North America and Europe together are likely to witness a robust growth in global solar pumps market over the forecast period of 2015-2021. The market in these regions is likely to get escalated from formulations of mandatory government regulations regarding use of clean fuels in industries to curb the detrimental effects of global warming.Middle East and Africa (MEA) solar pumps market is projected to reach at USD 602 Million by 2021.
With approximately 34.0% share, Asia-Pacific dominated the global solar pumps market in terms of volume in the year 2015. The region is also anticipated to witness the highest CAGR of 43.6% during 2015-2021, sparked by increasing government support to farmers in terms of subsidies in countries such as India, Bangladesh and China.
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The world is currently witnessing a rapid depletion of non-renewable energy sources such as coal, petroleum, etc. and is shifting towards renewable sources of energy such as solar, wind, water, etc. Efforts are being made to utilize these renewable sources for wider applications. One such example of these efforts is development of solar pumps, which are highly efficient pumps running on solar panels.
The global solar pumps market is anticipated to witness a substantial compound annual growth rate (CAGR) of 34.3% over the forecast period i.e. 2015-2021. Regionally, the global solar pumps market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).
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Market Segmentation
By Type
Submersible Solar Pumps
Surface Solar pumps
Solar Pool Pumps
By End Use
Drinking Water
Agriculture
Oil & Gas
Others
Key Players
Global Solar Pumps market includes some of the top players such as Bright Solar, LORENTZ, Sun Edison, Shakti Pumps, Tata Power Solar, etc.
Scope and Context
Overview of the Parent Market
Analyst View
Market Size and Growth
North America (U.S., Canada) Market Size, Y-O-Y and CAGR % Growth Analysis
Latin America (Mexico, Brazil, Rest of Latin America) Market Size, Y-O-Y and CAGR % Growth Analysis
Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size, Y-O-Y and CAGR % Growth Analysis
Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia) Market Size, Y-O-Y and CAGR % Growth Analysis
Middle East and North Africa (MENA) Market Size, Y-O-Y and CAGR % Growth Analysis
Rest of World Market Size, Y-O-Y and CAGR % Growth Analysis
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