KSA Solar Pumps Market size valued USD 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 Â Water Scarcity in the KSA for Agriculture are expected to limit the growth of Solar Pumps in the KSA market. The 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).
Fastest Growing Market
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
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.