India solar water pumps (SWP) market is exhibiting substantial growth for the past few years. Growing adoption of renewable energy resources, especially solar energy, government initiatives such as the KUSUM scheme to provide 2.75 million solar pumps to farmers, subsidy provision, and lower operating cost of solar pumps are some of the key factors driving the growth of the solar water pumps market in India.
According to 6Wresearch, India solar water pumping system market is projected to grow at a CAGR of over 27% during 2018-2024. Among different power ratings, the 3.1 to 10 HP solar pumps segment bagged the highest revenue share in 2017 followed by up to 3 HP segment. 3.1 to 10 HP segment is projected to exhibit the highest growth rate during the forecast period as well, attributed to its affordability and high subsidies provided by the government. Further, with depleting groundwater level, there is rising demand for submersible solar pumps and the segment is projected to exhibit high growth over the coming years.
In 2017, the Western region contributed the highest revenue share recording nearly 34.9% towards the overall India solar water pumping systems market. However, the Northern region is anticipated to exhibit the highest growth during the forecast period owing to various state government targets of solar pump installation in the region.
The report thoroughly covers the solar water pumping system market by power ratings, design, drive, applications, and regions. The report provides an unbiased and detailed analysis of the ongoing 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 market is anticipated to register sound growth throughout the forecast period owing to the rising substantial growth of the agriculture sector in the country. As rising agricultural activities due to increase in the population is leading to the increased consumption rate along with rising export practices, has led to increasing the irrigation process. Therefore the government is taking initiative by installing solar panels to drive renewable energy for the water pump out process in the field to reduce carbon footprint and is estimated to boost the growth of the India solar water pumping system market in the coming timeframe.
Key Highlights of the Report:
• Historical Data of India Solar Water Pumping System Market Revenues & Volume for the Period 2012-2017
• Market Size & Forecast of India Solar Water Pumping System Market Revenues & Volume until 2024
• Historical Data of India Solar Water Pumping System Market Revenues & Volume by Power Rating for the Period 2012-2017
• Market Size & Forecast of India Solar Water Pumping System Market Revenues & Volume by Power Rating until 2024
• Historical and Forecast Data of India Solar Water Pumping System Market Revenues, By Design Type for the Period 2012-2024
• Historical and Forecast Data of India Solar Water Pumping System Market Revenues, By Drive Type for the Period 2012-2024
• Historical and Forecast Data of India Solar Water Pumping System Market Revenues, By Applications for the Period 2012-2024
• Historical and Forecast Data of India Solar Water Pumping System Market Revenues, By Regions for the Period 2012-2024
• Market Drivers and Restraints
• Market Trends and Opportunities
• Industry Life Cycle and Value Chain Analysis
• Porter’s Five Forces Analysis
• Players Revenue Share
• Competitive Benchmarking, and Company Profiles
• RecommendationsMarkets Covered:
The report provides a detailed analysis of the following market segments:
• By Power Rating
o Up to 3 HP
o 3.1 to 10 HP
o 10.1 to 12.5 HP
o 12.6 to 19 HP
o Above 19 HP
• By Design Type
o Surface Pump
o Submersible Pump
• By Drive Type
o AC Motor
o DC Motor
• By Applications
o Irrigation
o Others (Drinking, Fountains, livestock watering, municipal services, etc.)
• By Regions
o Northern
o Eastern
o Western
o Southern
