Global solar pump market is segmented on the basis of, types of pump, power rating of pumps, application and by region/country. On the basis of Power Rating, they are segmented into Upto 3HP, 3.1 HP – 10 HP and Above 10 HP. By Type of solar pump, the market is segmented as DC surface suction solar pumps, AC submersible solar pumps, DC submersible solar pumps and AC floating solar pumps. Further the market is segmented on the basis of End Use such as agriculture, water management and others. The key regions covered in the report are North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The market size of global solar pump market is estimated for 2016 and forecasted from 2017 to 2023 in terms of value (USD million) across various countries.
The companies which lead the solar pump market are American West Windmill & Solar Company, Bright Solar Water Pumps, CRI Group, Lorentz, Shakti Solar Pumping System, SunEdison, Solar Power & Pump Co., LLC, Tata Power Solar Systems Ltd., Rainbow Power Co., Ltd.Grundfos, USL and Wenling Jintai Pump Factory among others.
Solar pumps have proved to be a boon especially for agriculture sector as it can be easily installed in the remote areas where no electricity is found. They are easy to operate and can work for longer duration without any disturbance. Developed as well as developing nations are continuously in the process of using solar pumps for various purposes such as agriculture, industrial and domestic. Solar being a renewable source of energy, is easily available in abundance. Hence, it reduces the dependence on conventional fuels such as coal and natural gas. Also, it does not emit any carbon footprints into the atmosphere, thus high application of solar pumps has been witnessed all across the globe. Subsidies and financial incentives by the Government of various countries boosts the demand for solar pumps.