Professional Documents
Culture Documents
Pump Market
(Major Focus on split fountains)
1. Industry analysis
The Global Solar Water Pumps Market reached a valuation of USD 1.80 billion in 2022. It is
projected to surpass USD 4.50 billion by 2032, progressing at a CAGR of 9.7% during 2023-
2032.1. On the other hand, the North America solar water pumps market accounted for USD
0.687 billion in 2021 and is expected to exhibit significant growth. The COVID-19 pandemic
has negatively impacted the global market, with a decline of -18.1% in 2020 as compared to
the average year-on-year growth during 2017-2019.
Solar Water Pumps Market Size to Surpass USD 4.5 Billion by (globenewswire.com)
Market Drivers
1
Solar Water Pumps Market Size to Surpass USD 4.5 Billion by (globenewswire.com)
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NORTH AMERICAN SOLAR PANEL WATER PUMP MARKET
• Increased operational efficiency of solar panels and water pump systems brought by
Innovative technologies.
• Increasing Demand for Drinking Water in Public Places to Favor Market Expansion
Capital costs, or the upfront developing and manufacturing solar pumps can be high. Higher
construction costs might make financial institutions more likely to perceive renewables as
risky, lending money at higher rates and making it harder for utilities or developers to
justify the investment. The costs associated with solar pump development and
manufacturing include research and development costs, manufacturing equipment costs,
and raw material costs.
Technology challenges
Solar pump technology is constantly evolving, and it can be difficult for new companies to
keep up with the latest trends. This is because solar pump technology is a complex field
that requires a deep understanding of renewable energy, engineering, and fluid mechanics.
There are a number of established companies that operate in the solar pump industry.
These companies have a strong track record and a loyal customer base. This can make it
difficult for new companies to compete against number of advantages over new companies,
including:
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Market segmentation
Based on pump type, the market is segmented into centrifugal pump and positive
displacement water pump, among others.
On the basis of driving force, the market is bifurcated into electric driven and engine driven.
By distribution channel, the market is categorized into direct sales and indirect sales.
Centrifugal pumps account for a large share of the market, as they are considered to be
highly energy efficient which reduces the short-term cost and also reduces the strain on the
energy systems. The size of the centrifugal pump is quite small, but the output produced is
same as the other pumps. Additionally, the output obtained is consistent and steady, which
is further increasing the demand for centrifugal pumps, ultimately leading to the growth of
the water pump market.
Industry Leaders
Alpine Corporation
https://www.alpine4u.com/
http://www.wichitapumpandsupply.com/
Wichita Pump & Supply Co is one of the best providers of premium-quality water pumps.
They manufacture pumps for drainage, irrigation, luxury fountain or swimming pool. Their
brands include Aermotor, Bell & Gossett, Berkeley, Burks, Chem-Tech, Jabsco, Simer, Little
Giant, Pulsafeeder, and Zoeller.
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NORTH AMERICAN SOLAR PANEL WATER PUMP MARKET
https://www.solardcpumps.com/
All the units are manufactured under ISO, Key mark, SRCC, CSA, UL & CE specifications and
all their thermal & Pump Systems units are warranted against for any manufacturing
defects. The primary company objective is to be a world-class market leader in Solar
Alternatives. Its brands include
Nass Solar Deep Well Pumpm #4 to #12, Nass #500 Solar Pool Pump, Nass #900 Solar Pool
Pump, Nass #1200 Solar Pool Pump, Nass #2200 Solar Pool Pump, Nass #2200X Solar Pool
Pump
Grundfos
https://www.grundfos.com/
Grundfos is the largest pump manufacturer in the world, based in Denmark, with more than
19,000 employees globally and an annual production of more than 16 million pump units,
circulator pumps (UP), submersible pumps (SP), and centrifugal pumps (CR). Grundfos also
produces electric motors for the pumps as well as electric motors for separate
merchandising. Grundfos develops and sells electronics for controls for pumps and other
systems.
Xylem
https://www.xylem.com/en-us/
Xylem is a global water technology provider helping customers solve the world's toughest
water challenges across utility, industrial, commercial, and residential markets worldwide.
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NORTH AMERICAN SOLAR PANEL WATER PUMP MARKET
Over the last 100+ years, their unique combination of innovative products and services,
proven expertise, and unmatched customer support have been helping to create a more
water-secure and resilient world.
