The Indian solar water pump market is predicted to grow considerably at a CAGR of 15.2% during the forecast period. The Indian solar water pump market is expected to grow significantly due to increasing application in the domestic and agriculture sector, increasing government support, and low maintenance. Solar water pumps are easy to install due to which it is becoming popular among the end-user. In India, the solar water pump is mainly used for irrigation and drinking purpose. The solar water pump of capacity 5hp (horsepower) can deliver about 124,000 liters of water per day. In India, a total of 1, 20,000 solar PV water pumping systems have been installed in 2016. Solar water pumps are widely used due to their several advantages such as low cost as compared to costly diesel water pumps and it also improves energy access in remote areas. The Indian government decided to provide substantial capital subsidy support to the farmer. Government subsidies for the installation of solar water pumps in agricultural activities are further driving the market. Solar water pumps are also used in livestock water usage, which reduces the dependency on fossil fuels such as diesel and other energy sources such as windmills.
Get Free Sample link @ https://www.omrglobal.com/request-sample/indian-solar-water-pump-market
The Indian solar water pump market has been hit hard by the outbreak of the virus. Majorly, COVID-19 has affected the market in three ways, which are, production and demand; market and supply chain disruption; along with financial impact on firms and financial markets. Besides, solar module prices are dropping. In 2020, the solar module price dropped to nearly $0.5-0.6 per watt whereas, in 2016, the solar module price was nearly $ 4.5 per watt. The Distributed Renewable Energy (DRE) Sector, announced that the COVID-19 pandemic has dampened the demand and clasped equipment and funds for some of the largest companies operating in the solar industry. DRE estimated the solar industry to reach approximately 101 billion by 2023 before the pandemic. However, the pandemic has led the industry to witness a downfall.
full report of Indian Solar Water Pump Market available @ https://www.omrglobal.com/industry-reports/indian-solar-water-pump-market
- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Indian Solar Water Pump Market by Type
- Surface
- Submersible Water Pumps
Indian Solar Water Pump Market by Component
- Solar Panel
- Controller & Pumps
Indian Solar Water Pump Market by Application
- Agriculture Purpose
- Household
- Industrial
Company Profiles
- Apex Solar Pvt. Ltd.
- Bright Solar Pvt. Ltd.
- Claro Energy Pvt. Ltd
- Conergy Energy System Pvt. Ltd.
- Jain Irrigation System Ltd.
- Kirloskar Brothers Ltd.
- Lubi Solar Pvt. Ltd.
- Prosun Energy Pvt. Ltd.
- Rainbow Power Co. Ltd.
- Shakti Pumps Ltd.
- Solar Power And Pumps Co., Llc.
- Span Pumps Pvt. Ltd.
- Sunedison, Inc.
- Tata Power Solar System Ltd.
- Topsun Energy Ltd.
- Udhaya Semiconductors Ltd.
- Vimal Electronics
- VRG Energy
- Waare Group
- Wenling Jintai Pump Factory
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Key companies operating in the Indian solar water pump market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/indian-solar-water-pump-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
