India Solar Water Pump Market Introduction and Overview
According to SPER Market Research, the India Solar Water Pump Market is estimated to reach USD XX billion by 2033 with a CAGR of 15.23%.
The report includes an in-depth analysis of the India Solar Water Pump Market, including market size and trends, product mix, distribution channels, and supplier analysis. A solar water pump is a system that uses solar energy to pump water for a variety of purposes, including irrigation, community water supply, and potable drinking water, while reducing dependency on diesel, gas, or coal. These systems are environmentally friendly and require little fuel-free maintenance. It is one of the most capable applications of solar energy, and it can be useful in most of the world's rural and remote places. Product demand in rural regions is expected to expand as need for reliable and clean water supply and agricultural operations rises.
- Under the PM KUSUM Program, the Indian government agreed to set a target of 1.75 million solar water pump installations for irrigation and 1 million grid-connected pump installations by 2022.
- Shakti Pumps provided around 30,000 solar water pumps to farmers as part of the PM KUSUM Scheme in 2021-2022. The company expected to distribute 75,000 pumps between 2022 and 2023, with 10,000 already distributed.
Market Opportunities and Challenges
India Solar Water Pump market offers a variety of opportunities and challenges. The solar water pump is a prominent application of solar energy. Various government agencies have introduced subsidies for solar types of water pumps in order to boost acceptance and adoption of solar powered water pump systems. These incentives reflect the transition to clean renewable energy and clean energy. For example, a pump subsidy aimed at encouraging their adoption in order to mitigate negative environmental effects and reduce reliance on fossil fuel-powered pumps has a substantial impact on the Indian market.
Furthermore, as product usage increases, market participants and innovators in the solar pump business will have an opportunity to capitalize on the economic potential of these pumps while also improving the quality of life in rural communities. However, the expensive cost of solar water pumps, along with a low degree of knowledge, may limit market expansion. The major reasons for the low uptake of solar water pumps are the system's affordability and the current financial position, which are the biggest barriers to market expansion. As a result, many other solutions are less appealing to smallholder farmers due to their high costs and unfavorable terms. Furthermore, even with subsidies, the bulk of these pumps are beyond of reach for smallholder farmers, who account for the vast majority of the Indian solar pump market. Furthermore, because only 2% of India's smallholder farmers are aware of the government's pump subsidy scheme, market expansion is hampered.
Market Competitive Landscape
The prominent players in the India solar water pump market include, Crompton, Eco Soach, Ecozen Solutions, Franklin Electric, Shakti Pump Limited, Bright Solar Pvt. Ltd., and Lorentz, Alpex Solar Pvt. Ltd., Aqua Group. Vendor competition will increase as technology advances, service expansions, and mergers and acquisitions increase.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Product, By End User, By Operation
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| Regions covered | North India, East India, West India, South India.
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| Companies Covered | Alpex Solar Pvt. Ltd., Aqua Group, Crompton, Eco Soach, Ecozen Solutions, Franklin Electric, Shakti Pump Limited, Bright Solar Pvt. Ltd., and Lorentz
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COVID-19 Impact on India Solar Water Pump Market
During the COVID-19 epidemic, sales volume decreased. COVID-19's unique and vast worldwide health disaster had a huge impact on both families and the economy. The COVID-19-induced reduction in solar power unit sales has affected the Indian market for solar power pumps. India had about 6% growth as a consequence of the efforts of key market actors who provided critical financial, technical, and operational assistance to the sector.
Key Target Audience
- Agricultural Sector
- Farmers
- Agricultural Cooperatives
- Rural Communities
- Off-Grid Communities
- Non-Governmental Organizations (NGOs)
- Government and Public Institutions
- Government Agencies
- Public Utilities
- Commercial and Industrial Sectors
- Resorts and Hotels
- Mining and Construction
Our in-depth analysis of the India Solar Water Pump Market includes the following segments:
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By Product:
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Surface Suction
Submersible
Floating
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By End-User:
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Agriculture
Water Management
Others
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By Operation:
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AC Pump
DC Pump
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By Region:
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North India
East India
West India
South India
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Key Topics Covered in the Report
- India Solar Water Pump Market Size (FY’2023-FY’2033)
- Overview of India Solar Water Pump Market
- Segmentation of India Solar Water Pump Market By Product (Surface Suction, Submersible, Floating)
- Segmentation of India Solar Water Pump Market By End User (Agriculture, Water Management, Others)
- Segmentation of India Solar Water Pump Market By Operation (AC pump, DC pump)
- Statistical Snap of India Solar Water Pump Market
- Expansion Analysis of India Solar Water Pump Market
- Problems and Obstacles in India Solar Water Pump Market
- Competitive Landscape in the India Solar Water Pump Market
- Impact of COVID-19 and Demonetization on India Solar Water Pump Market
- Details on Current Investment in India Solar Water Pump Market
- Competitive Analysis of India Solar Water Pump Market
- Prominent Players in the India Solar Water Pump Market
- SWOT Analysis of India Solar Water Pump Market
- India Solar Water Pump Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the India Solar Water Pump Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. India Solar Water Pump Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in India Solar Water Pump Market
7. India Solar Water Pump Market, By Product (USD Million)
7.1. India Solar Water Pump Market Value Share and Forecast, By Product, 2023-2033
7.2. Surface Suction
7.3. Submersible
7.4. Floating
8. India Solar Water Pump Market, By End-User (USD Million)
8.1. India Solar Water Pump Market Value Share and Forecast, By End-User, 2023-2033
8.2. Agriculture
8.3. Water Management
8.4. Others
9. India Solar Water Pump Market, By Operation (USD Million)
9.1. India Solar Water Pump Market Value Share and Forecast, By Operation, 2023-2033
9.2. AC Pump
9.3. DC Pump
10. India Solar Water Pump Market Forecast, 2019-2033 (USD Million)
10.1. India Solar Water Pump Market Size and Market Share
11. India Solar Water Pump Market, By Product, 2019-2033 (USD Million)
11.1. India Solar Water Pump Market Size and Market Share By Product (2019-2026)
11.2. India Solar Water Pump Market Size and Market Share By Product (2027-2033)
12. India Solar Water Pump Market, By End-User, 2019-2033 (USD Million)
12.1. India Solar Water Pump Market Size and Market Share By End-User (2019-2026)
12.2. India Solar Water Pump Market Size and Market Share By End-User (2027-2033)
13. India Solar Water Pump Market, By Operation, 2019-2033 (USD Million)
13.1. India Solar Water Pump Market Size and Market Share By Operation (2019-2026)
13.2. India Solar Water Pump Market Size and Market Share By Operation (2027-2033)
14. India Solar Water Pump Market, By Region, 2019-2033 (USD Million)
14.1. India Solar Water Pump Market Size and Market Share By Region (2019-2026)
14.2. India Solar Water Pump Market Size and Market Share By Region (2027-2033)
14.3. North India
14.4. East India
14.5. West India
14.6. South India
15. Company Profile
15.1. Alpex Solar Pvt. Ltd.
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Aqua Group
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Bright Solar Pvt. Ltd.
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Crompton
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Eco Soach
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Ecozen Solutions
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Franklin Electric
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Lorentz
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Shakti Pumps
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
