Photovoltaic (PV) Submersible and Surface Pumps Market by End-User, by Applications, by Type, by Deployment & by Technology 2032
Photovoltaic (PV) Submersible and Surface Pumps Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 3.0 Billion by 2030, growing at a CAGR of 9.3% from 2024 to 2030.
Looking ahead, the outlook for the Photovoltaic (PV) Submersible and Surface Pumps Market from 2023 to 2033 appears promising, with several factors set to drive demand. The global push for sustainable energy solutions, increased government investments in solar infrastructure, and technological advancements in photovoltaic systems are expected to accelerate the adoption of PV pumps. The demand for solar-powered pumps is expected to rise in emerging economies, where rural electrification and agricultural applications are growing at an unprecedented rate. Moreover, the need for efficient irrigation systems, water supply systems, and drainage solutions will increase the reliance on solar-powered pumps, especially in remote areas where grid electricity is not available.
One of the major contributors to the expected demand from 2023 to 2033 will be the agricultural sector, where solar-powered pumps are used for irrigation in water-scarce regions. These pumps help farmers save on energy costs, increase productivity, and reduce reliance on diesel-powered pumps. Additionally, the integration of advanced technologies such as IoT (Internet of Things) and remote monitoring systems in PV pumps is set to improve their efficiency, making them even more attractive to end-users. These innovations will likely open new markets and enhance the existing ones.
The market dynamics also show a significant shift as environmental policies across the globe encourage the adoption of renewable energy technologies. In addition to agriculture, PV submersible and surface pumps are finding applications in industries such as mining, municipal water systems, and oil and gas, contributing to the market's expansion. Governments and private organizations are expected to continue providing incentives for solar-powered solutions, fostering further growth in this sector.
Get an In-Depth Research Analysis of the Global Photovoltaic (PV) Submersible and Surface Pumps Market Size And Forecast [2025-2032]
The Photovoltaic (PV) Submersible and Surface Pumps Market has witnessed significant growth from 2018 to 2022, driven by rising awareness of renewable energy, sustainability goals, and the need for energy-efficient solutions. As of 2022, the market was expanding rapidly, with the use of solar-powered pumps gaining momentum in agricultural, industrial, and municipal applications. The demand for these pumps surged as they offered an eco-friendly alternative to traditional energy-consuming pumps, particularly in areas with limited or no access to grid electricity. With the reduction in solar panel prices and the improvement in solar technology, the cost-effectiveness of photovoltaic (PV) submersible and surface pumps further contributed to this growth.
Who are the largest Global manufacturers in the Photovoltaic (PV) Submersible and Surface Pumps industry?
- 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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What are the factors driving the growth of the Global Photovoltaic (PV) Submersible and Surface Pumps Market?
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
What are the types of Photovoltaic (PV) Submersible and Surface Pumps available in the Market?
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
Which regions are leading the Global Photovoltaic (PV) Submersible and Surface Pumps Market?
- Global (United States, Global and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, 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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Detailed TOC of Global Photovoltaic (PV) Submersible and Surface Pumps Market Research Report, 2024-2032
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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