Middle East And Africa Solar Pumps Market

Middle East And Africa Solar Pumps Market Size (2024-2029):

The Middle East And Africa Solar Pumps Market is expected to grow at a CAGR of 13.96% during the forecast period 2024-2029. The market value was at USD 0.18 billion in 2023, and the value is expected to reach USD 0.39 billion by the end of 2029.

MARKET DRIVERS

The continued expansion of agriculture, and the need for other water-intensive industries, coupled with growing support from the government, are the main expansion drivers of the solar pump market.

Due to the industry shift towards environmentally friendly characteristics, the call for solar pumps in the Middle East And Africa is increasing, which is a secondary factor driving the expansion of this market. A continuous clean water supply is needed for remote locations in various regions where electricity supply is a problem and diesel pump operation is expensive.

This factor is predicted to drive the solar pump market during the foreseen period, as these locations have great potential to harness renewable energy in the form of solar power. AC submersible pumps are predicted to experience the highest expansion rate during the foreseen period. An increasing call for higher-efficiency solar pumps, especially in the emerging economies of India and Bangladesh, is predicted to drive the call for AC submersible pumps during the foreseen period.

MARKET RESTRAINTS

But still, the high cost of capital, the unavailability of spare parts (on time), and after-sales services are the main problems that hamper the expansion of the market.

MARKET OPPORTUNITIES

With the increasing development of the industrial, residential, and agricultural industries, as well as the fall in operating and maintenance costs, the market call for solar pumps in the Asia Pacific is increasing rapidly. The solar pump works with electricity produced by thermal energy or by photovoltaic panels. It has a shelf life of 16 years, providing opportunities for the Asia Pacific market.

MARKET CHALLENGES

The high cost of capital, the unavailability of spare parts, and the after-sales service are the main problems that hinder the expansion of the market.

REPORT COVERAGE

SEGMENT ANALYSIS

Middle East And Africa Solar Pumps Market Analysis By Product

DC suction has dominated the market, accounting for more than 80% of the market in 2023. Increased drip irrigation business, especially in developing countries in the Asia Pacific, is predicted to lead to. solar energy for the anticipated period mentioned above. AC submersible pumps are predicted to experience the highest expansion rate during the predicted period. An increasing call for higher-efficiency solar pumps, especially in developing countries of India and Bangladesh, is predicted to drive the call for AC submersible pumps during the foreseen period.

Middle East And Africa Solar Pumps Market Analysis By Application

Agriculture was the dominant application category, accounting for 60% of the total market in 2023. Increased agricultural activities associated with water needed for irrigation are predicted to drive the market for solar pumps for this application. Government subsidies to solar pump farmers and manufacturers, especially in developing countries in Asia and the Pacific, are predicted to drive the expansion of the solar pump market during the foreseen period.

GEOGRAPHICAL ANALYSIS

The Middle East and Africa also experienced significant growth during the forecast period. The change in trend towards reducing dependence on imported fossil fuels in the form of diesel and butane as their primary energy required to generate electricity for agriculture and drinking water.

KEY PLAYERS IN THE MIDDLE EAST AND AFRICA SOLAR PUMPS MARKET

Companies playing a prominent role in the middle east and africa solar pumps market include Lorentz (Germany), C. R. I. Pumps Private Limited (India), Tata Power Solar Systems Ltd (India), Shakti Pumps Ltd (India), WenlingJintai Pump Factory Limited (China), Bright Solar Limited (India), Grundfos (Denmark) Symtech Solar (Oman), PhotonSolar.com (Australia), Urja Global Limited (India), Kavita Solar Energy Private Limited (India), and Others.

RECENT HAPPENINGS IN THE MIDDLE EAST AND AFRICA SOLAR PUMPS MARKET

• The Dubai Electricity and Water Authority (DEWA) welcomed the launch of its innovation center and the 800 MW third phase of the Mohammed bin Rashid Al Maktoum solar park. While DEWA's Innovation Center aims to be a global hub for innovation in renewable and clean energy. It will support innovation and creativity in clean and renewable energy, promote sustainability, develop Emirati talent, and strengthen the UAE's competitive advantage in this sector.
• Recently,  Trina Solar Co., Ltd. announced that it has signed an agreement with the Yemeni PV company Al Raebi for Trading Co. as an authorized dealer in Yemen. This agreement is a further commitment to Trina Solar's expansion plans and to increase its presence in the Middle East and Africa.

DETAILED SEGMENTATION OF THE MIDDLE EAST AND AFRICA SOLAR PUMPS MARKET IS INCLUDED IN THIS REPORT

This middle east and africa solar pumps market research report has been segmented and sub-segmented based on product, application and region.

By Product

• AC Submersible
• DC Surface Suction
• DC Submersible
• AC Floating

By Application

• Agriculture
• Drinking water

By Country

• Middle East
• Africa