Dublin, Nov. 16, 2021 (GLOBE NEWSWIRE) -- The "Australian Solar Water Pumping System Market (2021-2027): Market Forecast By Power Rating, By Design Type, By Drive Type, By Application, By Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Australian Solar Water Pumping System Market size is projected to grow at a CAGR of 11.0% during the forecast period 2021-2027
The growth can be attributed to the Australian government and the state government's initiatives of providing rebates and incentives to support the farmers and the small producers under schemes like Renewable Energy Certificates, which includes Small-scale Technology Certificates (STCs) and Large-scale Generation Certificates (LGCs), water emergency infrastructure rebate, drought assistance programs, etc.
Schemes like National Water Emergency Infrastructure Rebate Scheme and Drought Assistance Loans provide incentives and rebates to help the primary producers set a water infrastructure and offer subsidized loans to ensure the sustainable future of the small producers, respectively, which would drive the solar water pump market size in Australia further.
Australian Solar Water Pumping System Market Synopsis
Australia's solar water pumping system market growth has been significantly owned to the supportive measures taken by Australia's federal government over the past few years. Further, the Clean Energy Council have deployed eco-friendly infrastructure, achieved renewable targets, and built strong ties with foreign nations such as China-Australia free trade agreement.
However, the outbreak of the COVID-19 left a slight negative impact on the solar pump market due to the supply chain disruptions, stricter inspections and export protocols, nationwide lockdowns. Moreover, with the rising electricity cost, increasing awareness amongst the small producers and farmers about the low operational cost of the solar pumps and the adverse climatic conditions which create water supply shortages.
The global pandemic obstructed the innovations and equipment's on the farms. Since the solar water pumping system involves a relatively higher upfront cost, farmers feel reluctant in installing the pumping systems in times of crisis. The constant support by the government would reduce the prices of the overall solar pumping system, which would further augment the demand in the forecast period.
Market by Power Rating Analysis
In terms of Power Ratings, the segments Upto 3 Hp and 3.1 to 10 Hp cumulatively have captured 70% of the market revenues in 2020, with 3.1 to 10Hp leading the market. 3.1 to 10 HP and below power rated solar water pumping systems in Australia would dominate in the coming years on account of increasing affordability and rising preferences towards multi-stage suction motors.
Market by Application Analysis
In Australia's Solar-Off Grid Water Pumping System Market, lift irrigation has led the overall market revenues accounting for more than 65% of the market revenues in 2020. With the supportive government initiatives towards harnessing renewable energy across all the economic activities and the rising exports, the segment would continue to rise in the coming years.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Australian Solar Water Pumping System Market Overview
- Australian Solar Water Pumping System Market Outlook
- Australian Solar Water Pumping System Market Forecast
- Australian Off-Grid Solar Water Pumping System Market Size and Market Forecast of Revenues and Volume, Until 2027F
- Historical Data of Australian Off-Grid Solar Water Pumping System Market Revenues and Volume, by Power Rating, for the Period 2016-2020
- Market Size & Forecast of Australian Off-Grid Solar Water Pumping System Market Revenues and Volume, by Power Rating, until 2027F
- Historical Data of Australian On-Grid Solar Water Pumping System Market Revenues and Volume, by Power Rating, for the Period 2016-2020
- Market Size & Forecast of Australian On-Grid Solar Water Pumping System Market Revenues and Volume, by Power Rating, until 2027F
- Market Drivers and Restraints
- Australian Solar Water Pumping System Market Trends and Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- Australian Solar Water Pumping System Market Share, By Players
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
- Market Scope and Segmentation
Companies Mentioned
- Davey Water Products Pty Ltd.
- Franklin Electric (Australia) Pty. Ltd
- Grundfos Pumps Pty Ltd.
- KSB Australia Pty Ltd.
- LJW Solar Pty Limited
- Lorentz
- Mono Pumps (Aust) Pty Ltd.
- Orange Pumps Pty Ltd.
- Rainbow Power Company Pty Limited
- Shakti Pumps Pty Ltd.
The report provides a detailed analysis of the following market segments:
By Power Rating
On-Grid solar Water Pumping System
- Up to 3 HP
- 3.1 to 7.5 HP
- Above 7.5 HP
Off-Grid solar Water Pumping System
- Up to 3 HP
- 3.1 to 10 HP
- 10.1 to 12.5 HP
- 12.6 to 19 HP
- Above 19 HP
By Design Type
- Surface
- Submersible
- By Drive Type
- AC Pump
- DC Pump
By Application
- Lift Irrigation
- Others (Drinking, livestock watering, municipal services, etc.)
By Regions
- Northern Region
- Southern Region
- Eastern Region
- Western Region
For more information about this report visit https://www.researchandmarkets.com/r/aaggkg
