Dublin, Jan. 02, 2019 (GLOBE NEWSWIRE) -- The "Africa Solar Water Pump Market (2018-2024): Market Forecast by Power Rating, by Design Type, by Drive Type, by Countries and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Solar Water Pump System market revenues are anticipated to grow at a CAGR of 20% during 2018-24. Morocco Government is likely to invest $233 million in solar projects to serve agricultural growth and significant number of pumps are expected to be installed over the next six years. Morocco accounted for the largest revenue share in African market in 2017 followed by Ethiopia.
Africa Solar Water Pump market had registered substantial growth in terms of number of new installations, predominantly attributed to decreasing price of PV panels and government subsidy over the past few years. Easy finance by NGO's and government banks boosted the small scale farmer confidence which have bolstered the Africa Solar Water Pump market. In Morocco, NAMA program supports new installation of solar water pump in agriculture fields. During the forecast period, lower capacity submersible pumps with DC motor would account for majority of the market share on the back of increasing diesel price and poor availability of grid electricity in the agriculture fields.
Lower power (Upto 3 HP) AC submersible solar water pumps were most widely installed in the region in 2017, where majority of the pumps were deployed for irrigation of the agricultural fields.
The report thoroughly covers the solar water pump system market by power ratings, design, applications and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Markets Covered
The report provides detailed analysis of the following market segments:
By Power Rating:
- Upto 3 HP
- 3.1 to 10 HP
- Above 10 HP
By Design Type:
- Surface
- Submersible
By Drive Type:
- AC Motor
- DC Motor
By Applications:
- Agriculture
- Domestic
By Countries:
- Tanzania
- Ethiopia
- Kenya
- South Africa
- Tunisia
- Egypt
- Ghana
- Rest of Africa
Companies Mentioned
- CRI Pump
- Grundfos
- KarmSolar
- Lorentz
- Mono
- SunCulture
For more information about this report visit https://www.researchandmarkets.com/research/bzqxwx/africa_solar?w=12
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.