Solar Water Pumps Market: Drivers & Restraints
Stringent government regulations to reduce carbon emissions released into the atmosphere is a major factor driving the solar water pumps market.
Favorable government incentive schemes to promote the installation of solar water pumps are also fueling the market.
However, the surface water pumps segment is also expected to witness significant growth during the forecast period, primarily due to increasing drip irrigation activities in developing economies in Asia Pacific and Middle East & Africa.
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Also, Several NGOs, through combined investments by farmers, have taken initiatives to install solar pumps in different parts of India.