Report Description

Forecast Period

2025-2029

Market Size (2023)

INR 3,715 Crore

CAGR (2024-2029)

28.10%

Fastest Growing Segment

Submersible

Largest Market

Eastern and Northern India





Market Overview

India Solar Pumps Market has valued at INR 3,715 Crore in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 28.10% through 2029. Agriculture, a major contributor to India's economy, heavily relies on water for irrigation. Solar pumps offer a reliable and cost-effective solution for rural areas where grid electricity may be unreliable or unavailable. The demand for water in agriculture drives the adoption of solar pumps, especially in regions with limited access to conventional power sources. Solar pumps contribute to rural electrification by providing off-grid solutions for water pumping needs.

Key Market Drivers

Government Initiatives and Subsidies

One of the primary drivers propelling the growth of the solar pumps market in India is the extensive support and initiatives taken by the government. Recognizing the significance of sustainable and renewable energy sources, the Indian government has implemented various schemes and subsidy programs to promote the adoption of solar pumps. The Ministry of New and Renewable Energy (MNRE) has been at the forefront, offering financial incentives, capital subsidies, and favorable policies to encourage farmers and businesses to transition from traditional diesel or electric pumps to solar-powered alternatives.

Through schemes like the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM), the government aims to deploy solar pumps across the country, particularly in rural agricultural regions. These initiatives not only provide financial assistance but also address the challenges of unreliable electricity supply in rural areas. The combination of government incentives and the desire to reduce dependence on non-renewable energy sources has created a conducive environment for the widespread adoption of solar pumps in India.

Agriculture Sector's Demand for Sustainable Water Solutions

The agriculture sector, which forms the backbone of the Indian economy, is a significant driver for the solar pumps market. Traditional irrigation methods, reliant on conventional energy sources like diesel or grid-connected electricity, often face challenges such as high operational costs and inconsistent power supply. Solar pumps offer a sustainable and cost-effective alternative, enabling farmers to harness energy from the abundant sunlight to power water pumps for irrigation.

The increasing awareness among farmers about the environmental impact of traditional pumping systems and the desire to reduce operational expenses has fueled the demand for solar pumps. The ability of solar pumps to operate independently of the grid, coupled with their low maintenance requirements, makes them an attractive solution for farmers looking to enhance their agricultural productivity while minimizing the environmental footprint. As a result, the agriculture sector's evolving preference for sustainable water solutions is a key driver accelerating the adoption of solar pumps across India.

Technological Advancements and Cost Reduction

Technological advancements and the subsequent reduction in the overall cost of solar pump systems have played a crucial role in driving market growth. Over the years, there have been significant improvements in solar panel efficiency, pump design, and energy storage technologies. These advancements have resulted in more reliable and cost-effective solar pump solutions, making them increasingly accessible to a wider range of users.

The declining costs of solar panels, batteries, and associated components have contributed to a more favorable economic proposition for potential users. As the initial investment required for installing solar pumps decreases, the return on investment improves, further incentivizing individuals, farmers, and businesses to adopt solar-powered irrigation systems. This trend is expected to continue as technology continues to evolve, making solar pumps an economically viable and attractive choice for water pumping needs in India.


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Key Market Challenges

Initial Capital Investment and Financial Barriers

One of the primary challenges hindering the widespread adoption of solar pumps in the Indian market is the substantial initial capital investment required for installation. While solar pump systems offer long-term cost savings through reduced operational expenses and minimal reliance on external energy sources, the upfront cost can be a significant barrier for many potential users, especially small and marginal farmers.

The high capital expenditure associated with purchasing solar panels, inverters, and other necessary components often poses a financial challenge, particularly in regions where farmers may have limited access to credit or face uncertainties in income. Despite various government subsidy programs, the upfront investment remains a considerable obstacle. Addressing this challenge requires innovative financial models, such as pay-as-you-go schemes or partnerships with financial institutions, to make solar pump systems more affordable and accessible to a broader segment of the agricultural community.

Lack of Technical Awareness and Skill Gap

Another challenge impeding the growth of the solar pumps market in India is the lack of technical awareness and a skill gap among potential users. Solar pump technology involves various components and requires a basic understanding of solar power systems, maintenance procedures, and troubleshooting. In many rural areas, farmers may not be familiar with the intricacies of solar technology, leading to hesitancy in adopting these systems.

Efforts to bridge the technical awareness gap involve comprehensive training programs and awareness campaigns. These initiatives should not only focus on the benefits of solar pumps but also provide hands-on training for users to operate, maintain, and troubleshoot the systems. By empowering users with the necessary skills and knowledge, the adoption rate of solar pumps can be enhanced, and the apprehension associated with unfamiliar technology can be mitigated.

