Report Title – Global Solar Water Pumps Market Size – Segmented by Product (DC Surface Suction, AC Submersible, DC Submersible AC Floating), By End User (Agriculture, Drinking Water Industrial), and Geography – Growth, Trends, and Forecast (2019 – 2023)
“Solar Water Pumps Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Solar Water Pumps Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top Listed Players in Solar Water Pumps Market Research Report 2019-2023:
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Solar Water Pumps market reports provide a comprehensive overview of the worldwide market size and share. Solar Water Pumps market data reports also provide a 5-year historic, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to success of the organization.
Overview of Solar Water Pumps Market Report:
The solar water pump market is estimated to witness a high growth rate during the forecast period, 2019-2023. Solar water pumps are increasingly used in the regions where grid electricity is not available. Use of solar energy to drive the pumps cut down the operating cost, which is majorly consumed in the form of diesel. Also, stringent government regulations to reduce carbon footprints have been one of the major reasons for the increasing adoption of solar water pumps. Government in countries, such as China, India, Bangladesh, Pakistan, Morocco, Kenya, Namibia, and Nigeria have introduced financial subsidies, tax policies, price policies, and funding activities that have driven the solar water pump market. The potential for solar water pump can be identified from the fact that in countries, like Bangladesh, which are heavily dependent on diesel-based water pumps can save 450 million liters of diesel and reduce emissions by one million ton of CO2 annually, if 50,000 solar irrigation pumps are installed.
Government Regulations and Incentives Driving the Solar Water Pumps Market
The installation costs of solar water pumps are usually high and the investment payback period is found to be 4-6 years. Government subsidies to farmers, as well as solar pump manufacturers, especially in emerging economies of Asia-Pacific are expected to drive the solar water pump market in the forecast period. For example. in India where the government has introduced a budget scheme in which the farmer has to pay only 10% cost of solar water pumps. The PV module costs have declined from 62 cents/W in 2015 to 33 cents/W in 2017, and is expected to further decrease with technological advancements in the coming years, and help to reduce the payback period and support the growth of the market.
Asia-Pacific Holds the largest Share in Solar Water Pumps Market
Asia-Pacific has emerged as the one of the largest solar pump market. The massive increase in power consumption in developing countries, such as China and India, with inadequate power generation capacity and grid infrastructure for irrigation and community water supply facilities, solar water pumps have a good chance of replacing the conventional pumps. Increasing awareness of the potential benefits of this technology has compelled a number of countries to accelerate the deployment of solar water pumps. For example, Bangladesh has set a target to deploy 50,000 solar pumps by 2025, India, 100,000 by 2020; and Morocco, 100,000 by 2022.
Bangladesh A Huge Market Potential
The farmers in Bangladesh had to spend Tk 2,000 for irrigating one third of an acre of land with conventional diesel or electric water pumps every season. The increasing power demand and need for safe drinking water has led to the deployment of solar water pumps in the country. Infrastructure Development Company Ltd. (IDCOL), a financing company in Bangladesh, tried and tested ownership model, wherein microfinance has been used as a tool to enhance rural households ability to afford capital-intensive solar home systems- is being applied to solar pumping solutions. IDCOL has set itself a target to deploy 50,000 solar irrigation systems by 2025. Under the proposed agreement, IDCOL provides a combination of grant and credit to partner organizations to install and operate pumps.
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Reasons to Purchase Solar Water Pumps Market Report:
Current and future solar water pumps market outlook in the developed and emerging marketsAnalyzing various perspectives of the market with the help of Porters five forces analysisThe segment that is expected to dominate the marketRegions that are expected to witness fastest growth during the forecast periodIdentify the latest developments, market share, and strategies employed by the major market players3-month analyst support, along with the Market Estimate sheet in excel
Valuable Points from Solar Water Pumps Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Solar Water Pumps Market.
- Significant changes in Market dynamics.
- Solar Water Pumps Market segmentation according to Top Regions.
- Current, Historical, and projected the size of the Solar Water Pumps Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- Solar Water Pumps Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for Solar Water Pumps Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the market.
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Highlights of the following key factors:
- Business description-A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis-A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services-A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In Solar Water Pumps Market Research Report 2019-2023:
- North America (the USA, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America, Middle East, and Africa
Conclusively, this report will provide you a clear view of each facet of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
Mr. Ajay More
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