The use of vitality has grown over the past decade, followed by the development of interest in population vitality and strength. In addition, the change in climatic conditions due to an increase in temperature all over the Earth is boosting the attractiveness of the vitality of the place, which is expected to lead to the development of the market during the estimated period (2020-2025). . Interest in elective sources of vitality has grown and many techniques are being studied to create power through elective sources of vitality that are inexhaustible and manageable to meet the demands of vitality in place. The age of the sun is seen as the source of vitality that can be harnessed and should be the source of vitality which would be gradually accessible. In addition, 40% of the absolute age of sustainable energy source in the United States is expected to be accessible by 2040 at the age of the sun in any case from a pitiful 8% that has been produced from 2018. A solar pump consists of a pump and a photovoltaic panel which has semiconductors. When this panel is exposed to the sun, it generates current and helps pump water. Solar pumps have a wide range of applications, from home to agriculture and irrigation.
The continued expansion of agriculture, the need for other water-intensive industries, coupled with growing support from the government, are the main expansion driver of the solar pump market. Due to the industry shift towards eco-friendly features, the call for solar pumps from North America is escalating, which is a secondary factor driving the expansion of this market.
Lack of awareness of solar pumps in rural areas is likely to hamper the growth of solar pump market, to some extent during the forecast period. Many farmers and farmland owners are still unaware of solar technology and its ability to generate electricity. In addition, the simplicity of availability of electric pumps, coupled with their lower maintenance costs, discourages farmers from switching to solar pumps. Hence, these factors are likely to restrain the growth of the market in the coming years.
The government is aiming to reduce conventional energy resource reliance and emphasis renewable energy generation all around the region. Also, the government increasing favourable incentives to encourage the installations of solar water pumps is also boosting the market in the world.
However, it is imperative to note that there are also some challenges associated with incorporating and using solar pumps. A study concludes that the financial situation of small farmers and the accessibility to high quality products and services remain among the main problems in several countries. In addition, the lack of basic knowledge about the configuration and functions of solar pumps has created challenges in daily operations and maintenance.
Solar Pumps Market Segmented By Capacity
Solar Pumps Market Segmented By Product Type
DC suction dominated the market, accounting for more than 80% of the market in 2020. The increase in the drip irrigation business, especially in developing countries in Asia-Pacific, is predicted to drive pumps by solar energy during the foreseen period mentioned above. AC submersible pumps are predicted to experience the highest expansion rate during the foreseen period. Escalating call for higher-efficiency solar pumps, especially in developing countries of India and Bangladesh, is predicted to drive call for AC submersible pumps during the foreseen period.
Agriculture was the dominant application category, accounting for 60% of the total market in 2020. Increased agricultural activities coupled with the water needed for irrigation is predicted to boost 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 expansion of the solar pump market during the foreseen period.
Energy use related to the use of fossil fuels to generate electricity had been the highest, with coal use accounting for over 55% of all electricity produced in the United States contribute about 16 percent of electricity production in the year. 2019, which could reach 30% by 2040 in the United States. Hydroelectricity, wind power, and biomass have contributed to the majority of the energy produced in the United States and have helped to drastically reduce levels of greenhouse gas emissions, hydroelectric power being relatively cheaper to consume. In 2019, fossil fuels are the primary source of energy consumed in the United States and account for approximately 83% of the energy consumed in the United States Canada contributed approximately 7% of global gas production. Natural. In addition, Canada recorded 30.4 million MWh of electricity generated from hydropower generation in 2019. It is estimated that the increase in the number of measures adopted to adopt alternative and sustainable energy sources will have a positive impact on the growth of the North America Solar Water Pump Systems Market during the forecast period.
The key players operating in the global solar water pumps market are Lorentz (Germany), C. R. I. Pumps Private Limited (India), Tata Power Solar Systems Ltd (India), Shakti Pumps (India) Ltd (India), Wenling Jintai Pump Factory Limited (China), Bright Solar Limited (India), Grundfos (Denmark), Symtech Solar (Oman), PhotonSolar.com (Australia), Urja Global Limited (India), and Kavita Solar Energy Private Limited (India).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 DC Surface Suction
5.1.3 AC Submersible
5.1.4 DC Submersible
5.1.5 AC Floating
5.1.6 Y-o-Y Growth Analysis, By Product
5.1.7 Market Attractiveness Analysis, By Product
5.1.8 Market Share Analysis, By Product
5.2.3 Drinking Water
5.2.4 Y-o-Y Growth Analysis, By Application
5.2.5 Market Attractiveness Analysis, By Application
5.2.6 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
18.104.22.168 By Application
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Application
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
18.104.22.168 By Application
6.2 United States
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.4 Bright Solar
8.6 TATA Power Solar Systems Ltd.
8.7 Shakti Pumps
8.8 CRI Pumps
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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