Global Solar Pump Growth Opportunities

Global Solar Pump Growth Opportunities

As Market Opportunities Improve, Incentives will Remain an Important Driver for the Adoption of Solar Pumps

RELEASE DATE
04-Aug-2021
REGION
Global
Research Code: K5AE-01-00-00-00
SKU: IA01625-GL-MT_25650
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Description

This Frost & Sullivan research service analyzes the global solar pumps market and provides information about total market revenue by analyzing key regions such as North America, Latin America, Europe, the Middle East and Africa (MEA), and Asia-Pacific (APAC). The study discusses major trends and the prevailing scenario across all regions. Demand for PV modules is rising as economies of scale can be achieved through their usage. Given the need to achieve optimization and adhere to emission regulations, significant market opportunities will arise for solar pump vendors.

The base year is 2020 and the forecast period runs through to 2025. Besides geographic segmentation, the study discusses the deployment of solar pumps in end-user sectors such as agriculture, power, water and wastewater, and food and beverage. Market growth drivers and restraints are examined along with the revenue share of the top participants. The study also offers recommendations that companies can act on to leverage the growth opportunities the market offers.

Frost & Sullivan observes that modern pumps can address many of the shortcomings of earlier models; for instance, performance limitations in terms of the pumps being used only if the water source was close to the surface. New pump models have been able to eliminate these drawbacks. Although reduced investments have impacted the market, the rising demand and the associated savings will result in increased deployment, especially in rural off-grid areas. Solar pumps also serve as a cleaner alternative to fossil fuel-driven pumps; moreover, these pumps play a key role in terms of regions' ability to meet potable water requirements and are an integral part of infrastructure-building activities in developing countries (water supply to communities, livestock, and irrigation, for example).

One of the main advantages of solar pumps is that they can be easily installed in areas with high solar insolation, including the developing countries of Africa, Latin America, Asia, and Southeast Asia. The ability to customize (by adding PV panes) to meet the growing need for power makes solar pumps ideal for use in these countries. On average, these pumps last for close to 8 years and incur nominal costs over their lifetime.
Key considerations when making a purchase decision include total dynamic head, design flow rate, and storage. A challenge seen across many regions is the lack of regulations, which results in counterfeit products.

Key Issues Addressed

  • Is the global market for solar pumps growing, stagnant, or registering negative growth? 
  • How is demand distributed across different end-user industries and who are the key stakeholders in the value chain? 
  • Which geography or end user is expected to attract more demand? 
  • What are some of the opportunity areas for users? 

Author: Krishnan Ramanathan

 

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Global Solar Pumps Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Product Definitions

Product Definitions (continued)

Product Definitions (continued)

Geographic Segmentation

Key Competitors

Key Growth Metrics

Distribution Channels

Solar Pumps versus Other Pump Technologies

Growth Drivers

Growth Restraints

Forecast Assumptions

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Product Type

Revenue Forecast by Region

Revenue Forecast Analysis by Region

Revenue Forecast by End-user Type

Revenue Forecast Analysis by End-user Type

Pricing Trends and Forecast Analysis

Lifetime Costs—Solar Pumps versus Diesel Pumps

Competitive Environment

Revenue Share of Top Participants

Revenue Share Analysis

Key Growth Metrics, North America

Revenue Forecast, North America

Revenue Forecast Analysis, North America

Revenue Forecast by End-user Type, North America

Revenue Forecast Analysis by End-user Type

Key Growth Metrics, Latin America

Revenue Forecast, Latin America

Revenue Forecast Analysis, Latin America

Revenue Forecast by End-user Type, Latin America

Revenue Forecast Analysis by End-user Type, Latin America

Key Growth Metrics, Europe

Revenue Forecast, Europe

Revenue Forecast Analysis, Europe

Revenue Forecast by End-user Type, Europe

Revenue Forecast Analysis by End-user Type, Europe

Key Growth Metrics, The Middle East and Africa

Revenue Forecast, The Middle East and Africa

Revenue Forecast Analysis, The Middle East and Africa

Revenue Forecast by End-user Type, the Middle East and Africa

Revenue Forecast Analysis by End-user Type, the Middle East and Africa

Key Growth Metrics, Asia-Pacific

Revenue Forecast, Asia-Pacific

Revenue Forecast Analysis, Asia-Pacific

Revenue Forecast Analysis, Asia-Pacific (continued)

Revenue Forecast by End-user Type, Asia-Pacific

Revenue Forecast by End-user Type, Asia-Pacific

Growth Opportunity 1: Alignment of Expansion Strategies with Incentives, 2020

Growth Opportunity 1: Alignment of Expansion Strategies with Incentives, 2020 (continued)

Growth Opportunity 2: Changing Scenario in the Power Industry, 2020

Growth Opportunity 2: Changing Scenario in the Power Industry, 2020 (continued)

Growth Opportunity 3: Solar Pumps in Irrigation, 2020

Growth Opportunity 3: Solar Pumps in Irrigation, 2020 (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

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This Frost & Sullivan research service analyzes the global solar pumps market and provides information about total market revenue by analyzing key regions such as North America, Latin America, Europe, the Middle East and Africa (MEA), and Asia-Pacific (APAC). The study discusses major trends and the prevailing scenario across all regions. Demand for PV modules is rising as economies of scale can be achieved through their usage. Given the need to achieve optimization and adhere to emission regulations, significant market opportunities will arise for solar pump vendors. The base year is 2020 and the forecast period runs through to 2025. Besides geographic segmentation, the study discusses the deployment of solar pumps in end-user sectors such as agriculture, power, water and wastewater, and food and beverage. Market growth drivers and restraints are examined along with the revenue share of the top participants. The study also offers recommendations that companies can act on to leverage the growth opportunities the market offers. Frost & Sullivan observes that modern pumps can address many of the shortcomings of earlier models; for instance, performance limitations in terms of the pumps being used only if the water source was close to the surface. New pump models have been able to eliminate these drawbacks. Although reduced investments have impacted the market, the rising demand and the associated savings will result in increased deployment, especially in rural off-grid areas. Solar pumps also serve as a cleaner alternative to fossil fuel-driven pumps; moreover, these pumps play a key role in terms of regions' ability to meet potable water requirements and are an integral part of infrastructure-building activities in developing countries (water supply to communities, livestock, and irrigation, for example). One of the main advantages of solar pumps is that they can be easily installed in areas with high solar insolation, including the developing countries of Africa, Latin America, Asia, and Southeast Asia. The ability to customize (by adding PV panes) to meet the growing need for power makes solar pumps ideal for use in these countries. On average, these pumps last for close to 8 years and incur nominal costs over their lifetime. Key considerations when making a purchase decision include total dynamic head, design flow rate, and storage. A challenge seen across many regions is the lack of regulations, which results in counterfeit products.--BEGIN PROMO--

Key Issues Addressed

  • Is the global market for solar pumps growing, stagnant, or registering negative growth 
  • How is demand distributed across different end-user industries and who are the key stakeholders in the value chain 
  • Which geography or end user is expected to attract more demand 
  • What are some of the opportunity areas for users 

Author: Krishnan Ramanathan

 

More Information
Author Krishnan Ramanathan
GPS Codes 95,939,420
Industries Industrial Automation
No Index No
Is Prebook No
Podcast No
WIP Number K5AE-01-00-00-00