India's Solar Pump Market Size was valued at USD 0.5 Billion in 2022. The India Solar Pump market industry is projected to grow USD 2.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15% during the forecast period (2023 - 2032). The main market drivers anticipated to propel the Solar Pump market in India are the improvement of solar infrastructure, implementation of solar pump projects, and advancements in solar pump technology.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market's growth in continuous technological advancements and innovations in solar pumping systems is influencing its growth. Developing more efficient and durable solar pump technologies has increased reliability and performance, making them a viable alternative to traditional diesel or electric pumps. Innovations like smart monitoring and control systems enable farmers to optimize water usage, track pump performance remotely, and enhance overall operational efficiency. Integrating Internet of Things (IoT) technology and data analytics further contributes to the evolution of smart solar pump solutions, providing farmers with real-time insights and decision-making tools.
Furthermore, the Indian Government is actively promoting the adoption of solar pumps as part of its broader initiatives to enhance agricultural productivity, ensure energy efficiency, and address water scarcity issues. Schemes such as the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) have played a pivotal role in incentivizing farmers to switch to solar-powered irrigation. Under PM-KUSUM, farmers receive financial assistance and subsidies for installing solar pumps, making them more affordable and attractive. It aligns with the government's commitment to sustainable development and deducting the carbon footprint of agricultural activities. Thus driving the Solar Pump market revenue.
The India Solar Pump market segmentation, based on product, includes Surface Suction, Submersible, and Floating. The submersible segment dominated the market mostly. They are designed to operate underwater, efficiently harnessing solar energy to meet various agricultural and irrigation needs. Submersible solar pumps are crucial in enhancing water accessibility and promoting sustainable farming practices, aligning with India's growing focus on renewable energy solutions for agriculture.
The India Solar Pump market segmentation, based on end-users, includes Agriculture, Water Management, and Others. The agriculture category generated the most income. Solar pumps have gained traction with a growing emphasis on sustainable and efficient water management in farming. They offer a reliable, eco-friendly irrigation solution addressing the agricultural sector's crucial water needs. This segment's prominence underscores the role of solar technology in bolstering agricultural practices while contributing to India's renewable energy goals.
The India Solar Pump market segmentation, based on operation, includes AC Pump and DC Pump. The AC Pump category generated the most income. These pumps, driven by alternating current, significantly harness solar energy for water-pumping applications. The widespread adoption of AC pumps underscores their efficiency and compatibility with solar power systems, contributing to the overall growth of the solar pump market in India.
Figure 1: India Solar Pump Market, by Operation, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Indian solar pump market is experiencing significant growth, driven by the country's commitment to renewable energy and agricultural development. The government's initiatives, such as the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) scheme, aim to promote solar-powered irrigation systems. India's vast agricultural sector sees solar pumps as a sustainable solution to address energy access challenges in remote areas. The market is witnessing increased adoption due to favorable policies, financial incentives, and the need for water-efficient farming practices. With abundant sunlight and a focus on sustainable agriculture, India's solar pump market is poised for further expansion, contributing to energy efficiency and rural development.
Leading market players are investing majorly in research and development to spread their product lines, which will help the Solar Pump market grow even more. The participants are also undertaking various strategic activities to spread their footprint with new market developments, including product launches, contractual agreements, mergers and acquisitions, major investments, and collaboration with other organizations. The Solar Pump industry must offer cost-effective items to spread and survive in a competitive and rising market climate.
The players in the Solar Pump market are attempting to raise market demand by investing in research and development operations, including Lorentz (Germany), C. R. I. Pumps Private Limited (India), Tata Power Solar Systems Ltd (India), Shakti Pumps (India) Ltd (India), Wenling Jintai Pump Factory Limited (China), Bright Solar Limited (India), Grundfos (Denmark), Symtech Solar (Oman), PhotonSolar.com (Australia), Urja Global Limited (India) and Kavita Solar Energy Private Limited (India).
In 2022:Solar pumps are becoming pivotal for the Indian government to fulfill its mission of increasing farmers' incomes. Rajasthan is one of the few states that has taken the initiative to popularize solar pumps on a large scale in rural areas, and the budget announcement is likely to provide further impetus.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.5 Billion |
| Market Size 2032 | USD 2.7 Billion |
| Compound Annual Growth Rate (CAGR) | 15% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, End-user, Operation, and Region |
| Countries Covered | India |
| Key Companies Profiled | Lorentz (Germany), C. R. I. Pumps Private Limited (India), Tata Power Solar Systems Ltd (India), Shakti Pumps (India) Ltd (India), Wenling Jintai Pump Factory Limited (China), Bright Solar Limited (India), Grundfos (Denmark), Symtech Solar (Oman), PhotonSolar.com (Australia), Urja Global Limited (India) and Kavita Solar Energy Private Limited (India) |
| Key Market Opportunities | Ongoing innovations in solar pump technology Rise in investments in improving infrastructure |
| Key Market Dynamics | Growth in the costs of grid electricity   Rising focus on agriculture |
India Solar Pump Market Highlights:
Frequently Asked Questions (FAQ) :
The India Solar Pump market size was valued at USD 0.5 Billion in 2022.
The market is projected to grow at a CAGR of 15% during the forecast period, 2023-2032.
The key players in the market are Lorentz (Germany), C. R. I. Pumps Private Limited (India), Tata Power Solar Systems Ltd (India), Shakti Pumps (India) Ltd (India), Wenling Jintai Pump Factory Limited (China), Bright Solar Limited (India), Grundfos (Denmark), Symtech Solar (Oman), PhotonSolar.com (Australia), Urja Global Limited (India) and Kavita Solar Energy Private Limited (India).
The submersible category dominated the market in 2022.
The agriculture category had the largest share of the market.
The AC pump category had the largest share of the market.
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