PUBLISHER: The Business Research Company | PRODUCT CODE: 1678401
PUBLISHER: The Business Research Company | PRODUCT CODE: 1678401
Solar water pump systems utilize electricity generated by photovoltaic panels to power water pumps, drawing water from various sources for agricultural irrigation, livestock watering, or potable drinking water.
Solar water pump systems encompass various types such as surface pumps, submersible pumps, and other specialized pump variations. Surface pump systems are tailored to extract water from sources such as ponds, tanks, shallow wells, and springs. These systems come in different power ratings: below 3 HP, 3 HP to 10 HP, and above 10 HP. Moreover, they feature diverse drive types, including AC motor-powered and DC motor-powered solar water pumps. These water pump systems cater to a wide array of end-users spanning agriculture, residential, commercial, and industrial sectors, addressing their varied water pumping needs.
The solar water pump systems market research report is one of a series of new reports from The Business Research Company that provides solar water pump systems market statistics, including solar water pump systems industry, global solar water pump systems market size, regional shares, competitors with a solar water pump systems market share, detailed solar water pump systems market segments, market trends and opportunities, and any further data you may need to thrive in the solar water pump systems industry. This solar water pump systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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.
Favorable governmental incentives driving the installation of solar water pump systems are catalyzing growth within this market segment. Globally, governments are promoting solar water pumps due to escalating diesel prices and electricity instability. For example, India's MNRE invited innovative proposals for 50 solar pumps via the PM-KUSUM program, aiming to install 20 lakh standalone 7.5 HP solar pumps by 2025-2026. The scheme subsidizes 60% of the total installation cost, reducing reliance on conventional electricity and operational expenses. This favorable environment nurtures the expansion of the solar water pump systems market.
The increasing agricultural activities are anticipated to drive the growth of the solar water pump systems market in the coming years. Agricultural activities involve various practices related to the cultivation of crops, livestock management, and the production of food, fiber, and other agricultural products. Solar water pump systems are utilized in agriculture to harness solar energy, providing a sustainable and efficient solution for pumping water for irrigation, livestock, and other agricultural needs. For example, in October 2024, the Food and Agriculture Organization (FAO), an agency of the United Nations based in Italy, predicted that global rice production in 2024 is expected to reach a record 539.2 million metric tons, bolstered by favorable conditions in India. This indicates a rising demand for productive and resilient crops. Additionally, world wheat production is projected to increase to 792.9 million tons in 2024, with improved yield prospects in Australia further emphasizing the global emphasis on healthier and higher-yielding agricultural outputs. Therefore, the growth in agricultural activities is propelling the solar water pump systems market forward.
Technological advancements take center stage as a prominent trend in the solar water pump systems market. Companies within this sector are innovating to enhance the operational efficiency of both solar panels and water pump systems. For instance, in April 2022, Shakthi Pumps Limited, an India-based developer of water pumps and motors, secured a patent for a unidirectional solar water pump equipped with a grid-tied power generation system. This cutting-edge technology ensures superior performance by optimizing panel usage and generating surplus power for grid integration.
Leading companies in the solar water pump systems sector are focusing on innovative products such as solar pump controllers to address the growing demand for sustainable water pumping solutions. Solar pump controllers and Remote Monitoring Units (RMUs) are crucial components enhancing the performance and monitoring of these systems. In January 2022, GautamSolar Pvt. Ltd. unveiled enhanced versions of solar pump controllers and RMUs, designed for 1-10 HP solar pumps. These updates incorporate variable frequency drives, MPPT technology, remote monitoring, and protection devices, aiming to improve efficiency and monitoring while catering to diverse user expertise levels.
In October 2023, Maharashtra State Electricity Distribution Company Limited (MSEDCL), an Indian electric power distribution company, forged a partnership with Shakti Pumps India Limited. This collaboration aims to deploy 50,000 off-grid solar photovoltaic water pumping systems across Maharashtra, aligning with the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan's objectives to promote solar energy usage in the agricultural sector.
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.
Asia-Pacific was the largest region in the solar water pump systems market in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the solar water pump systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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.
The solar water pump systems market consists of sales of pump, controller, solar panels. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Solar Water Pump Systems Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on solar water pump systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for solar water pump systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The solar water pump systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.