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Solar Pumps Market: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2027)

Solar Pumps Market: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2027)

The US$ 822.0 Mn solar pumps market is presumed to attain revenues of over US$ 2,000.0 Mn during the 10-year assessment period. In terms of volume, the consumption of solar pumps is anticipated to reach beyond 490 thousand units by the end of 2027. Over the forecast period 2017-2027, the global market for solar pumps is expected to foster at a stellar CAGR of 11.7% in terms of value.

India all set to outpace MEA and China in terms of growth rate

Geographical assessment of the global solar pumps market reveals in-depth scenario of each regional market. India will turn out to be the most lucrative market for solar pump manufacturers over the forecast period. Despite being the third largest regional market for solar pumps after MEA and China, India is anticipated to witness fostered adoption compared to others. As a result, India is expected to be the fastest growing region with an estimated CAGR of over 15% during 2017-2027. China, the second largest region with over 17% revenue share registered in 2017, will see healthy growth in the next decade at a CAGR value almost similar to that of Japan and Eastern Europe. While MEA will remain the top market for solar pumps, it is foreseen to follow India in terms of CAGR. Western Europe and North America will follow steady growth at a single-digit CAGR, whereas Eastern Europe will exhibit robust growth at a CAGR of over 11%. SEAP is identified to be emerging as a highly lucrative market for solar pumps with a projected CAGR of more than 12%.

Governmental policies to underpin robust market growth in India

High upfront capital costs and relatively lower awareness among farmer communities have been the major barriers impacting the market performance over the years. However, since the recent past, agricultural sector has become a key consumer of solar pumps, attributed to attractive government schemes proposed for farmers and growing affordability of solar pumps. Favorable government initiatives are identified to provide a thrust to pronounced adoption of solar pumps across developing Asian countries, including India. Bolstering demand from water-intensive industries will remain one of the key factors positively influencing the market growth in this region. In addition, tax and subsidy benefits as a result of growing support from the government to renewable energy projects is expected to be a significant factor in shaping the future of solar pumps sales in India. To be more specific, South India will experience a larger share, followed by North India and West India. Irrigation to remain top consumer of solar pumps – globally and in India

In terms of application, irrigation has been the top application generating substantial demand for solar pumps on a global level. Irrigation is projected to remain a dominant application throughout the forecast period. While adoption of solar pumps for irrigation purpose will continue at a rapid pace all over the globe, a large number of farmer communities in India are also expected to embrace deployment of solar powered pumps for irrigation. Advancing agricultural technologies and increasing efforts for water conservation at ground level will collectively fuel the opportunities for solar powered pumps used for irrigation application across India. While the government is providing direct subsidies for promoting deployment of solar pumps, several NGOs such as The Sehgal Foundation, through combined investment of farmers, have preferred to pilot solar pump initiatives in different parts of India. In a bid to support and encourage large-scale deployment of solar pumps in near future, the government is providing farmers with an interest-subsidy along with reduced capital-subsidy.

Jain Irrigation, Shakti Pump, CRI Pumps, Tata Power Solar, and Kirloaskar Brothers are a few of the key players participating in the Indian as well as global solar pumps market. Recently, Denmark-based Grundfos Group has announced the launch of its new plant in Gujrat so as to expand in India and amplify the global market footprint.


