DUBLIN--(BUSINESS WIRE)--The "Africa Solar Pumps Market By Type (Submersible & Surface), By Capacity (Below 5 HP; 5 HP; 5-8 HP & Above 8 HP), By Application (Irrigation, Drinking Water, Industrial & Others), By Country, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.

The African solar water pump market was valued at $ 6.6 million in 2018 and is projected to grow at a CAGR of around 19% to reach $ 18 million by 2024.

The country registered substantial growth in terms of number of new installations, predominantly attributed to decreasing prices of PV panels and government subsidy over the past few years. Easy finance by NGOs and government banks is boosting the confidence of small-scale farmers, which is further propelling growth in the African solar water pump market.

In terms of type, the African solar pumps market is categorized into submersible and surface. During the forecast period, lower capacity submersible pumps are anticipated to account for majority of the market share on the back of increasing diesel price and poor availability of grid electricity in the agriculture fields.

Based on countries, the African solar pumps market is categorized into Morocco; Ethiopia; Kenya; South Africa and Egypt. In Morocco, NAMA program supports new installation of solar water pumps in agriculture fields owing to which the country's solar pump market is anticipated to grow at a swift rate during the forecast period. The key players in the African solar pumps market are CRI Pumps, Grundfos, Cedar Solar, Lorentz, Franklin Electric Pumps, Sun Culture, among others.

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 Related Topics: Pumps

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 Related Topics: Pumps



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