The increasing investments by the government to eliminate the dependency on fossil fuel and reduce the emission levels of greenhouse gases have encouraged the deployment of solar pumps in the region to a large extent. For instance, the Morocco government is likely to invest USD 226 million in solar projects to serve agricultural growth and a significant number of pumps are expected to be installed by 2021.
According to the MarkNtel Advisors’ research report titled “Africa Solar Pump Market Analysis, 2020”, the CAGR of Africa Solar Pump market is expected to be more than 17% during 2020-25. The submersible solar pumps acquired the majority market share in the Africa Solar Pump market on an account of surging diesel prices and remote accessibility of grid electricity in the agriculture fields. Moreover, countries like Morocco which are dependent on groundwater for irrigation are aiming to boost the demand for submersible pumps, thus imposing a significant impact on the solar pump market in the region.
The rising investment in the agrarian projects in the countries such as South Africa regarding the installation of the solar pump is changing the market outlook of the solar pump. For instance, the African Development Bank (AfDB) approved USD 21.78 million grant to the Government of Sudan to promote the adoption of solar-powered irrigation pumps by approving the installation of 1,170 solar pumps in the country in 2019. Moreover, the growing government support in the form of tax and other subsidies along with rapid industrial development are estimated to aid in a swift market growth during the forecast period.
According to MarkNtel Advisors research report, the Africa Solar Pump market is highly fragmented. The market players in the Africa Solar Pump market are Grundfos, Cri Pumps, Cedar Solar, Lorentz, Franklin Electric, Mono, Sunculture, Karmsolar, Future Pump, etc. Through merger & acquisition, collaboration, partnership, etc. the companies are focusing to capture a greater market share in Africa.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Africa Solar Pump market?
2. What are the country wise industry size, growth drivers and challenges and key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Africa Solar Pump market?
4. Who are the key competitors or market players and how they perform in Africa competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Africa Solar Pump market study?