Report Overview

India Solar Water Pump Market is surging at a significant growth rate mainly due to the increased use of renewable energy sources for solar water pump systems that are utilized more frequently to enhance market value of the water being pumped.

India Solar Water Pump Market - Industry Trends & Forecast Report 2028

Over the past several years, the solar water pumping systems market in India has shown rapid expansion. Growing market demand for solar water pumps will be fueled by increasing use of renewable energy sources, particularly solar, and government programs such as the "Pradhan Mantri - Kisan Urja Suraksha’’. Farmers would be encouraged to adopt solar water pumps more frequently in the coming years due to subsidy provisions and lower operating costs of the systems. Despite the fact that the COVID-19 pandemic hampered the deployment of more pumps across the country, state and federal government initiatives, such as Maharashtra's Mukhyamantri Saur Krishi Pump Yojana and NREDCAP's solar program, are expected to drive the annual sales of solar water pumping systems in the years to come. In India, the majority of the market for solar water pumping equipment is subsidized, with direct sales accounting for a relatively tiny percentage of the market. Only 7.5HP solar water pumping systems are eligible for financial support. As a result, the market for solar-powered water pumping equipment has lately expanded at a faster rate. However, it is anticipated that during the next few years, a little drag would be created on market revenue growth by the declining prices of the solar water pumping systems due to increased market competition.

India Solar Water Pump Market - Overview

The Government of India announced its goal to provide drinking water and agriculture with solar water pumps totaling roughly 3,000 MW by 2021. Nearly 25,000 pumps were actually built in total in 2016. The government offers hefty subsidies that might be between 70% and 95 % of the pumps' original capital cost. Tamil Nadu, Gujarat, and Andhra Pradesh are assisting in the expansion of the India solar water pump market. With about 6,000 solar water pumps installed as of 2016, Andhra Pradesh is leading the market. Other notable states in India Solar Water Pump include Gujarat, Rajasthan, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, and Karnataka.

Growth Drivers

Government Support for Solar Energy

One of the popular uses of solar energy is the solar water pump. In order to increase the acceptance and adoption of solar powered water pump systems, various government bodies have established subsidies for solar types of water pumps. These subsidies reflect the shift toward clean renewable energy sources and clean energy. For instance, a subsidy on the pumps that aims to encourage their uptake to lessen the adverse environmental effects and reduce dependence on fossil fuel-powered pumps has a significant impact on the market in India. Also, in India, government programs such as the Solar Rooftop Phase II program, CPSU (Government Producers) Scheme - Phase II, and Pradhan Mantri KisanUrja Suraksha Evam Utthan Mahabhiyan Yojana (PM-KUSUM) allow increased electricity generation and solar inclusion across the country.

Solar Pump Use Boosting Livelihoods of Farmers

As product adoption rises, market players and innovators in the solar pump industry have an opportunity to capitalize on the economic potential of these pumps and improve the quality of life for rural communities. Major market players, such as Shakti Pumps and Bengal Renewables, make their business models more accessible and cheap for smallholder farmers. Several industry players view the acceleration of growth as a chance to fundamentally alter the market environment. Generic manufacturers operating in the market, for instance, sell solar pumps for as little as USD 200, while traditional players concentrate on large-scale irrigation products and are developing solar water pumps for small-scale irrigation, which is also gaining traction with farmers, and are interested in cross-selling of solar pumps.

India Solar Water Pump Market - Rising Demand

Increased usage of solar water pumps in the residential and agricultural sectors, growing government aid, and low maintenance are all factors contributing to the market's expected significant development in India between 2022 and 2028. Solar water pumps are becoming increasingly popular among customers due to their ease of installation. In India, irrigation and drinking water are the two main uses for solar water pumps. A 5hp (horsepower) solar water pump can deliver roughly 124,000 liters of water every day. 2016 saw the installation of 1,20,000 solar PV water pumping installations in India. Solar water pumps are widely used due to their numerous advantages, including their lower cost when compared to more expensive diesel water pumps and their enhancement of energy access in remote areas. The Indian government decided to provide substantial capital subsidies to farmers. Government incentives for the installation of solar water pumps in agricultural businesses are further boosting the growth of India Solar Pump Market.

