Solar Pump Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is expected to dominate majority revenue share of 35% by 2035, due to the flourishing agriculture industry. In consequence, there is a huge amount of land being irrigated in the region, which may boost the need for solar pumps. As per the United Nations Environment Program, farming contributes significantly to the rural economy in many regions of Asia Pacific, making up about 29% of GDP and 65% of all jobs.
In India, the installation of solar pumps during the previous five years is seen as beneficial to farmers and has the potential to generate income. Recently, under the PM-KUSUM project, India has built more than 290,000 solar water pumps for farmers to lessen environmental pollution while offering farmers access to affordable decentralized solar electricity and water security.
Additionally, the government of Japan in tends to grant future-generation flexible solar panels priority status by providing installation cost subsidies and incentives, which may drive the market demand.
The market in China may witness lucrative growth owing to the presence of the World’s top solar pump manufacturers including LARENS, WHC SOLAR, and WASSERMANN.
North America Market Insights
The North America in solar pump market is also predicted to have notable growth in the coming years. The need for effective water management strategies in rural and agricultural areas, growing concerns about environmental sustainability, and growing awareness of renewable sources are the main factors driving the market expansion in the region. Solar pumps are becoming more and more popular throughout the region as solar energy gets more dependable and affordable.
The solar pump landscape in the United States will expand significantly as groundwater is considered significant in many parts of the country. In particular, nearly 25% of the water supply in the United States comes from groundwater, from which more than 80 billion gallons of water are pumped to the surface every day. A report by the Government of Canada states that one third of all the Canadians and about 80% of the rural population consumes water provided by ground water.
