The global solar pumps market was valued at US$ 1.1 Bn at the end of 2019 and is anticipated to surpass US$ 3.5 Bn during the forecast period. Solar pumps are witnessing immense penetration in the farming sector and it is anticipated to capture a significant chunk of the market share throughout the forecast period. A spurt in agricultural activities across the globe, coupled with high water demand for irrigation is set to drive the farming application segment. The demand for solar pumps in the farming sector is rapidly increasing and is anticipated to grow significantly in the near future as farming is one of the prime contributors to GDP in many regions globally. Moreover, solar pumps leave minimal environmental impact vis-à-vis other conventionally powered pumps that have observed prolific growth in the worldwide market of solar pumps. The newest report by Fact.MR estimates that the farming sector will account for more than 66% of the total global value share and is projected to grow at a value CAGR of 12.5% during the forecast period 2019-2029.
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Fact.MR’s study on the solar pumps market offers information divided into four key segments— type, capacity, application, and region.
This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
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The report covers following Solar Pumps Market insights and assessment that are helpful for all participants involved in the Solar Pumps Market:
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