India Solar Water Pumping Systems market report comprehensively covers the market by power rating, design type, drive type, applications, and regions. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics
India Solar Water Pumping Systems Market Synopsis
India Solar Water Pumping System Market has been exhibiting substantial growth over the past few years. Growing adoption of renewable energy resources, especially solar, along with government initiatives such as “Pradhan Mantri - Kisan Urja Suraksha evam Utthan Mahabhiyaan (PM KUSUM)” scheme with an aim to install 20 lakh units of standalone solar water pumping systems by 2022, would act as a driving forces behind the growing demand for solar water pumps. Further, subsidy provisions and lower operating cost of the solar water pumping system would incentivize the farmers to increase the adoption of solar water pumps over the coming years. However, COVID- 19 pandemic impacted on the growth of the deployment of the pumps across the country, but state governments and central government policies such as Maharashtra's Mukhyamantri Saur Krishi Pump Yojana, solar program by NREDCAP, among others, are expected to increase the annual sales of the Solar Water Pumping Systems in the coming years.
According to 6Wresearch, India Solar Water Pumping Systems Market size is projected to grow at CAGR of 60.7% during 2020-2026. India solar water pumping system market is mainly subsidy driven, where direct sales accounts for a negligible share in the market. The financial aid is only extended for up to 7.5HP solar water pumping category. Thus, the growth in the respective segment of solar-based water pumping system showed a better increase in past years. However, falling prices of the solar water pumping system of the ratings mentioned above on the back of increasing competitiveness in the market are expected to create a moderate drag on the growth of market revenues over the coming years. In 2020, the western region contributed the highest volume share towards India's overall solar water pumping system market on account of the proactive measures taken by the state government under schemes like the Rajasthan Solar Pump Grant Scheme and agencies such as Chhattisgarh Renewable Energy Development Agency (CREDA). Further, the western region is anticipated to exhibit the highest growth during the forecast period due to various state government targets of solar water pumping system installation.
Market Analysis by Power Rating
Among power ratings, solar pumps with lower power rating bagged the highest volume share in 2019. Moreover, up to 3 HP segment is projected to exhibit the highest growth rate during the forecast period, attributed to its affordability and high subsidies provided by the government. Also, with the lower groundwater level, the demand for submersible solar water pumping systems outweighs the demand for its other counterpart. However, the surface solar water pumping segment is projected to exhibit higher growth over the coming years.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2016 to 2019.
- Base Year: 2019
- Forecast Data until 2026.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- India Solar Water Pumping Systems Market Overview.
- India Solar Water Pumping Systems Market Outlook.
- India Solar Water Pumping Systems Market Forecast.
- Historical Data and forecast of India Solar Water Pumping Systems Market Revenues and Volume for the Period 2016-2020
- Historical Data of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume for the Period 2016-2020
- India Off-Grid Solar Water Pumping Systems Market Size and Market Forecast of Revenues and Volume, Until 2026
- Historical Data of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume, by Power Rating, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume, by Power Rating, until 2026F
- Historical Data of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume, by Design Type, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume, by Design Type, until 2026F
- Historical Data of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume, by Drive Type, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume, by Drive Type, until 2026F
- Historical Data of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume, by Applications, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping Systems Market Revenues and Volume, by Applications, until 2026F
- Historical Data of India Off-Grid Solar Water Pumping Systems Market Revenues, by Regions, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping Systems Market Revenues, by Regions, until 2026F
- Historical Data of India Off-Grid Solar Water Pumping Systems Market Revenues of Regions, by Power Rating, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping Systems Market Revenues of Regions, by Power Rating, until 2026F
- Historical Data of India On-Grid Solar Water Pumping Systems Market Revenues and Volume for the Period 2016-2020
- India On-Grid Solar Water Pumping Systems Market Size and Market Forecast of Revenues and Volume, Until 2026F
- Historical Data of India On-Grid Solar Water Pumping Systems Market Revenues and Volume, by Power Rating, for the Period 2016-2020
- Market Size & Forecast of India On-Grid Solar Water Pumping Systems Market Revenues and Volume, by Power Rating, until 2026F
- Market Drivers and Restraints
- India Solar Water Pumping Systems Market Trends and Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- India Solar Water Pumping Systems Market Share, By Players
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Power Rating
o Up to 3 HP
o 1 to 5 HP
o 1 to 7.5 HP
o 6 to 10 HP
o 1 to 12.5 HP
o 6 to 19 HP
o 1 to 12.5 HP
o 6 to 19 HP
- ByDesign Type
- Surface
- Submersible
- ByDrive Type
- AC Pump
- DC Pump
- By Application
- Lift Irrigation
- Others (Drinking, livestock watering, municipal services, etc.)
- By Regions
- Northern
- Southern
- Eastern
- Western
Other Key Reports Available:
- APAC Solar Water Pumping Systems Market (2020-2026F)
- India Solar Water Pumping Systems Marker (2020-2026F)
- China Solar Water Pumping Systems Market (2020-2026F)
- UAE Solar Water Pumping Systems Market (2020-2026F)
