Increase in electricity demand and growth in adoption of clean energy are projected to escalate the market growth at a CAGR of 13.5%
Published Date : 18/04/2018
Latest market study on "Pumps in Solar Power Generation Market to 2025 by Plant Type (Linear Parabolic Trough, Power Tower, and Fresnel Plant); and Pump Type (Heat Transfer Fluid Pump and Molten Salt Pump) - Global Analysis and Forecast?, the pumps in solar power generation market is estimated to reach US$ 987.4 million by 2025 from US$ 365.1 million in 2017. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Browse market data tables and in-depth TOC of the Global Pumps in Solar Power Generation Market (2016-2025)
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Europe is the dominant region in the pumps in solar power generation market and this region is expected to continue its lead during the forecast period. Where, Spain dominated the worldwide demand for pumps with the increase in concentrated solar power (CSP) systems installation which is followed by United States. Few of the CSP plants located in the country are Termosol 2, Moron, Orellana, Palma del Rio II, and Manchasol-2. Moreover, European government's initiative for cost-effective power generation and distribution owing to the constantly rising electricity demand and its increasing prices also fueling the market growth. Asia-Pacific is expected to be the fastest growing region in pumps in solar power generation market owing to increasing focus of governments of various economies in Asia-Pacific towards renewable power generation.
Linear parabolic trough is leading segment, whereas power tower plant type technology is growing rapidly across the globe. According to the article published by the German Aerospace Center (DLR) in 2012, the number of operating power tower plants were accounted for 3.5%, however, under construction power tower plants accounted for 17.9% during the same year.
The major players operating in the pumps in solar power generation market are Ebara Corporation, Flowserve Corporation, Grundfos, Kirloskar Brothers Limited, KSB Se & Co. KGAA, Ruhrpumpen Group, Sulzer Ltd., The Weir Group Plc., Wilo Se, and Xylem Inc.
The report segments the global pumps in solar power generation market as follows:
Global Pumps in Solar Power Generation Market- By Plant Type
Linear Parabolic Trough
Global Pumps in Solar Power Generation Market- By Pump Type
Heat Transfer Fluid Pump
Molten Salt Pump
Global Pumps in Solar Power Generation Market- By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SA)