The Global Solar Pump Growth Opportunities report has been added to ResearchAndMarkets.com’s offering. This research analyses the global solar pumps market, and provides information about total market revenue by analysing key regions.
The study highlighted major trends and the prevailing scenario across all regions, and pointed out demand for PV modules is rising as economies of scale can be achieved through their usage. Given the need to achieve optimisation 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 explored 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.
The report also observed 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.
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 customise to meet the growing need for power makes solar pumps ideal for use in these countries. On average, these pumps last for close to eight 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.