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Global Solar Pumps Market to Grow at a CAGR of 34.03% During the Period 2016 - 2020; Finds New Report

Market Research Reports, Inc. has announced the addition of “Global Solar Pumps Market 2016 - 2020” research report to their website


Lewes, DE -- (SBWIRE) -- 03/29/2016 -- 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

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.

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