San Francisco, California, May 09, 2018: The rising agricultural activities worldwide has fuelled the demand for improved irrigation techniques. This in turn has fuelled the demand for renewable energy-driven pumps. Against this backdrop, the global solar pumps market is forecast by TMR Research to record impressive growth between 2017 and 2025. In a report, titled “Solar Pumps Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” TMR Research shares valuable market intelligence for companies aiming for competitive advantage as well as consumers.
According to the report, stringent government regulations implemented over the last couple of years and aimed at curbing carbon footprint will bode well for the global solar pumps market. Because water pumps running on solar energy do not emit harmful gases, their demand if likely to rise in the coming years. Also farmers willing to invest in solar pumps receive government subsidies especially in developing countries. This is expected to encourage increased uptake of solar pumps.
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Regionally, the global solar pumps market can be segmented into North America, Asia Pacific, Europe, and Rest of the World. Among these regions, the demand from Asia Pacific is forecast to increase at a healthy pace. The rising focus on using renewable sources of energy especially in agricultural sector in countries such as India, China, Bangladesh, and Pakistan will create lucrative prospects for the market’s growth. Besides this, the demand for solar pumps is also expected to rise in the Middle East and Africa. Spurred by these factors, the global solar pumps market is expected to record growth at a positive pace in the coming years.
Some of the leading enterprises operating in the global solar pumps market are Lorentz, Shakti Pumps, USL Bright Solar, Grundfos, SunEdison, TATA Power Solar Systems Ltd., and CRI Pumps.