Across the water cycle, their innovative solutions use less energy, reduce operating
expenses, and support sustainability efforts.
Traditional companies in the energy sector are reinventing themselves through a dual effort
to digitize their legacy businesses and create new enterprises. Top-performing companies
in various industries divide their capital evenly between transforming their core businesses
and developing new ones.
Traditional pump manufacturers such as Goulds Pumps, ITT Goulds Pumps, and Flowserve
also offer solar pumps in their product lines. These companies are competing with the
industry leaders listed above by focusing on developing solar pumps that are reliable,
durable, and easy to maintain.
There are a number of entrepreneurial teams doing well in the solar pump industry in
North America. One example is SunWize Technologies (https://www.sunwize.com/) a
Canadian company that develops and manufactures solar pumps for irrigation and other
applications and has won numerous awards for its innovative technologies. The company
has manufacturing and distribution hubs serving the West Coast and Eastern US where it
offers complete photovoltaic power solutions from pre-assembled and custom-engineered
systems to the manufacture of specialty solar modules for OEM battery-operated products.
SunWize’s products are used by customers in over 50 countries around the world
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NORTH AMERICAN SOLAR PANEL WATER PUMP MARKET
Solar pumps and split fountains are a popular choice for garden water features, as they are
relatively inexpensive to operate and maintain. However, there are a number of other
similar products available on the North American market, including:
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Residential split fountains Commercial split fountains Industrial split fountains 4th Qtr
Category Percentage
Residential split fountains 35%
Commercial split fountains 25%
Industrial split fountains 20%
Outdoor split fountains 20%
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NORTH AMERICAN SOLAR PANEL WATER PUMP MARKET
60000
50000
40000
30000
20000
10000
0
Residential Commercial industrial Outdoor
Category Sale
volume
Residential 49000
Commercial 35000
Industrial 28000
Outdoor 28000
Note: All sales volumes were obtained from Amazon through the Amazon Seller Central API.
Advantages
• Solar pumping systems are versatile, and can be used across a wide range of
applications
• Uses control electronics that facilitate automatic operation
• Low maintenance and operating costs compared to traditional water pumping
systems
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NORTH AMERICAN SOLAR PANEL WATER PUMP MARKET
• They are environmental friendly which is arguably its most significant advantage.
• A solar powered water pump system has a more extended lifetime than diesel-
powered water supply systems, which are prone to corrosion
Disadvantages
• Homeowners and Renters: This include both homeowners with yards and renters
with outdoor spaces, as split fountains can be suitable for various property types.
• Age Group: Solar split fountain users may span various age groups, but there could
be a higher concentration of individuals in the 25-55 age range who are more likely
to invest in home and garden decor.
• Urban and Suburban Dwellers: Users can be both urban and suburban residents,
as people from both settings seek to improve their outdoor areas.
• Outdoor Enthusiasts: The target users are people with a genuine interest in
spending time outdoors, gardening, and enhancing their outdoor aesthetics.
• E-commerce Shoppers: Since your sales channels mainly rely on Amazon, your
users are likely comfortable with online shopping and have an Amazon account.
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Users of split fountains have the following needs in their usage scenarios:
• Aesthetic Appeal: Users want split fountains that enhance the visual appeal of their
outdoor spaces and create a relaxing atmosphere.
• Easy Installation: Users desire split fountains that are easy to set up without the
need for specialized tools or extensive technical knowledge.
• Durability: Users look for fountains that can withstand different weather conditions
and have a long lifespan.
• Low Maintenance: Users prefer fountains that require minimal maintenance and
cleaning.
• Customization: Some users may seek fountains that allow for personalization and
fit well with their existing decor.
• Difficult Installation: Most users struggle with the installation process, leading to
frustration and delays in enjoying their fountains.
• High Maintenance: Fountains that are hard to clean and require frequent
maintenance can be a source of dissatisfaction.
• Limited Durability: Users may be disappointed if their fountains do not last as long
as expected, leading to a need for replacements.
• Limited Options: Users might not find the variety they desire in terms of design and
customization options.
• Cost: Some users may find split fountains to be expensive, which can deter them
from making a purchase.
