Posted On: 2018-07-30
Africa Solar Water Pump market had registered substantial growth in terms of number of new installations, predominantly attributed to decreasing price of PV panels and government subsidy over the past few years. Easy finance by NGO's and government banks boosted the small scale farmer confidence which have bolstered the Africa Solar Water Pump market. In Morocco, NAMA program supports new installation of solar water pump in agriculture fields. During the forecast period, lower capacity submersible pumps with DC motor would account for majority of the market share on the back of increasing diesel price and poor availability of grid electricity in the agriculture fields.
According to 6Wresearch, Africa Solar Water Pump Market volume is expected to grow at a CAGR of 24.2% during 2018-24. New installation of solar water pump is anticipated during the forecast period on the back of developing agriculture sector across various countries. The solar PV capacity of Africa is expected to reach more than 70 gigawatt by 2030, which would spur the installation of solar water pumps over the forecast period.
According to Shefali Goel, Senior Research Analyst, Research and Consulting, 6Wresearch, Agriculture region held the highest market revenue share in the overall solar water pump market of Africa. Developing small scale irrigation in agricultural fields had bolstered the demand for solar water pumps.
"Moreover, awareness campaigns on solar energy by different organizations had driven new installations in the region, resulting in an increased deployment of solar water pumps," Shefali further added.
According to Ramneek Dawar, Research Associate, Research and Consulting, 6Wresearch, Morocco and Ethiopia have accounted for majority of the revenue share in Africa solar water pump market, attributed to government initiatives towards solar energy projects in the agriculture and domestic regions.
Some of the key players in Africa solar water pump market include- Lorentz, Grundfos, CRI pumps, SunCulture and Karmsolar.
"Africa Solar Water Pump Market (2018-2024)" provides an in-depth analysis with 119 figures and 2 tables covered in more than 150 pages. The report estimates and forecast the overall Africa Solar Water Pump market by revenues, volumes, countries, segmentation, design and drive such as AC and DC. The report also offer insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.