Saudi Arabia Solar Water Pumps Market, By Type (Submersible and Surface), By Capacity (Below 5 HP, 5-8 HP and Above 8 HP), By Application (Irrigation, Drinking Water, Industrial, and Others), By Operation (AC Pump and DC Pump), By Region, Competition Forecast & Opportunities, 2018-2028
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Water and Waste Management | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSaudi Arabia Solar Water Pumps Market, By Type (Submersible and Surface), By Capacity (Below 5 HP, 5-8 HP and Above 8 HP), By Application (Irrigation, Drinking Water, Industrial, and Others), By Operation (AC Pump and DC Pump), By Region, Competition Forecast & Opportunities, 2018-2028
| Forecast Period | 2023-2028 |
| Market Size (2022) | USD 23.12 Million |
| CAGR (2023-2028) | 9.39% |
| Largest Market | Northern & Central Region |
| Fastest Growing Segment | Drinking Water |
Saudi Arabia
Water and water purification techniques will be necessary with the growing rate of urbanization. Energy-efficient water pumps are necessary to maintain a steady water supply for the expanding metropolitan population. Irrigation equipment is in high demand in the agriculture industry. These pumps are a superb piece of agricultural and rural technology. It is a pump that can function even in the absence of an electrical grid. These elements are hence, fueling the market's expansion.
Shifting Towards Low Carbon Emission Technology Enhances the Market Growth in the Forecast Period
Massive cost reductions in renewable energy technology are encouraging the shift to cleaner, more sustainable energy systems, which is an aspect that has already started. Solar power increases environmental sustainability, disaster preparedness, and climate change mitigations to ease the cost of quickly phasing out coal across Saudi Arabia's systems and to meet objectives for low carbon emissions. There has been an upsurge in the usage of clean, renewable energy. In some cases, unsubsidized renewable energy has the potential to be less expensive than brand-new conventional generators. Therefore, these factors are responsible for driving the market growth of the Saudi Arabia Solar Water Pumps Market.
Rising Environmental Consciousness Towards Reducing the Reliance on Fuel Sources is Driving the Market Growth
Through 2028 the market for solar water pumps will be driven by the rising usage of these pumps in regions without access to the grid. For instance, with government support in the form of subsidies, more people are utilising solar pumps for irrigation because of unanticipated power outages. The industry is expanding as a result of government initiatives to promote the use of solar pumps and strict limitations on carbon emissions. Solar water pumps provide a variety of benefits that are speeding market’s growth, including improved efficiency, cost-effectiveness, simplicity of maintenance, extended working life, environmental friendliness, and a reduced dependency on fuels. The usage of solar water pumps for irrigation is being driven by the expansion of agricultural operations to fulfil the growing global food demand along with the requirement for a clean and fresh water source.
Lack of Knowledge Impacting the Saudi Arabia Market
Rural communities' lack of knowledge about solar pumps is likely to impede development. Many agricultural landowners and farmers are still ignorant of solar technology's capacity to produce power. Farmers are discouraged from switching to solar pumps due to the accessibility of electrical pumps and the reduced maintenance expenses associated with them. Thus, these elements are expected to limit market expansion.
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Market Segmentation
The Saudi Arabia Solar Water Pumps Market is divided into Type, Capacity, Application and Operations. Based on type, the market is divided into
Market Players
Major market players in the Saudi Arabia Solar Water Pumps Market
Recent Developments
- Sulzer Ltd.'s cutting-edge
engineering and manufacturing network, globally, allowed the business to
manufacture 289 high-efficiency desalination pumps in Saudi Arabia, transport
them, and put them into operation, in only 18 months. For all of the pump skids
to be delivered on time, different Sulzer plants had to work together due to
the short manufacturing timetable and the high quantity of pumps.
- In October 2022, Alfanar
announced plans to construct a solar project that would use both ground-mounted
and floating PV to power the Al Jubail 2 water desalination plant on Saudi
Arabia's east coast. The company has invested USD 319 million in the project.
- In April 2021, Larsen &
Turbo Construction obtained a contract for engineering, procurement, and
construction (EPC) from the consortium of ACWA Power and Electricity Holding
firm, which is a division of the Saudi Arabian Public Investment Fund, to build
1.5GW of solar PV projects in Saudi Arabia.
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018–
2021 |
|
Estimated Year |
2023 |
|
Forecast Period |
2024
– 2028 |
|
Quantitative Units |
Revenue in USD Million, and CAGR for 2018-2022 and 2024-2028 |
|
Report Coverage |
Revenue
forecast, company share, growth factors, and trends |
|
Segments Covered |
Type Capacity Application Operations |
|
Regional scope |
Northern
& Central Region, Southern Region, Eastern Region, Western Region. |
|
Key companies profiled |
Grundfos Saudi Arabia Company Ltd, WILO Pumps SAUDI ARABIA CO.
LTD., Sulzer Ltd, EBARA Pumps Saudi Arabia, ITT Saudi Co, KSB Pumps Arabia
Ltd., Lamah Co. Ltd, Xylem Saudi Arabia, United Park Co, and Flowserve
Corporation. |
|
Customization scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and purchase options |
Avail customized purchase options to meet your exact research
needs. Explore purchase options |
|
Delivery Format |
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request) |
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