Solar Water Pumps Market Size - By Product (Submersible Pump, Surface Pump), By Technology (AC Pumps, DC Pumps), By Power Rating (< 5 HP, 5 HP - 10 HP, 10 HP - 20 HP, > 20 HP), By Application (Agriculture, Water Supply) & Global Forecast, 2024 – 2032

Solar Water Pumps Market Size

Solar Water Pumps Market was valued at USD 1.5 billion in 2023 and is estimated to grow at over 9% CAGR between 2024 and 2032. A solar water pump is a type of pump that operates using energy from the sun. It uses photovoltaic panels or solar panels to convert sunlight into electricity, which then powers the pump. These units are commonly used for pumping water from wells, boreholes, or other water sources for various applications such as irrigation, livestock watering, and domestic water supply in areas without access to grid electricity.
 

Solar water pumps have gained significant popularity, especially in developing regions with limited access to electricity and unreliable grid infrastructure. These regions often rely on agriculture as a primary source of income, and solar water pumps offer a cost-effective and sustainable solution for irrigation, leading to improved crop yields and livelihoods.
 

COVID– 19 Impact

The COVID- 19 pandemic has caused significant disruptions to the economies worldwide. Particularly, the various application areas have been heavily affected, resulting in delays in various projects, including the manufacturing of solar water pumps. The disruption in global supply chains and the mining of raw materials has had a profound impact on the market. However, as opportunities arise, organizations focus on prioritizing the resumption of normal operations. The aim is to overcome the challenges caused by the pandemic and to seize emerging opportunities for growth and development in the industry.
 

Solar Water Pumps Market Trends

Favorable policies & incentives to promote renewable energy along with continuous advancements in technology will positively impact the business landscape. These initiatives may include subsidies, tax benefits, and financial assistance programs that encourage the adoption of solar-powered irrigation systems. Moreover, improved solar panel efficiency, advanced pump controls, and better energy storage solutions will institute a favorable industry scenario.
 

Solar Water Pumps Market Analysis

Based on technology, the AC pumps segment is anticipated to witness 9.1% growth rate through 2032. Government policies to promote the adoption of renewable energy solutions coupled with integration of these pumps into hybrid systems will foster the industry growth. These pumps provide an eco-friendly and efficient alternative to traditional grid-powered pumps, leading to water conservation and reduced carbon emissions, stimulating the business outlook.
 

Based on product, the submersible segment held approximately 60% share of the solar water pumps market in 2022. Increasing applicability across agricultural sector along with increasing focus toward water conservation will augment the business landscape. The product offers key benefits including high efficiency and ability to operate directly from the water source, which in turn will accelerate the industry potential.
 

Based on power rating, the 5 HP - 10 HP solar water pumps market is set to surpass USD 1 billion by 2032. Favorable norms aimed to encourage farmers and agricultural enterprises to invest in solar technology and reduce their dependence on fossil fuels will propel the industry outlook. Shifting focus on sustainable water resource management will positively sway the business landscape.
 

Based on application, the solar water pumps market is segmented as agriculture, water supply and others. Wide scale utilization of these systems across remote and off-grid areas coupled with implementation of micro-irrigation techniques will augment the business landscape. Ongoing technological advancements including remote monitoring, data analytics, and automation will further fuel the product penetration.
 

Asia Pacific solar water pumps market size reached USD 580 million in 2022. Increasing demand for clean and sustainable water solutions along with rapid urbanization and industrialization will foster the business outlook. Decreasing solar panel costs in line with rising fuel prices will propel the industry potential. Growing awareness toward sustainable water management and reduction in carbon footprints will drive the product deployment.
 

Solar Water Pumps Market Share

The key industry players operating across the solar water pumps market include

• TATA Solar Power
• Alpex Power
• Aqua Group
• Crompton Greaves
• LORENTZ
• Dankoff Solar
• EcoSoch
• Ecozen
• Franklin Electric
• Grundfos Pumps
• Jakson Group
• KSB SE & Co.
• Novergy Energy Solutions
• Shakti Pumps
• Surya International
• US Solar Pumps
• Bright Solar
• C.R.I. Pumps Private Limited
• Symtech Solar Group
• Wenling JINTAI Pump Factory
• Lubi
• Oswal

Solar Water Pumps Industry News

• In March 2023, TATA Solar Power and ISS Global signed memorandum of understanding to promote the adoption of clean and sustainable energy solutions in India. The collaboration's objective is to utilize green energy to power all ISS India campuses and introduce TPREL's eco-friendly solutions and products. Furthermore, as part of the collaboration, sustainable lifestyles will be promoted using IoT-based home automation products. These products enable users to control and operate electrical devices remotely from anywhere using a mobile app or voice commands, enhancing convenience and energy efficiency.
   
• In January 2023, Jakson Group announced its partnership with Redington, one of the leading solar technology solution providers. The partnership aimed to distribute solar panels and green energy products worldwide. This strategic move will help the company to strengthen its current portfolio of solar products.
   

This solar water pumps market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

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By Product

• Submersible Pump
• Surface Pump

By Technology

• AC Pumps
• DC Pumps

By Power Rating

• < 5 HP
• 5 HP - 10 HP
• 10 HP - 20 HP
• > 20 HP

By Application

• Agriculture
• Water Supply
• Others

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Spain
  • Italy
  • Netherlands
  • Poland
  • Sweden
• Asia Pacific
  • China
  • India
  • Australia
  • Philippines
  • Japan
  • New Zealand
  • Indonesia
  • Thailand
  • Malaysia
• Middle East & Africa
  • Saudi Arabia
  • Iran
  • Egypt
  • Turkey
  • South Africa
  • Nigeria
• Latin America
  • Brazil
  • Argentina
  • Peru
  • Mexico