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How to Address These Pain Points and Dissatisfaction, Users' Current Solutions
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2. Durability and Warranty: Ensuring the durability of the fountains and offering a
generous warranty could alleviate user concerns about the longevity of the product.
This will also reduce the need for frequent replacements.
3. Design and Customization: Providing a wide range of design options and the
ability to customize fountains could attract users looking for unique and
personalized outdoor decor.
SWOT Analysis
Strengths:
Weaknesses:
• Lack of awareness of solar pumps in rural areas hampers the growth of the solar
pump market.
• High initial investment cost can be a barrier for many potential customers.
• Solar pumps depend on sunlight, so they may not be as effective in regions with less
sunny days.
Opportunities:
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• Favorable incentives and subsidies from the government can boost the installation
of solar water pumps.
Threats:
PEST Analysis:
Political Factors:
• Government policies play a crucial role in the growth of the solar water pump
market. Cohesive government policies, increasing need for alternative energy
sources, and increasing renewable energy generation are major factors driving the
market.
• Government subsidies to farmers and solar pump manufacturers, especially in
emerging economies, are expected to drive the solar water pump systems market.
• Supportive government incentives and tax rebates over the installation of solar
water pump systems are expected to drive the market.
Economic Factors:
• The Global Solar Water Pumps Market reached a valuation of USD 1.80 billion in
2022. It is projected to surpass USD 4.50 billion by 2032, progressing at a CAGR of
9.7% during 2023-2032.
• The North America solar water pumps market accounted for USD 0.687 billion in
2021 and is expected to exhibit significant growth.
• The COVID-19 pandemic has negatively impacted the global market, with a decline
of -18.1% in 2020 as compared to the average year-on-year growth during 2017-
2019.
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NORTH AMERICAN SOLAR PANEL WATER PUMP MARKET
Social Factors:
• With the rise in demand for reliable and clean water supply and agriculture
activities, it is anticipated to increase the product demand in rural areas.
• The COVID-19 outbreak has resulted in disruptions of importing solar cells and
modules from Chinese companies.
• Increasing urbanization, the need for clean and potable water, shortage of electricity
and fuel, and rising demand for solar pumps in domestic applications are some of
the other factors that are estimated to fuel the market growth.
Technological Factors:
• Solar water pumps are one of the most capable applications of solar energy, which
can be effective in rural and remote regions.
• Submersible pumps, designed to pump water from deeper wells where surface
pumps cannot be used, are expected to drive the market.
• Advancements in technology, particularly in the design and manufacture of solar
panels, are influencing the performance and efficiency of solar water pumps.
5. Recommendations:
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Differentiation Strategies:
• Product Features: Offering unique features such as a high flow rate, battery backup,
or multiple nozzle options can help differentiate your products.
• Quality and Durability: Ensuring high-quality, durable products can set your brand
apart. For instance, using glass panels for better light transmittance and energy
conversion.
• Customer Service: Providing excellent customer service, including installation
guidance and after-sales support, can enhance customer satisfaction and loyalty.
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Sources
• https://www.globenewswire.com/news-
release/2023/08/17/2726849/0/en/Solar-Water-Pumps-Market-Size-to-Surpass-
USD-4-5-Billion-by-2032-with-9-7-CAGR.html
• https://www.marketdataforecast.com/market-reports/north-america-solar-
pumps-market
• https://www.precedenceresearch.com/solar-pump-market
• 2023 Solar Incentives and Rebates by States (Ranked Top 9) (ecowatch.com)
• https://www.mckinsey.com/industries/oil-and-gas/our-insights/traditional-
company-new-businesses-the-pairing-that-can-ensure-an-incumbents-survival
• https://finance.yahoo.com/news/north-america-outdoor-drinking-fountain-
120000256.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v
&guce_referrer_sig=AQAAACiSe7VujkmyxZsJ47LUG9FVgG89fruloGf6-
29vgyXuUePftGikX-pUJCaQODmXc7X-
u2aGCxWXS1Fs3K662ws43sVRS_mytsP6JkSBW45gYzEiNMv3TBzTgkoR7RBHg7Tz
mZs3c1p4vEFJgSiVkiNVfdJU9b5WcO89QuoFkn7u
• https://www.ucsusa.org/resources/barriers-renewable-energy-technologies
• https://www.alliedmarketresearch.com/outdoor-drinking-fountains-market-
A16179
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