KSA Solar Pumps Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015 to 2026

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KSA Solar Pumps Market: By Pump Type (Submersible & Surface), By Application(Irrigation & Drinking Water), By Capacity (Below 15KW & Below Upto 250KW and By Geography (Central, Northern, Eastern, Western & Southern)

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Description

Kingdom of Saudi Arabia (KSA) Solar Pumps Market:

The Kingdom of Saudi Arabia (KSA) Solar Pumps market accounted for US 1,216.2 thousand in 2019 and is expected to grow at 9.6% CAGR over the forecast period Companies focus to Install Solar Water Pumps in the KSA. For instance, November 2020 Solartech installed a 22 kW AC solar pumping system in Saudi Arabia to irrigate a farm in the suburbof Riyadh In March 2018 Grundfos has signed a Memorandum of Understanding with the Saudi Council of Engineers (SCE). In addition, Strong support from the government to encourage renewable energy sources, like solar energy, and integration in various sectors, like agriculture for irrigation, Rapid development of agriculture in the KSA and Growing awareness among farmers/corporate farms to use PV based water pumping solutions are anticipated to promote the KSA Solar Pumps market over the forecast period. However, High Capital cost associated with solar Panel/solar Water Pumps and  Water Scarcity in the KSA for Agriculture are expected to limit the growth of Solar Pumps in the KSA market.

Adoption of Solar Energy based Agriculture is expected to offer lucrative opportunities to Solar pumps in the KSA

The Saudi government is focusing to adopt an energy conservation through energy price changes and fuel replacement strategies and supporting investments in renewable energy sources, like solar, to control the use of fossil fuel and CO2 emissions Such strategies are expected to be implemented in all sectors like industrial, agriculture, and others. Moreover, the government has set a plan to adopt renewable energy technologies (RETs) on a wide scale and it has been listed under vision 2030 program In addition, the Vision 2030 also focuses on localization of the manufacturing of renewable energy, industrial equipment sectors, and other sectors, including agriculture, in Saudi Arabia The Ministry of Agriculture and Water is ambitious towards the adoption of solar energy in agriculture filed particularly in date farms Furthermore, the government has a plan to install around 41 GW of solar capacity These scenarios are creating potential opportunities, in coming future, for agriculture machinery/equipment that run on solar energy, which include solar water pumps

Central Region Dominated the Market

In 2020, Central region is estimated to dominate the KSA Solar Pumps market followed by Northern, and Eastern. The largest share of Central region is majorly contributed to the existence of large agriculture production areas for different crop types like barley, Wheat, clover, watermelon, tomato, potato, and among others. In addition, this region registered with different types of wells occupied in large areas such as artesian wells, manual wells, flowing wells, these enabled the region to have large installations of pumps, including solar pumps, for agriculture and other domestic use. Such parameters made Central region/area to experience the largest share ~50% in 2020.

Competition Assessment

  • Falcon Pumps Pvt. Ltd
  • Jain Irrigation Systems Ltd
  • Lubi Industries LLP
  • Grundfos Group
  • Shenzhen Solartech Renewable
  • Symtech Solar Group
  • Lorentz
  • Shakti Pumps (India) Ltd
  • Mono Pumps Limited
  • Tata Power Solar Systems Ltd

Kingdom of Saudi Arabia (KSA) Solar Pumps market is showing promising growth in coming future owing to strong focus of companies for Solar Pumps in the Saudi agriculture sector. For instance,

  • Growing focus of companies to enter into solar sector and to introduce solar water pumps in the KSA by establishing distribution/trading partnerships. Such scenario is expected to create highly competitive environment in the KSA solar water pumps market in coming future
  • For instance, CRI Group, Oswal Pumps Ltd, KSB Pumps, Crompton (Solar Pumps), and among others are having solar pumps product portfolio, but they have not entered into KSA market and are focusing to increase solar water pump products access to farmers/farms in the KSA
  • Even Futurepump and Shenzhen Solartech Renewable Energy Co Ltd are also seriously looking for distribution/trading partnership in the KSA to supply their solar water pumps


Kingdom of Saudi Arabia (KSA) Solar Pumps Market Report Description:

Kingdom of Saudi Arabia (KSA) Solar Pumps market report gives comprehensive overview on Solar Pumps across the country with special emphasis on key regions/areas such as Central, Northern, Eastern, Southern, and Western. The report gives historical, current, and future market sizes (US$ thousands) based on pump type, capacity, application, and region. This report studies Kingdom of Saudi Arabia (KSA) Solar Pumps market dynamics to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the report includes, competition analysis to assess the market competition and stakeholder mapping (includes corporate farms, poultry/livestock farms, solar installers/integrates, agriculture equipment, traders, well drillers, and group of farmers. Moreover, PBI analyzed Kingdom of Saudi Arabia (KSA) Solar Pumps market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and product level analysis (submersible & surface). Key stakeholders of the report include suppliers, manufacturers, distributors/traders, and agriculture companies/farms, engaged in Kingdom of Saudi Arabia (KSA) Solar Pumps products.

Key Findings of the Report:

  • Kingdom of Saudi Arabia (KSA) Solar Pumps market is growing at a significant CAGR 9.6% over 2020 to 2026 due to rapid development of agriculture in the KSA
  • Based on region, Central accounted for largest market revenue share in 2020 and projected gain market revenue share over the forecast period
  • Agriculture pumps manufacturers are focusing to expand pumps product portfolio, including Solar pumps, in Kingdom of Saudi Arabia (KSA) market

Key Features of the Report:

  • The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
  • The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
  • The report outlines drivers, restraints, opportunities, and trends that are currently affecting the market
  • Key stakeholders mapping across the KSA in different categories like Agriculture farms, solar installers/integrates, well drillers, traders

 

Detailed Segmentation

Pump Type

  • Submersible
  • Surface

Application

  • Irrigation
  • Drinking Water

Capacity

  • Below 15KW
  • Up to 250KW

By Region/Area

  • Central
  • Northern
  • Eastern
  • Southern
  • Western

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