Restraints

Initial High Costs and Low Level of Awareness

Solar water pumps' high price and low level of awareness may limit the market growth. The system's affordability and the current financial situation, which pose the biggest obstacles to the market's expansion, are the main causes of the limited uptake of solar water pumps. As a result, due to their high costs and unfavorable terms, many other solutions are less appealing to smallholder farmers. Furthermore, even with subsidies, the majority of these pumps are too expensive for smallholder farmers, who make up the majority of the Indian market for solar pumps. Additionally, a lack of knowledge about the technology impedes market expansion, as only 2% of India's smallholder farmers are aware of the government's pump subsidy program.

Impact of COVID-19 on India Solar Water Pump Market

During the COVID-19 pandemic, sales volume declined. COVID- 19's unprecedented and massive global health calamity had a tremendous impact both on families and the economy. The COVID-19-induced drop in solar power unit sales has harmed the Indian market for solar power pumps. India saw positive growth of close to 6% as a result of the efforts of important market participants who gave the industry crucial financial, technical, and operational support.

Indian Solar Water Pump Market - By Product

Surface pumps and submersible pumps are the two types of market segments. Which of these two types of pumps is more appropriate often depends on the water source. Due to its higher energy efficiency, the submersible pump will maintain its market dominance. In wells and boreholes, submersible pumps are fully submerged in the water source. Additionally, submersible pumps can be placed horizontally inside water reservoirs at a minimum depth of 0.5 m, securely fastened, and equipped with a cooling sleeve to adequately cool the motor, which increases efficiency by using less power to move the fluid via the pump's liquid path. Surface pumps are typically installed at a lake's edge or on the water's surface. They can pull water from roughly 6.5 vertical meters and are highly suited for moving water over long distances. Many countries are having difficulty mounting solar systems as they demand vast amounts of space. Because it is difficult to utilize in rural regions, firms are keen to find an alternate solution. As a result, they devise the concept of floating solar panels. This hydraulic floating PV technology enables standard PV panels to be put on water in places such as huge reservoirs, lakes, canals, irrigation, tailing ponds, and even hydroelectric dam reservoirs.

Indian Solar Water Pump Market - By Power Rating

The motor used in solar pumps might be DC Solar Pumps, which operate on direct current (DC), eliminating the need for an inverter or battery. AC is the second kind. Solar pumps employ alternating current (AC) motors, which means that the DC generated by the panels is converted to alternating current (AC) with the aid of an inverter. This conversion results in a loss of power from both generation and use. Among all power ratings, solar pumps with lower power ratings gained a significant market share. Furthermore, due to its affordability, robustness, and the bigger government incentives and subsidies granted on such pumps, the up to 3 HP sector is expected to grow at the fastest rate during the period in analysis.

Indian Solar Water Pump Market - By End-User Industry

The market is segmented by end-user industry into the agriculture, water treatment, and others. Farmers in India are the largest users of solar water pumps. The agriculture industry will continue to have a commanding market share due to the extensive usage of solar water pumps.

Indian Solar Water Pump Market - By Region

In India, the solar energy market is categorized into four geographic regions: North India, East India, West India, and South India. The Southern region had the most market share in 2021. Karnataka produced the most solar energy in the country in 2021, with around 7,355.17 MW. Other states aiding in the growth of the Indian solar energy sector include Andhra Pradesh (4,203 MW), Telangana (3,953.1 MW), and Tamil Nadu (4,475.2 MW).

Competitive Landscape

Alpex Solar Pvt. Ltd., Aqua Group, Crompton, Eco Soach, Ecozen Solutions, Franklin Electric, Shakti Pump Limited, Bright Solar Pvt. Ltd., and Lorentz are among the major players in the India solar water pump market. As technical advancements, service expansions, and mergers and acquisitions rise, so will vendor competition. Shakti Pump Ltd. is the main competitor in the solar water pump market in India. Apex International, Tata Power Solar, Greenmax Technology, Udhaya Semiconductors Ltd., and other companies compete with Shakti Pumps Ltd., in the market.

Recent Developments

Tata Power and C.S.C. collaborated to install solar-powered water pumps and microgrids. With the help of the cooperation, Tata Power will be able to put up distributed, small-scale solar power systems in rural areas and serve homes and businesses with electricity around-the-clock. While C.S.C. welcomes village-level business owners to the collaboration to offer quick, affordable service and serve rural consumers with a distributed solar power source.

Scope of the Report

By Product

• Surface Suction
• Submersible
• Floating

By End-User Industry

• Agriculture
• Water Management
• Others

 By Operation

• AC Pump
• DC Pump

  By Region

•  North India
•  East India
•  West India
•  South India