The Key Players in Global Solar Pumps Market 2016-2020

Tuesday 22 March 2016, Amsterdam

The report, now available on ASDReports, recognizes the following companies as the key players in the Global Solar Pumps Market: Bright Solar, LORENTZ, Shakti Pumps, SunEdison, and Tata Power Solar.

Other Prominent Vendors in the market are: Conergy, CRI Group, Dankoff Solar, Flowserve, Greenmax Technology, Grundfos, Jain Irrigation Systems, and USL.

Commenting on the report, an analyst said: “The need for increasing agriculture productivity is driving technological developments in the global solar pumps market. Automating these pumps to carry out operations, such as pumping water for irrigation and livestock and fish farming, and ensure domestic water supply is gaining importance worldwide.”

According to the report, developing countries such as China, India, and Bangladesh are taking measures to spread awareness about the benefits of renewable energy such as solar pumps for irrigation purposes. For instance, the Indian government is providing grants and subsidies to the country’s farmers to purchase solar water pumping systems. In January 2016, the government announced an investment of $11 billion to set up solar pumps across the country. Such initiatives not only facilitate in reducing the use of conventional energy sources but also help in increasing the market penetration of solar pumps in the developing countries.

Further, the report states that solar pumps have high initial investment and negligible maintenance cost compared to diesel pumps. Diesel pumps involve recurring service and maintenance costs with little initial capital requirement. The high initial cost of solar pumps makes them unaffordable to farmers.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.