Solar Pumps Market to grow at 29.54 % CAGR during the forecast period.
Solar Pumps Market - Key Trends, dynamics, Key Companies competition, and Latest Key Acquisitions and Mergers.
A reputable provider of business research and consulting services, Maximize Market Research, projects that the global market for Solar Pumps to grow at 29.54 % CAGR during the forecast period.
In-depth information on the market's size, rate of growth, revenue, trends, and potential is provided in the market research study on the Solar Pumps market, along with a forecast for the years up to 2029. The main variables affecting the growth of this sector have also been thoroughly examined. The market has been thoroughly quantitatively analysed for this study, and the findings can be used to establish policies that will boost productivity and growth.
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Solar Pumps Market Overview:
The in-depth corporate business research of the Solar Pumps market concentrates on the Solar Pumps industry's most recent drivers, restraints, and opportunities. Followed by discussions with esteemed businesses to corroborate the results. In the secondary evaluation and analysis of the same, free and paid data sources are both utilised. Information on the supply and consumption of each player is compiled using reliable data sources, official government sources, and, in the case of publicly traded firms, financial reports of the company. Even if financial documents aren't generally accessible to the public, the local government's tax division may be able to seek them from businesses.
COVID-19 Impact:
By examining the existing and potential consequences of the COVID-19 pandemic on the whole market, the analysis delivers more accurate and true estimations in accordance with the market reality. Distress is being caused by the coronavirus spread all around the world. Almost all countries have implemented strict social segregation policies, like lockdowns. This has led to extensive supply disruptions. The global epidemic has altered social structures everywhere. The COVID-19 has an effect on the market as a whole, and in 2019 and 2020, that effect will increase along with the rate of growth. In order to provide decision-makers with reliable data and experiences, the COVID-19 incident has compelled businesses and organisations to manage risk and digitise operations. This is consistent with the most recent MMR analyses, studies, and recommendations on management issues that are crucial for businesses and organisations and have a big market impact.
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Solar Pumps Market Key players:
• PM Pumpmakers GmbH
• Mono
• Megawatt New Energy
• Solar Online
• Dankoff Solar Pumps
• Lorentz Technology
• Polysolar
• Franklin Electric
• Tata Power Solar
• Greenmax Technololgy
• Sun Pumps
• Shenzhen Sacred
• Bodisun New Energy
• Sun Edison
• Jain Irrigation
• Shakti Pump
• CRI Pumps
• Tata Power Solar
• Kirloaskar Brothers
• Schnieder Electric
• Grundfos
• Bernt Lorentz GmbH & Co. KG
• Claro Energy Private Limited
• Waaree Energies Ltd.
• Zhejiang Taifu Pump Company Ltd.
• Yozeal New Energy Technology Co.,Ltd
• PM Pump Makers GmbH
• Solar Power & Pump Company
• SunEdison
• Rainbow Power Co., Ltd.
• Wenling Jintai Pump Factory
• American West Windmill & Solar Company
• Bright Solar Water Pumps
• USL
• GrundfoS
Key company and market share insights:
The top competitors are mentioned here for the benefit of the audience. The report examines the crucial strategic actions big businesses take to maintain market dominance, including product portfolio strengthening, M&A, partnerships, new, innovative products, and geographic expansion. Along with significant financial information, the report also includes newsworthy information and the company's goals. The companies' global sales, earnings, and profit margins from 2017 through 2022 are also available to users.
Solar Pumps Market Dynamics:
DC surface suction is the leading product for solar pumps and accounted for three fourth of total solar pumps market in 2017. Increasing drip irrigation activities particularly in emerging economies of Asia Pacific is expected to drive solar powered DC suction pumps over the forecast period. While AC submersible pumps is foreseen to witness the highest growth rate over the forecast period. Escalating demand for greater efficiency solar pumps particularly in emerging economies of India is predicted to drive the demand for AC submersible pumps during the forecast period. AC submersible pumps are especially designed to pump groundwater from deeper wells or boreholes where DC suction pumps cannot be utilized.
Agriculture is dominant application segment of solar pumps and will remain dominant throughout the forecast. Increase in agricultural activities across globe coupled with water required for irrigation drives the agriculture application segment. Clean and continuous water supply is essential to remote place of various regions where electricity supply is a problem and operating diesel pumps is expensive.
Solar Pumps Market Segment:
Global Solar Pumps Market, By Product:
• DC Surface Suction
• AC Submersible
• DC Submersible
• AC Floating
Global Solar Pumps Market, By Application:
• Agriculture
• Drinking Water
Regional Analysis:
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Dec 02, 2022
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