Dublin, Dec. 12, 2016 /PRNewswire/ — Research and Markets has announced the addition of the “India Solar Water Pumping System Market (2017-2022): Market Forecast by Power Rating, Design Type, Drive Type, Applications, Regions and Competitive Landscape” report to their offering.
Currently, 26 million agricultural pumps are installed in India of which nearly 7 million pumps are diesel based and remaining are grid connected. However, due to unreliable grid supply and increasing diesel prices, solar water pumping system offers immense opportunities to replace conventional pumps.
According to research, India Solar Water Pumping System Market is projected to grow at a CAGR of 18.7% during FY 2017-22. The Ministry of New and Renewable Energy (MNRE) has set an ambitious target to install at least 10 lakhs solar water pumping systems in various states for irrigation and drinking requirements by 2020-21. Medium power (3.1 to 10 HP) AC submersible solar water pumps are most widely installed in the country, where majority of pumps are used for lift irrigation.
The Northern region accounted for the largest revenue share in the country in the year 2015-16, followed by Southern region. Rajasthan leads the market in terms of solar pump installations. During 2016-22, the western region is expected to witness large number of solar water pump installations.
Companies Mentioned:
- Alpex Solar Pvt. Ltd
- Bright Solar Pvt. Ltd.
- Claro Energy Pvt. Ltd.
- Kirloskar Brothers Limited
- Lubi Solar Pvt. Ltd.
- Shakti Pumps (India) Limited
- Tata Power Solar Systems Limited
- Topsun Energy Limited
- Waaree Energies Ltd.
India Solar Water Pumping System Market to Grow at 18% CAGR
