The solar water pump systems market size has grown rapidly in recent years. It will grow from $1.69 billion in 2024 to $1.89 billion in 2025 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to rural electrification initiatives, off-grid and remote area applications, water scarcity concerns, government incentives and subsidies, environmental sustainability.
The solar water pump systems market size is expected to see rapid growth in the next few years. It will grow to $3.02 billion in 2029 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to continued focus on sustainable agriculture, climate change resilience, rising energy costs, expansion of water-intensive industries, government renewable energy targets. Major trends in the forecast period include government incentives and subsidies for solar pump adoption, shift towards direct current (DC) solar pumps, focus on modular and portable pump designs, integration of water conservation and precision irrigation, collaborations for research and development.
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What are the key forces behind the solar water pump systems market’s growth in recent years?
The favorable government incentives for installing solar water pumps are driving the growth of the solar water pump systems market. Governments across the globe are promoting initiatives to focus on solar water pumps due to the rise in the price of diesel and the instability of electricity. The incentives or subsidies by governments to purchase solar-powered water pumps are focused on reducing dependence on other forms of electricity and also reducing operational costs over the long run. For instance, Innovators are invited to demonstrate their inventions as part of an expression of interest (EoI) published by the Ministry of New and Renewable Energy (MNRE). MNRE has invited bids for the installation of 50 inventive solar pumps through the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyaan (PM-KUSUM) program. MNRE will assist in the installation of 20 lakh standalone solar pumps rated at 7.5 HP by 2025-2026. Products must be cutting-edge and tested in a real-world setting in order to be approved, the Government of India launched the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha Utthan Mahabhiyan) scheme, an initiative to assist the installation of off-grid solar pumps on village land (rural areas), reducing their reliance on the grid. Under this scheme, 60% of the total installation cost is subsidized by the government. Therefore, the favorable government incentives for installing solar water pumps are propelling the growth of the solar water pump systems market.
What are the major segments of the solar water pump systems market?
The solar water pump systems market covered in this report is segmented –
1) By Type: Surface Pump, Submersible Pump, Other Pump Types
2) By Power Rating: Below 3HP , 3HP To 10 HP , Above 10 HP
3) By Drive Type: AC Motor Powered Solar Water Pumps, DC Motor Powered Solar Water Pumps
4) By End-User: Agriculture, Residential, Commercial, Industrial
Subsegments:
1) By Surface Pump: Centrifugal Surface Pumps, Positive Displacement Surface Pumps, Diaphragm Surface Pumps
2) By Submersible Pump: Borewell Submersible Pumps, Open Well Submersible Pumps, Pressure Submersible Pumps
3) By Other Pump Types: Solar-Driven Water Pumps, Hybrid Water Pumps, Solar Irrigation Pumps
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Which companies dominate the solar water pump systems market?
Major companies operating in the solar water pump systems market include Tata Power Company Limited, Wilo SE, Advanced Power Inc., Jain Irrigation Systems Ltd., Crompton Greaves Consumer Electricals Limited, Sunmotor International Ltd., KSB Limited, Lorentz Group Ltd., Mahindra Shakti Pumps Limited, Lubi Electronics, C.R.I. Pumps Private Limited, Rainbow Power Company Ltd., Shakti Pumps India Ltd., Bernt Lorentz GmbH, CNP Pumps India Pvt Ltd., Greenmax Technology, Solar Power & Pump Company LLC, SunCulture, Bright Solar Limited, American West Windmill and Solar Company, Wenling Jintai Pump Factory Limited, Grundfos Pumps India Pvt Ltd., Kirloskar Brothers Limited, Solariver Co Ltd., SunPumps Inc., Zhejiang Feili Pump Co Ltd.
What major trends will shape the solar water pump systems market during the forecast period?
Technological advancement is a key trend gaining popularity in the solar water pump systems market. The companies operating in the solar water pump systems market are developing innovative technologies to increase the operational efficiency of solar panels and water pump systems. For instance, in April 2022, Shakthi Pumps Limited, an India-based developer of water pumps and motors, received a patent for a unidirectional solar water pump with a grid-tied power generation system. The new technology ensures efficient performance by utilizing panels and generating extra power to feed the grid.
What are the key regional dynamics of the solar water pump systems market, and which region leads in market share?
The countries covered in the solar water pump systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Solar Water Pump Systems Market Report 2025 Offer?
The solar water pump systems market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The solar water pump systems refer to water pumps that run on electricity that is provided by one or several photovoltaic (PV) panels. Solar energy is converted into electricity by the photovoltaic array, which is used to run the motor pump set to draw water from an open well, a bore well, a stream, a pond, or a canal. Solar water pump systems are used for the water supply for irrigating crops, watering livestock, or providing potable drinking water.
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