Inadequate Infrastructure and Grid Connectivity

The lack of adequate infrastructure, particularly in rural areas, poses a significant challenge to the deployment and effective operation of solar pumps in India. Many remote agricultural regions suffer from poor road connectivity, limiting the accessibility of these areas for installation and maintenance services. Additionally, the absence of a reliable and well-established electrical grid in some regions hinders the integration of solar pumps into the existing energy infrastructure.

Solar pumps, designed to operate independently of the grid, are well-suited for remote and off-grid locations. However, the lack of supporting infrastructure makes transportation of components and regular maintenance challenging. Addressing this challenge requires coordinated efforts from government bodies and private stakeholders to improve rural infrastructure, including roads, and to extend the reach of the electrical grid to ensure a reliable and supportive environment for the widespread adoption of solar pump systems in India.

Key Market Trends

Increasing Integration of Smart Technologies

An emerging trend in the India Solar Pumps Market is the growing integration of smart technologies to enhance the efficiency, monitoring, and control of solar pump systems. As the digital landscape advances, there is a noticeable shift towards incorporating Internet of Things (IoT) devices, sensors, and data analytics into solar pump installations. These technologies enable real-time monitoring of pump performance, weather conditions, and water usage, providing users with valuable insights for better decision-making.

Smart solar pumps can be remotely monitored and controlled, allowing users to optimize energy usage, schedule irrigation cycles, and detect potential issues promptly. This trend is particularly beneficial for farmers, as it offers a more intelligent and efficient approach to water management. Additionally, the data collected from these systems can be utilized for predictive maintenance, reducing downtime and overall operational costs. As the adoption of smart technologies continues to rise, the India Solar Pumps Market is witnessing a transformative trend towards more interconnected and data-driven solar pump solutions.

Focus on Hybrid Solar Pump Systems

A notable trend in the India Solar Pumps Market is the increasing focus on hybrid solar pump systems that combine solar energy with other power sources. Hybrid systems typically integrate solar panels with grid power or backup generators, providing a reliable and continuous power supply even during periods of low sunlight or during the night. This trend addresses the intermittency of solar power and enhances the overall reliability of water supply for agricultural and other applications.

Hybrid solar pump systems offer flexibility, allowing users to switch between solar and alternative power sources based on energy availability and requirements. This is particularly beneficial in regions where sunlight may be inconsistent or during periods of increased water demand. The integration of hybrid systems not only ensures a more stable water supply but also contributes to energy efficiency by utilizing solar power when available and seamlessly transitioning to other sources as needed. As the demand for reliable and uninterrupted water supply continues to grow, the trend towards hybrid solar pump systems is expected to gain further momentum in the Indian market, offering a balanced and sustainable approach to water pumping needs.

Segmental Insights

Type Insights

The Submersible segment emerged as the dominating segment in 2023. Agriculture remains a major driver for the submersible solar pumps market in India. The efficiency and suitability of submersible pumps for irrigation have made them a popular choice among farmers. These pumps are designed to be submerged directly into the water source, eliminating the need for extensive suction systems. This makes submersible solar pumps highly effective for drawing water from borewells, wells, and other underground sources.

The ability to efficiently lift water from considerable depths makes submersible solar pumps particularly well-suited for agricultural applications in regions where water tables are deep. Farmers are increasingly recognizing the benefits of submersible pumps in optimizing water usage and ensuring reliable water supply for crops, contributing to the growth of this segment.

The submersible solar pumps market in India is witnessing continuous technological advancements aimed at improving energy efficiency and overall performance. Innovations in pump design, motor technology, and solar panel efficiency are driving the evolution of submersible systems, making them more reliable and cost-effective.

One notable trend is the integration of brushless DC motors, which offer higher efficiency and longer operational life compared to traditional motor technologies. These advancements contribute to reducing energy consumption and operational costs, enhancing the appeal of submersible solar pumps for users seeking sustainable and economical water pumping solutions.


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Region Insights

East India & North India emerged as the dominating region in 2023, holding the largest market share. East India, comprising states like West Bengal, Bihar, Jharkhand, Odisha, and others, has a predominantly agrarian economy. The agricultural sector is a major consumer of solar pumps in this region. Government initiatives, such as PM KUSUM, have been instrumental in promoting the adoption of solar pumps in East India. These schemes provide financial incentives and subsidies, making solar-powered irrigation systems more accessible to farmers.

