Global Solar Water Pumps Market stood at USD484.46 million in 2021 and is forecast to grow at a CAGR of 8.46% by 2027. A solar water pump system is basically an electrical pump system that is powered by one or more Photovoltaic (PV) panels. A typical solar pumping system includes a solar panel array that runs on electricity, which in turn powers a bore or ground pump. Moreover, it operates on the photovoltaic principle. PV (photovoltaic) systems absorb radiant solar energy and convert it into electricity while a solar pump is operating. This generated electricity for the entire system is used for many purposes such as irrigation, potable drinking water and community water supply.

Rising Environmental Consciousness and Growing Demand to Reduce Reliance on Fuel Sources

The growing use of solar water pumps in areas without grid electricity is propelling the solar water pump market through 2027. Farmers in India, for example, are increasingly using solar pumps for irrigation due to unplanned power outages, with government assistance in the form of subsidies. Such policies to encourage the use of solar pumps, combined with stringent government regulations on carbon emissions, are boosting the growth of the market. Numerous advantages provided by solar water pumps, such as higher efficiency, cost-effectiven