Global Solar Pumps Market 2016-2020 - High Initial Investment a Key Challenge
DUBLIN, March 24, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/34qhbw/global_solar) has announced the addition of the "Global Solar Pumps Market 2016-2020" report to their offering.
The global solar pumps market is expected to grow at a CAGR of 34.03% during the period 2016-2020.
The need for increasing agriculture productivity is driving technological developments in the global solar pumps market. Automating these pumps to carry out operations, such as pumping water for irrigation and livestock and fish farming, and ensure domestic water supply is gaining importance worldwide.
According to the report, developing countries such as China, India, and Bangladesh are taking measures to spread awareness about the benefits of renewable energy such as solar pumps for irrigation purposes. For instance, the Indian government is providing grants and subsidies to the country's farmers to purchase solar water pumping systems. In January 2016, the government announced an investment of $11 billion to set up solar pumps across the country. Such initiatives not only facilitate in reducing the use of conventional energy sources but also help in increasing the market penetration of solar pumps in the developing countries.
Further, the report states that solar pumps have high initial investment and negligible maintenance cost compared to diesel pumps. Diesel pumps involve recurring service and maintenance costs with little initial capital requirement. The high initial cost of solar pumps makes them unaffordable to farmers.
Key questions answered in this report:
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Bright Solar
- Shakti Pumps
- Tata Power Solar
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
For more information visit http://www.researchandmarkets.com/research/34qhbw/global_solar
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SOURCE Research and Markets