East India has several remote and off-grid areas where conventional electricity supply may be unreliable. Solar pumps, especially those designed for off-grid applications, address the water needs of such regions. The hilly terrains of states like Jharkhand and parts of Odisha, where grid connectivity is challenging, make solar pumps a practical solution for water pumping needs.

There is a growing awareness of environmental issues and a shift towards sustainable practices in East India. This has led to an increased interest in renewable energy solutions, including solar pumps. Farmers and communities are recognizing the long-term benefits of reducing carbon footprints and dependency on non-renewable energy sources.

North India, comprising states like Punjab, Haryana, Uttar Pradesh, and others, is known for its intensive agricultural practices. The demand for water for crop irrigation is high, making solar pumps a valuable asset for farmers. The need for reliable and energy-efficient water pumping solutions in states with extensive agricultural activities is driving the adoption of solar pumps.

Similar to East India, North India has been a focal point for government policies and subsidies promoting solar pump adoption. Schemes like PM KUSUM and state-specific initiatives aim to incentivize farmers and other users to switch to solar-powered irrigation systems. The availability of subsidies and financial support is a crucial factor influencing the decision-making process of adopting solar pumps in the region.

North India has been facing challenges related to groundwater depletion due to excessive extraction for agricultural purposes. Solar pumps, particularly those used for extracting water from deeper levels, play a role in sustainable water management. The emphasis on groundwater conservation and sustainable agriculture practices is driving the interest in solar pumps as an environmentally conscious alternative.

There is a concerted effort in both regions to raise awareness and educate farmers and users about the benefits of solar pumps. Awareness campaigns and training programs are helping bridge the knowledge gap and addressing any apprehensions related to adopting solar technology. In summary, while East India showcases the importance of off-grid solutions and sustainability, North India highlights the significance of intensive agricultural usage and government policies in driving the solar pumps market. The trends in both regions reflect a broader national movement towards sustainable and efficient water pumping solutions in the agriculture sector.

Recent Developments

  • Merger of Tata Power Solar Systems, Af-Taab Investment Business, and Coastal Gujarat Power Ltd. happened in 2020.

Key Market Players

  • Tata Power Solar Systems Ltd.
  • Shakti Pumps (India) Limited
  • Crompton Greaves Consumer Electricals Limited
  • C.R.I. Pumps Private Limited
  • Oswal Pumps Limited
  • Aquasun Solar Solutions
  • Unnati Pumps Pvt Ltd.
  • Solar Universe India Pvt. Ltd.
  • JP Solar Energy Pvt Ltd
  • Vikram Solar Limited

By Type

By Region

  • Submersible
  • Surface
  • South India
  • North India
  • West India
  • East India

 

Report Scope:

In this report, the India Solar Pumps Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • India Solar Pumps Market, By Type:

o   Submersible

o   Surface                 

  • India Solar Pumps Market, By Country:

o   South India

o   North India

o   West India

o   East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Solar Pumps Market.

Available Customizations:

