Africa Solar Pumps Market to Grow at a CAGR of around 19% during 2019-2024
Continuous growth in
agriculture, need for other water intensive industries coupled with growing
government support (tax and subsidies benefits) to bolster Africa solar pumps
market through 2024
According to a report published by TechSci Research on “Africa
Solar Pumps Market By Type, By Capacity, By Application, By Country,
Competition, Forecast & Opportunities, 2024”, Africa solar pumps market is
projected to grow at a CAGR of around 19% between 2019-2024. The growth of
Africa solar pumps market can be attributed to growing investments in
agricultural activities in the region. Factors like easy
finance by NGOs and government banks, introduction of NAMA program to support
new installation of solar water pumps in agriculture fields and development in
the industrial, residential and agricultural industry along with lower
operation and maintenance cost is further fueling growth in Africa pumps
market.
Browse market data Tables and Figures
spread through 110 Pages and an in-depth TOC on " Africa Solar Pumps Market "
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In terms of application, Africa solar
pumps market has been categorized into irrigation, drinking water, industrial
and others. Of all, irrigation category is the largest segment in Africa solar
pumps market on account of increasing
number of agricultural projects in the region. As the African countries
are witnessing surging demand for water, they must maintain high levels of
investment in water extraction to meet the demand, which in turn, is driving
the growth of the solar water pumps for irrigation.
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“Africa solar pumps market is
anticipated to witness significant growth during the forecast period. Increasing
demand for solar pumps is majorly due to the rapid industrialization and
increasing investments in agricultural projects in the region. Moreover, growth
in agriculture sector along with growing government support in the form of tax and subsidies would further
steer growth in Africa solar pumps market through 2024.” said, Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Africa Solar Pumps Market By Type, By Capacity,
By Application, By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future growth
potential of the Africa solar pumps market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in Africa solar pumps market.
About
TechSci Research
TechSci Research is a leading Africa
market research firm publishing premium market research reports. Serving 700 Africa
clients with more than 600 premium market research studies, TechSci Research is
serving clients across 11 different industrial verticals. TechSci Research
specializes in research-based consulting assignments in high growth and
emerging markets, leading technologies and niche applications. Our workforce of
more than 100 fulltime Analysts and Consultants employing innovative research
solutions and tracking Africa and country specific high growth markets helps
TechSci clients to lead rather than follow market trends.
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