1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
2.3. Analyst Credentials
2.4. About FMI
3. Solar Pumps Market Background
3.1. Macro-Economic Factors
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Trends
3.3. Value Chain Analysis
3.4. Opportunity Analysis
3.5. Forecast Factors – Relevance & Impact
4. Global Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
4.1. Market Volume Projections
4.2. Pricing Analysis
4.3. Market Size Projections
4.3.1. Y-o-Y Projections
4.3.2. Absolute $ Opportunity Analysis
5. Global Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027, by Capacity
5.1. Introduction
5.1.1. Market Value Share Analysis By Capacity
5.1.2. Y-o-Y Growth Analysis By Capacity
5.2. Historical Market Size (US$ Mn) and Volume By Capacity, 2013–2017
5.3. Market Size (US$ Mn) and Volume Forecast By Capacity, 2017-2027
5.3.1. Below 5 HP
5.3.2. 5 HP
5.3.3. 5-8 HP
5.3.4. Above 8 HP
5.4. Market Attractiveness Analysis By Capacity
6. Global Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027, by Type
6.1. Introduction
6.1.1. Market Value Share Analysis By Type
6.1.2. Y-o-Y Growth Analysis By Type
6.2. Historical Market Size (US$ Mn) and Volume By Type, 2013–2017
6.3. Market Size (US$ Mn) and Volume Forecast By Type, 2017-2027
6.3.1. Submersible
6.3.1.1. Alternating Current (AC)
6.3.1.2. Direct Current (DC)
6.3.2. Surface
6.3.2.1. Alternating Current (AC)
6.3.2.2. Direct Current (DC)
6.4. Market Attractiveness Analysis By Type
7. Global Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027, by Application
7.1. Introduction
7.1.1. Market Value Share Analysis By Type
7.1.2. Y-o-Y Growth Analysis By Type
7.2. Historical Market Size (US$ Mn) and Volume By Application, 2013–2017
7.3. Market Size (US$ Mn) and Volume Forecast By Application, 2017-2027
7.3.1. Irrigation
7.3.2. Drinking Water
7.3.3. Industry
7.3.4. Other
7.4. Market Attractiveness Analysis By Application
8. Global Solar Pumps Market Analysis and Forecast, By Region
8.1. Introduction
8.1.1. Market Value Share Analysis By Region
8.1.2. Y-o-Y Growth Analysis By Region
8.2. Historical Market Size (US$ Mn) and Volume By Region, 2013–2017
8.3. Market Size (US$ Mn) and Volume Forecast By Region, 2017-2027
8.3.1. India
8.3.2. North America
8.3.3. Latin America
8.3.4. Western Europe
8.3.5. Eastern Europe
8.3.6. South East Asia & Pacific
8.3.7. China
8.3.8. Japan
8.3.9. Middle East & Africa
8.4. Market Attractiveness Analysis By Region
9. India Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
9.1. Introduction
9.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
9.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
9.3.1. By Capacity
9.3.2. By Type
9.3.3. By Application
9.4. Market Attractiveness Analysis
9.4.1. By Capacity
9.4.2. By Type
9.4.3. By Application
9.5. Drivers and Restraints: Impact Analysis
9.6. Key Participants Market Presence Intensity Mapping
10. North America Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
10.1. Introduction
10.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
10.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
10.3.1. By Country
10.3.1.1. U.S.
10.3.1.2. Canada
10.3.2. By Capacity
10.3.3. By Type
10.3.4. By Application
10.4. Market Attractiveness Analysis
10.4.1. By Country
10.4.2. By Capacity
10.4.3. By Type
10.4.4. By Application
10.5. Drivers and Restraints: Impact Analysis
10.6. Key Participants Market Presence Intensity Mapping
11. Latin America Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
11.1. Introduction
11.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
11.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
11.3.1. By Country
11.3.1.1. Brazil
11.3.1.2. Mexico
11.3.1.3. Rest of Latin America
11.3.2. By Capacity
11.3.3. By Type
11.3.4. By Application
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Capacity
11.4.3. By Type
11.4.4. By Application
11.5. Drivers and Restraints: Impact Analysis
11.6. Key Participants Market Presence Intensity Mapping
12. Western Europe Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
12.1. Introduction
12.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
12.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
12.3.1. By Country
12.3.1.1. Germany
12.3.1.2. Italy
12.3.1.3. France
12.3.1.4. U.K.
12.3.1.5. Spain
12.3.1.6. Benelux
12.3.1.7. Rest of Western Europe
12.3.2. By Capacity
12.3.3. By Type
12.3.4. By Application
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Capacity
12.4.3. By Type
12.4.4. By Application
12.5. Drivers and Restraints: Impact Analysis
12.6. Key Participants Market Presence Intensity Mapping
13. Eastern Europe Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
13.1. Introduction
13.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
13.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
13.3.1. By Country
13.3.1.1. Poland
13.3.1.2. Hungary
13.3.1.3. Rest of Eastern Europe
13.3.2. By Capacity
13.3.3. By Type
13.3.4. By Application
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Capacity
13.4.3. By Type
13.4.4. By Application
13.5. Drivers and Restraints: Impact Analysis
13.6. Key Participants Market Presence Intensity Mapping
14. South East Asia & Pacific Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
14.1. Introduction
14.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
14.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
14.3.1. By Country
14.3.1.1. China
14.3.1.2. India
14.3.1.3. Australia and New Zealand
14.3.1.4. ASEAN
14.3.1.5. Rest of APAC
14.3.2. By Capacity
14.3.3. By Type
14.3.4. By Application
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Capacity
14.4.3. By Type
14.4.4. By Application
14.5. Drivers and Restraints: Impact Analysis
14.6. Key Participants Market Presence Intensity Mapping
15. China Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
15.1. Introduction
15.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
15.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
15.3.1. By Capacity
15.3.2. By Type
15.3.3. By Application
15.4. Market Attractiveness Analysis
15.4.1. By Capacity
15.4.2. By Type
15.4.3. By Application
15.5. Drivers and Restraints: Impact Analysis
15.6. Key Participants Market Presence Intensity Mapping
16. Middle East & Africa Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
16.1. Introduction
16.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
16.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
16.3.1. By Country
16.3.1.1. GCC Countries
16.3.1.2. South Africa
16.3.1.3. North Africa
16.3.1.4. Rest of MEA
16.3.2. By Capacity
16.3.3. By Type
16.3.4. By Application
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Capacity
16.4.3. By Type
16.4.4. By Application
16.5. Drivers and Restraints: Impact Analysis
16.6. Key Participants Market Presence Intensity Mapping
17. Japan Solar Pumps Market Analysis 2017–2027 and Forecast 2017–2027
17.1. Introduction
17.2. Historical Market Size (US$ Mn) and Volume By Market Segments, 2013–2017
17.3. Market Size (US$ Mn) and Volume Forecast By Market Segments, 2017-2027
17.3.1. By Capacity
17.3.2. By Type
17.3.3. By Application
17.4. Market Attractiveness Analysis
17.4.1. By Capacity
17.4.2. By Type
17.4.3. By Application
17.5. Drivers and Restraints: Impact Analysis
17.6. Key Participants Market Presence Intensity Mapping
18. Competition Analysis
18.1. Market Structure Analysis
18.2. Market Share Analysis
18.3. Competition Dashboard
18.4. Competition Profiles
18.4.1. Schnieder Electric
18.4.2. Grundfos
18.4.3. Jain Irrigation Systems Ltd.
18.4.4. Tata Power Solar
18.4.5. Kirloskar Brothers Limited
18.4.6. Shakti Pumps India Limited
18.4.7. Bernt Lorentz GmbH & Co. KG
18.4.8. CRI Pumps
18.4.9. Claro Energy Private Limited
18.4.10. Waaree Energies Ltd.
18.4.11. Zhejiang Taifu Pump Company Ltd.
18.4.12. Yozeal New Energy Technology Co.,Ltd
18.4.13. Greenmax Technology
18.4.14. PM PumpMakers GmbH
18.4.15. Solar Power & Pump Company

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