The global solar power generation pumps is set to grow to US$ 987.4m by 2025. This will be an increase from 2017s US$ 365.1m. The demand for pumps in solar power generation has been attributed to the increased demand for clear energy over the last couple of years.
Of the available plant types, the linear parabolic trough is gradually taking over the global pumps in solar power generation market. This is in terms of both number of projects and overall global installed capacity.
Furthermore, the competitive dynamics in the pumps in solar power generation market is expected to change over the coming years. This, according to research findings, has been attributed to the entry of new players.
Currently, a huge number of the companies in this market are located in the North America region as well as in the Europe. On the other hand, there is significant presence of market players in some of the developing countries particularly in Asia-Pacific.
According to research, developed regions such as Europe and North America have high pumps demands. This is due to the high number of concentrated solar power (CSP) systems present in the regions.
Similarly, developing economies such as Asia-Pacific and Middle East are also witnessing an increase in the installation of these pumps. Spain, United States, China, India, and South Africa hold substantial global market share, with Spain holding first position.
Of the types, the molten salt pumps are the most preferred pumps. These are used for heat storage as a primary heat transfer fluid in concentrating solar power plant. Their high specific heat capacity makes them suitable for this. The pumps work such that the molten salt enables the production of electricity even after sun set. It also has a prolonged operation period of up to 6-8 hours.