Increasing development in the industrial, residential and agricultural industry along with lower operation and maintenance cost, the demand for global solar pumps market is rapidly escalating. Solar Pump runs on electricity produced by thermal energy or photovoltaic panels. It has a life span of 16 years. These solar pumps are independent of diesel and electricity, therefore, ensuring people in remote areas the long term benefits resulting in higher efficiency and productivity. These pumps are also known as Solar PV water pumping system. They are useful where grid electricity is unreachable and alternate sources do not provide adequate energy.

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This market is segmented on the basis of product and application. By product it is categorized into AC Submersible, DC Surface Suction, DC Submersible, and AC Floating. DC suction commanded the market accounting for over 80% of the market in 2014. Rising drip irrigation activities especially in developing countries of Asia Pacific and the Middle East & Africa is anticipated to drive solar powered DC suction pumps over the aforementioned forecast period. AC submersible pumps are anticipated to witness the highest growth rate over the aforementioned forecast period. Rising demand for higher efficiency solar pumps especially in developing countries of India and Bangladesh is anticipated to drive the demand for AC submersible pumps over the aforementioned forecast period.

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By geography, the global Solar Pumps market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific commanded the market and accounting for over 30% of total market volume in 2013. Rising government subsidies and reduction of fossil fuel import for agricultural activities is anticipated to drive solar pump market in this region over the aforementioned forecast period. Growing agricultural activities along with growing government subsidies in the form of financial incentives is anticipated to drive solar pumps market in Asia Pacific. Countries in this region like China, India, Bangladesh, and Pakistan are major agricultural regions with abundant availability of solar energy. The Middle East & Africa is also witnessing significant growth over the aforementioned forecast period. The shift in trend towards decreasing dependency on importing fossil fuels in the form of diesel and butane for their major needs for energy to generate electricity for agriculture and drinking water.

Key players in this market are Lorentz, Grundfos, Shakti Pumps, CRI Pumps, TATA Power Solar Systems Ltd., USL, SunEdison, and Bright Solar.

Market Segmentation

1)Product
• Introduction
• DC Surface Suction
• AC Submersible
• DC Submersible
• AC Floating
• Y-o-Y Growth Analysis, By Product
• Market Attractiveness Analysis, By Product
• Market Share Analysis, By Product

2)Application
• Introduction
• Agriculture
• Drinking Water
• Y-o-Y Growth Analysis, By Application
• Market Attractiveness Analysis, By Application
• Market Share Analysis, By Application

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