Published on : Jun 28, 2017
Albany, New York, June 28, 2017: The report provides quantitative and qualitative analysis of the current demand for solar pumps from the agriculture sector, and estimates it to expand at a healthy CAGR during the forecast period of 2017 to 2022.
The report, compiled to serve as a reliable resource for strategic decisions for the stakeholders of the market for solar pumps, also includes a dedicated chapter on the profiles of key vendors operating in the market in order to represent the competitive landscape. It segments the global agriculture solar pumps market on the basis of product type and application as well as takes stock of its potential in all the important regions and countries.
As per the findings of the report, the global solar pumps market in the agriculture sector is driven by several factors including insufficient power supply in developing countries, advantages over diesel pumps, and favorable government initiatives in the region of Asia Pacific. Solar pumps are highly useful in locations where grid electricity is unreachable, while other substitute sources (such as wind) fails to provide adequate energy. Prosperity of the industrial and residential sector is reflecting positively on agriculture solar pumps market, as it helps in lowering operation and maintenance cost.
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On the other hand, high initial investments, low-cost product offerings in developing countries and the lack of awareness regarding the availability of these innovative products are some of the factors that are challenging the market from attaining its true potential. Nevertheless, trends such as the emergence of solar-diesel hybrid systems, demand for green buildings in the Middle East and North America, and growing demand for automated pump systems bode well for the future of the global agriculture solar pumps market.
On the basis of product type, the report segments the global agriculture solar pumps market into DC surface suction, AC submersible, and DC submersible and AC floating. Application-wise, the market has been categorized into irrigation and others. Geographically, the report gauges the potential of agriculture solar pumps market in North America, Europe, Southeast Asia, China, Japan, and India. For each of these regions and countries, the report provides historical data on demand since 2012 and projections until 2022. It also includes global agriculture solar pumps capacity, market share by region, production status, and outlook.
Some of the most prominent companies operating in the global agriculture solar pumps market that have been profiled in the report are Shakti Solar Pumping System, Lorentz, USL, CRI Group, Strategic Initiatives, Solar Power & Pump Co., LLC, Wenling Jintai Pump Factory, American West Windmill & Solar Company, SunEdison, Rainbow Power Co., Ltd, Bright Solar Water Pumps, and Grundfos. For each of these companies, the report outlines capacity and shares by manufacturers, revenue, manufacturing base, average price, and profits, as well as the market share of top 3 and top 5 manufacturers.
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