India Solar Water Pumping System Market Size & Growth Rate
The India Solar Water Pumping System Market is projected to grow at a CAGR of 7.0% during 2021–2027, driven by increased adoption of renewable energy, strong government support through schemes like PM-KUSUM, and rising farmer preference for low-cost, clean energy solutions.
India Solar Water Pumping System market report comprehensively covers the market by power rating, design type, drive type, applications, and regions. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics
India Solar Water Pumping System Market Synopsis
India Solar Water Pumping System Market has been exhibiting substantial growth over the past few years. Growing adoption of renewable energy resources, especially solar, along with government initiatives such as the "Pradhan Mantri - Kisan Urja Suraksha evam Utthan Mahabhiyaan (PM KUSUM)" scheme with the aim to install 20 lakh units of standalone Solar Water Pumping Systems by 2022, would act as driving forces behind growing market demand for solar water pumps. Further, subsidy provisions and lower operating costs of the Solar Water Pumping Systems would incentivize the farmers to increase the adoption of solar water pumps over the coming years. Strong preference among people regarding clean energy is also proliferating the Solar Water Pumping System Market in India. However, COVID- 19 pandemic impacted on the growth of the deployment of the pumps across the country, but state governments and central government policies such as Maharashtra's Mukhyamantri Saur Krishi Pump Yojana, solar program by NREDCAP, among others, are expected to increase the annual sales of the Solar Water Pumping Systems in the coming years.
According to 6Wresearch, India Solar Water Pumping System Market size is projected to grow at CAGR of 7.0% during 2021-27. India Solar Water Pumping Systems market is mainly subsidy driven, where direct sales accounts for a negligible share in the market. The financial aid is only extended for up to the 7.5HP solar water pumping category. Thus, the growth in the respective segment of solar-based water pumping system showed a better increase in past years. However, falling prices of the Solar Water Pumping Systems of the ratings mentioned above on the back of increasing competitiveness in the market are expected to create a moderate drag on the growth of market revenues over the coming years.
Market Analysis by Power Rating
Among power ratings, solar pumps with lower power ratings bagged the highest volume share in 2020. Moreover, up to 3 HP segment is projected to exhibit the highest growth rate in overall Australia Solar Water Pumping System Market Growth during the forecast period, attributed to its affordability, durability, and higher incentives and subsidies provided by the government on such pumps. Also, with the lower groundwater level, the demand for submersible Solar Water Pumping Systems outweighs the demand for its other counterpart. However, the surface solar water pumping segment is projected to exhibit high growth over the coming years.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Historical Data of India Solar Water Pumping System Market Revenues and Volume for the Period 2016-2020
- India Solar Water Pumping System Market Size and Market Forecast of Revenues and Volume, Until 2027
- Historical Data of India Off-Grid Solar Water Pumping System Market Revenues and Volume for the Period 2016-2020
- India Off-Grid Solar Water Pumping System Market Size and Market Forecast of Revenues and Volume, Until 2027
- Historical Data of India Off-Grid Solar Water Pumping System Market Revenues and Volume, by Power Rating, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping System Market Revenues and Volume, by Power Rating, until 2027F
- Historical Data of India Off-Grid Solar Water Pumping System Market Revenues and Volume, by Design Type, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping System Market Revenues and Volume, by Design Type, until 2027F
- Historical Data of India Off-Grid Solar Water Pumping System Market Revenues and Volume, by Drive Type, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping System Market Revenues and Volume, by Drive Type, until 2027F
- Historical Data of India Off-Grid Solar Water Pumping System Market Revenues and Volume, by Applications, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping System Market Revenues and Volume, by Applications, until 2027F
- Historical Data of India Off-Grid Solar Water Pumping System Market Revenues, by Regions, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping System Market Revenues, by Regions, until 2027F
- Historical Data of India Off-Grid Solar Water Pumping System Market Revenues of Regions, by Power Rating, for the Period 2016-2020
- Market Size & Forecast of India Off-Grid Solar Water Pumping System Market Revenues of Regions, by Power Rating, until 2027F
- Historical Data of India On-Grid Solar Water Pumping System Market Revenues and Volume for the Period 2016-2020
- India On-Grid Solar Water Pumping System Market Size and Market Forecast of Revenues and Volume, Until 2027F
- Historical Data of India On-Grid Solar Water Pumping System Market Revenues and Volume, by Power Rating, for the Period 2016-2020
- Market Size & Forecast of India On-Grid Solar Water Pumping System Market Revenues and Volume, by Power Rating, until 2027F
- India Solar Water Pumping System Market Drivers
- India Solar Water Pumping System Market Restraints
- India Solar Water Pumping System Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- India Solar Water Pumping System Market Share, By Players
- India Solar Water Pumping System Market Overview, Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereportprovides a detailed analysis of the following market segments:
By Power Rating
- Up to 3 HP
- 3.1-5 HP
- 5.1-7.5 HP
- 7.6-10 HP
- 10.1-12 HP
- 12.1-19 HP
- Above 19 HP
By Design Type
- Surface
- Submersible
By Drive Type
- AC Pump
- DC Pump
By Applications
- Irrigation and
- Others (Drinking Fountains Livestock Watering Municipal Service etc.)
By Regions
- Northern
- Eastern
- Western
- Southern
