Global Photovoltaic (PV) Submersible and Surface Pumps Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.6 Billion by 2030, growing at a CAGR of 9.2% from 2024 to 2030.
In recent years, the photovoltaic (PV) submersible and surface pumps market has witnessed significant growth, driven by the increasing demand for sustainable water solutions in agriculture and drinking water applications. These solar-powered pumps offer an eco-friendly alternative to traditional diesel or electric pumps, reducing carbon emissions and operational costs.
According to recent market analyses, the global solar pump market was valued at USD 2.63 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2030. This growth is attributed to the rising awareness of renewable energy sources and the need for energy-efficient water pumping solutions.
PV pumps are categorized into two main types:
Submersible Pumps: Designed for deep water sources, these pumps are submerged in water and are ideal for extracting water from wells or deep reservoirs.
Surface Pumps: Positioned above the water source, these pumps are suitable for shallow water bodies and are commonly used for irrigation and water transfer purposes.
The agriculture sector remains a primary application area for PV pumps, as they provide a reliable water supply for irrigation, especially in remote areas lacking grid connectivity. Additionally, these pumps are increasingly utilized for providing drinking water in rural communities, enhancing access to clean water without relying on conventional power sources.
Several key players dominate the PV submersible and surface pumps market, including:
JNTech
JISL
Tata Power Solar
Grundfos
Lorentz
CRI Group
Shakti Pumps
Bright Solar
ADA
Hanergy
Symtech Solar
Dankoff Solar
Solar Power & Pump
MNE
Greenmax Tech
These companies are focusing on technological advancements and strategic partnerships to enhance their product offerings and expand their market presence.
In my experience working with PV pumps in agricultural settings, I've observed firsthand the benefits they bring to farmers. The reduction in fuel costs and the minimal maintenance required make them an attractive option for sustainable farming practices. Moreover, the ability to operate in off-grid locations ensures that water is available when and where it's needed most.
As the global emphasis on renewable energy and sustainable practices intensifies, the PV submersible and surface pumps market is poised for continued growth. Stakeholders in agriculture, water management, and rural development should consider the advantages of integrating these solar-powered solutions into their operations.
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JNTech
JISL
Tata Power Solar
Grundfos
Lorentz
CRI Group
Shakti Pumps
Bright Solar
ADA
Hanergy
Symtech Solar
Dankoff Solar
Solar Power & Pump
MNE
Greenmax Tech
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Photovoltaic (PV) Submersible and Surface Pumps Market
Agriculture
Drinking Water
Others
Based on Types the Market is categorized into Below types that held the largest Photovoltaic (PV) Submersible and Surface Pumps market share In 2023.
Submersible
Surface Pumps
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Photovoltaic (PV) Submersible and Surface Pumps Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Photovoltaic (PV) Submersible and Surface Pumps Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Photovoltaic (PV) Submersible and Surface Pumps Market, By Type
6. Global Photovoltaic (PV) Submersible and Surface Pumps Market, By Application
7. Global Photovoltaic (PV) Submersible and Surface Pumps Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Photovoltaic (PV) Submersible and Surface Pumps Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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