India Solar Pumps Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

India Solar Pumps Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

3.    Executive Summary

4.    Global Pumps Market Outlook

4.1.  Assumptions and Rationale for Global Pumps Market

4.2.  Market Size & Forecast

4.2.1.                  By Value

4.2.2.                  By Sector (Industrial, Building Services, Agriculture)

4.3.  Market Share & Forecast

4.3.1.                  By Region

4.3.1.1.      Asia-Pacific Pumps Market Analysis

4.3.1.2.      Europe Pumps Market Analysis

4.3.1.3.      North America Pumps Market Analysis

4.3.1.4.      Middle East & Africa Pumps Market Analysis

4.3.1.5.      South America Pumps Market Analysis

5.    Global Agricultural Pumps Market Outlook

5.1.  Market Size & Forecast

5.1.1.                  By Value

6.    India Pumps Market Outlook

6.1.  Assumptions and Rationale for India Pumps Market

6.2.  Market Size & Forecast

6.2.1.                  By Value

6.2.2.                  By Sector (Industrial, Building Services, Agriculture)

6.3.  Market Share & Forecast

6.3.1.                  By Type (Centrifugal Pumps, and Positive Displacement Pumps)

7.    India Agricultural Pumps Market Outlook

7.1.  Market Size & Forecast

7.1.1.                     By Value

8.    India Solar Pumps Market Outlook

8.1.  Market Size & Forecast

8.1.1.                     By Value

8.2.  Market Share & Forecast

8.2.1.                     By Type (Submersible & Surface)

8.2.2.                     By Region (North India, East India, South India, West India)

8.3.  Market Share, By Company (Under PM-KUSUM Scheme), FY2022 & FY2023

9.    Market Dynamics

9.1.  Drivers

9.2.  Challenges

10. Market Trends and Developments

11. Policy and Regulatory Landscape

11.1.        Off-grid Solar PV Applications Programme

11.2.        PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) Scheme

11.3.        Current Schemes by State Government

12. India Economic Profile

13. Company Profiles (Global)

13.1.        KSB SE & Co. KGaA

13.1.1.                 Business Overview

13.1.2.                 Key Financials and Revenues

13.1.3.                 Key Personnel/Contact Person

13.1.4.                 Headquarters Address

13.1.5.                 Key Product Offerings

13.2.        Grundfos Holding A/S

13.2.1.                 Business Overview

13.2.2.                 Key Financials and Revenues

13.2.3.                 Key Personnel/Contact Person

13.2.4.                 Headquarters Address

13.2.5.                 Key Product Offerings

13.3.        Kirloskar Brothers Limited

13.3.1.                 Business Overview

13.3.2.                 Key Financials and Revenues

13.3.3.                 Key Personnel/Contact Person

13.3.4.                 Headquarters Address

13.3.5.                 Key Product Offerings

13.4.        Bernt Lorentz GmbH & Co. KG

13.4.1.                 Business Overview

13.4.2.                 Key Financials and Revenues

13.4.3.                 Key Personnel/Contact Person

13.4.4.                 Headquarters Address

13.4.5.                 Key Product Offerings

13.5.        Adpower FZCO

13.5.1.                 Business Overview

13.5.2.                 Key Financials and Revenues

13.5.3.                 Key Personnel/Contact Person

13.5.4.                 Headquarters Address

13.5.5.                 Key Product Offerings

13.6.        China Samking Solar Pump

13.6.1.                 Business Overview

13.6.2.                 Key Financials and Revenues

13.6.3.                 Key Personnel/Contact Person

13.6.4.                 Headquarters Address

13.6.5.                 Key Product Offerings

13.7.        Novergy Energy Solutions Pvt. Ltd.

13.7.1.                 Business Overview

13.7.2.                 Key Personnel/Contact Person

13.7.3.                 Headquarters Address

13.7.4.                 Key Product Offerings

13.8.        Franklin Electric

13.8.1.                 Business Overview

13.8.2.                 Key Financials and Revenues

13.8.3.                 Key Personnel/Contact Person

13.8.4.                 Headquarters Address

13.8.5.                 Key Product Offerings

13.9.        Stanley Black & Decker, Inc.

13.9.1.                 Business Overview

13.9.2.                 Key Financials and Revenues

13.9.3.                 Key Personnel/Contact Person

13.9.4.                 Headquarters Address

13.9.5.                 Key Product Offerings

13.10.     Glynncorp Electrical

13.10.1.              Business Overview

13.10.2.              Key Financials and Revenues

13.10.3.              Key Personnel/Contact Person

13.10.4.              Headquarters Address

13.10.5.              Key Product Offerings

14. Company Profiles (India)

14.1.        Tata Power Solar Systems Ltd.

14.1.1.                 Business Overview

14.1.2.                 Key Financials and Revenues

14.1.3.                 Key Personnel/Contact Person

14.1.4.                 Headquarters Address

14.1.5.                 Key Product Offerings

14.2.        Shakti Pumps (India) Limited

14.2.1.                 Business Overview

14.2.2.                 Key Financials and Revenues

14.2.3.                 Key Personnel/Contact Person

14.2.4.                 Headquarters Address

14.2.5.                 Key Product Offerings

14.3.        Crompton Greaves Consumer Electricals Limited

Business Overview

14.3.1.                 Key Financials and Revenues

14.3.2.                 Key Personnel/Contact Person

14.3.3.                 Headquarters Address

14.3.4.                 Key Product Offerings

14.4.               C.R.I. Pumps Private Limited

14.4.1.   Business Overview

14.4.2.   Key Financials and Revenues

14.4.3.   Key Personnel/Contact Person

14.4.4.   Headquarters Address

14.4.5.   Key Product Offerings

14.5.               Oswal Pumps Limited

14.5.1.   Business Overview

14.5.2.   Key Financials and Revenues

14.5.3.   Key Personnel/Contact Person

14.5.4.   Headquarters Address

14.5.5.   Key Product Offerings

14.6.               Aquasun Solar Solutions

14.6.1.   Business Overview

14.6.2.   Key Personnel/Contact Person