growth. Other factors, such as the recent development of advanced solar pumps by key players through strategic collaborations and the increasing awareness regarding their benefits, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global solar pumps market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on type, capacity and application.
Type Insights:
Submersible
Alternating current (AC)
Direct current (DC))
Surface
Alternating current (AC)
Direct current (DC))
Floating
The report has also provided a detailed breakup and analysis of the solar pumps market based on the type. This includes submersible [alternating current (AC) and direct current (DC)], surface [alternating current (AC) and direct current (DC)] and floating. According to the report, submersible represented the largest segment.
Capacity Insights:
Below 4HP
4-6 HP
6-8 HP
Above 8 HP
A detailed breakup and analysis of the solar pumps market based on the capacity has also been provided in the report. This includes below 4HP, 4-6 HP, 6-8 HP, and above 8 HP. According to the report, below 4HP accounted for the largest market share.
Application Insights:
Agriculture
Water Treatment
Others
The report has also provided a detailed breakup and analysis of the solar pumps market based on the application. This includes agriculture, water treatment, and others. According to the report, agriculture represented the largest segment.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Asia Pacific was the largest market for solar pumps. Some of the factors driving the Asia Pacific solar pumps market included the significant expansion in the agriculture sector, extensive research and development (R&D) activities, and the introduction of more effective product variants.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global solar pumps market. Detailed profiles of all major companies have also been provided. Some of the companies covered includes Alpex Solar Pvt. Ltd., Aquasub Engineering, Bright Solar Limited, C.R.I. Pumps Private Limited, Crompton Greaves Consumer Electricals Limited, Duke Plasto Technique Private Limited, KSB SE & Co. KGaA, Oswal Pumps Ltd., Rainbow Power Company Ltd., SAMKING Solar Pump, Shakti Pumps India Limited, Solar Power & Pump Company LLC, Tata Power Solar Systems Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the global solar pumps market in 2023?
2. What is the expected growth rate of the global solar pumps market during 2024-2032?
3. What are the key factors driving the global solar pumps market?
4. What has been the impact of COVID-19 on the global solar pumps market?
5. What is the breakup of the global solar pumps market based on the type?
6. What is the breakup of the global solar pumps market based on the capacity?
7. What is the breakup of the global solar pumps market based on the application?
8. What are the key regions in the global solar pumps market?
9. Who are the key players/companies in the global solar pumps market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar Pumps Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Submersible
6.1.1 Market Trends
6.1.2 Key Segments
6.1.2.1 Alternating Current (AC)
6.1.2.2 Direct Current (DC)
6.1.3 Market Forecast
6.2 Surface
6.2.1 Market Trends
6.2.2 Key Segments
6.2.2.1 Alternating Current (AC)
6.2.2.2 Direct Current (DC)
6.2.3 Market Forecast
6.3 Floating
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Capacity
7.1 Below 4 HP
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 4-6 HP
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 6-8 HP
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Above 8 HP
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Agriculture
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Water Treatment
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
10.1 Overview
10.2 Drivers
10.3 Restraints
10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Alpex Solar Pvt. Ltd.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Aquasub Engineering
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Bright Solar Limited
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 C.R.I. Pumps Private Limited
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Crompton Greaves Consumer Electricals Limited
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.6 Duke Plasto Technique Private Limited
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 KSB SE & Co. KGaA
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Oswal Pumps Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Rainbow Power Company Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 SAMKING Solar Pump
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Shakti Pumps India Limited
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.12 Solar Power & Pump Company LLC
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.13 Tata Power Solar Systems Limited
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Figure 1: Global: Solar Pumps Market: Major Drivers and Challenges
Figure 2: Global: Solar Pumps Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Solar Pumps Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Solar Pumps Market: Breakup by Type (in %), 2023
Figure 5: Global: Solar Pumps Market: Breakup by Capacity (in %), 2023
Figure 6: Global: Solar Pumps Market: Breakup by Application (in %), 2023
Figure 7: Global: Solar Pumps Market: Breakup by Region (in %), 2023
Figure 8: Global: Solar Pumps (Submersible) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Solar Pumps (Submersible) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Solar Pumps (Surface) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Solar Pumps (Surface) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Solar Pumps (Floating) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Solar Pumps (Floating) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Solar Pumps (Below 4 HP) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Solar Pumps (Below 4 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Solar Pumps (4-6 HP) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Solar Pumps (4-6 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Solar Pumps (6-8 HP) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Solar Pumps (6-8 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Solar Pumps (Above 8 HP) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Solar Pumps (Above 8 HP) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Solar Pumps (Agriculture) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Solar Pumps (Agriculture) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Solar Pumps (Water Treatment) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Solar Pumps (Water Treatment) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Solar Pumps (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Solar Pumps (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: North America: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: North America: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: United States: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: United States: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Canada: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Canada: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Asia-Pacific: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Asia-Pacific: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: China: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: China: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Japan: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Japan: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: India: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: India: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: South Korea: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: South Korea: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Australia: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Australia: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Indonesia: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Indonesia: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Others: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Others: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Europe: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Europe: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Germany: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Germany: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: France: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: France: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: United Kingdom: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: United Kingdom: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Italy: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Italy: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Spain: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Spain: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Russia: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Russia: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Others: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Others: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Latin America: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Latin America: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Brazil: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Brazil: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Mexico: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Mexico: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Others: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Others: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Middle East and Africa: Solar Pumps Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Middle East and Africa: Solar Pumps Market: Breakup by Country (in %), 2023
Figure 76: Middle East and Africa: Solar Pumps Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Global: Solar Pumps Industry: Drivers, Restraints, and Opportunities
Figure 78: Global: Solar Pumps Industry: Value Chain Analysis
Figure 79: Global: Solar Pumps Industry: Porter's Five Forces Analysis
Table 1: Global: Solar Pumps Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Solar Pumps Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: Solar Pumps Market Forecast: Breakup by Capacity (in Million US$), 2024-2032
Table 4: Global: Solar Pumps Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Solar Pumps Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Solar Pumps Market: Competitive Structure
Table 7: Global: Solar Pumps Market: Key Players
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