Which Factors Will Induce a Change in the Demand for Solar Pumps During the Assessment Period

The global solar pumps market was valued at US$ 1.1 Bn at the end of 2019 and is anticipated to surpass US$ 3.5 Bn during the forecast period. Solar pumps are witnessing immense penetration in the farming sector and it is anticipated to capture a significant chunk of the market share throughout the forecast period. A spurt in agricultural activities across the globe, coupled with high water demand for irrigation is set to drive the farming application segment. The demand for solar pumps in the farming sector is rapidly increasing and is anticipated to grow significantly in the near future as farming is one of the prime contributors to GDP in many regions globally.

For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=4609

Moreover, solar pumps leave minimal environmental impact vis-à-vis other conventionally powered pumps that have observed prolific growth in the worldwide market of solar pumps. The newest report by Fact.MR estimates that the farming sector will account for more than 66% of the total global value share and is projected to grow at a value CAGR of 12.5% during the forecast period 2019-2029.

Key Takeaways of Solar Pumps Market

• Global solar pumps  market is expected to create an absolute $ opportunity of more than US$ 2.3 Bn and is anticipated to expand 3X from 2019 through 2029
• 4-6 HP solar pumps will hold maximum share in terms of value accounting for nearly 39% of the total market share and are projected to be valued at US$ 1.3 Bn by the end of forecast period (2019-2029)
• South Asia is projected to hold maximum share in global solar pumps market and is expected to grow ~3.7X more than North America by the end of forecast period
• India is projected to create an absolute $ opportunity of US$ 654.1 Mn between 2019 and 2029 and is estimated to be valued at US$ 865.9 Mn in 2029

For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4609

Key Segments of the Solar Pumps Market

Fact.MR’s study on the solar pumps market offers information divided into four key segments— type, capacity, application, and region.

This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Type	Submersible Alternating Current (AC) Direct Current (DC) Surface Alternating Current (AC) Direct Current (DC)
Capacity	Below 4 HP 4-6 HP 6-8 HP Above 8 HP

For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/4609

Product Launch and Expansion Paves Way for Future Growth Prospects

The report reveals some of the prominent key players, including KSB SE & Co. KGaA, Kirloskar Brothers Limited, Grundfos, Franklin Electric, BW Solar (Waterboy), Stanley Black & Decker Inc., Glynncorp Electrical, Bernt Lorentz GmbH & Co. KG, and others. Prominent players are focusing on expansion and new product launches to strengthen their global presence. For instance,

• In 2019, Stanley Black & Decker launched STANLEY Earth with the introduction of solar powered water pumps, to empower farmers of India
• In 2019, Grundfos inaugurated its new sales office in Surabaya, Indonesia to enhance customer experience in key segments

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/30/2008433/0/en/Demand-for-Waterjet-Cutting-Machines-Majorly-Upheld-by-Automotive-and-Mining-Propelling-Abrasive-Machines-to-Reign-Supremacy-Says-Fact-MR.html

Explore Fact.MR’s Comprehensive Coverage on Industrial Goods Landscape

Pressure Sensor Market Growth to Spur on the Back of Application In Medical, Automobile, Consumer Electronics and Oil And Gas Sectors- https://www.factmr.com/report/4229/pressure-sensor-market

Scraper Conveyor Market Insights on Assessment of Demand Opportunity by Type – Parallel Scraper Conveyor and Overlapped Scraper Conveyor- https://www.factmr.com/report/4230/scraper-conveyor-market

Room Pressure Monitor Market Analysis on Assessment of Deployment of Room Pressure Monitors and Product Type, 2021-2031- https://www.factmr.com/report/4888/room-pressure-monitor-market

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com