Solar Pumps Market: size and forecast, 2015-2025 by Future Market Insights

Solar Pumps Market: size and forecast, 2015-2025 by Future Market Insights

Global Solar Pumps

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Future Market Insights

Report Description
Increasing development in the industrial, residential and agricultural industry along with lower
operation and maintenance cost, the demand for global solar pumps market is rapidly
escalating. Solar Pump is a pump which runs on electricity generated by thermal energy
(available from collected sunlight) or photovoltaic panels (method of converting solar energy
into direct current electricity). Considering maintenance, this solar pumps last for more than 16
years on field. This solar pumps are neither dependent upon diesel nor electricity thus, ensuring
people at remote areas to avail the benefit which in turn will further result in increased
efficiency and productivity. Solar Pumps are free from difficulties like supply cut, feeder damage,
rate hikes etc. Additionally, solar pump provides less environmental impact than other powered
(internal combustion engine) pumps which have witnessed a major growth in the global solar
pumps market.
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Solar Pumps Market: Drivers & Restraints
Solar pumps are also known as Solar PV water pumping system. Solar pumps are very useful
where grid electricity is unreachable and substitute sources (in particular wind) do not provide
adequate energy. Simultaneous growth in agriculture, demand for other water intensive
industries along with increasing government support (tax and subsidies benefits) are the major
factors driving the growth in solar pumps market.

Report Description
On account of shift in industry towards eco-friendly feature, the demand for global solar
pumps is increasing. However, higher investment cost, availability of spare...

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