In the first half of 2019 (1H 2019), TMEIC emerged as the top supplier of solar inverters to the Indian market with a market share of approximately 20% while Sungrow came in second with a market share of about 16%, followed by ABB at 15%, according to Mercom’s India Solar Market Leaderboard 1H 2019 report.

Huawei and TBEA Energy rounded off the top five spots in this segment. The top three suppliers accounted for nearly 3 GW of solar inverter shipments to the Indian market. Together, the top five companies accounted for nearly 73% of the total market share.

Large-scale solar projects have been using central inverters because of lower costs, maturity and reliability of the technology. However, the share of string inverter supply has been increasing across the country as they are more flexible in terms of size and usage. With approximately 20% of solar installation growth forecasted next year in India, most of the inverter suppliers are expected to fare much better in 2020.

String Inverters

In 1H 2019, Huawei was the leading supplier of string inverters with a market share of 38% followed by Sungrow with a market share of 10%. Growatt came in third, followed by Solis and ABB, which rounded off the Top 5 list for the first half of 2019.

Central Inverters

Among central inverter suppliers, TMEIC led with a market share of 29%, followed by Sungrow with 19%, and ABB with 18%. TBEA and Sineng Electric rounded off the top five solar central inverter suppliers’ list for the first half of 2019 (1H 2019).

Last year, ABB was the leader in this segment with a market share of 24%, followed by Sungrow with 16%, and Huawei with 12%. ABB, Sungrow, TMEIC, TBEA, and Sineng Electric were the top five central inverter suppliers accounting for a combined 83% of total central inverters supplied in 2018.

TBEA Xi’an Electric Technology Co., an affiliate of the TBEA Group, recently announced the opening of its 2 GW solar inverter factory in Bengaluru. The manufacturing unit located at Bidadi will support customers with high-quality PV inverter production and manufacturing, service and maintenance, and after-sales transit storage.

The central government’s guidelines on upholding the quality standards of solar inverters have seen multiple extensions so far. The industry says needs more time is needed to adjust and implement the guidelines on the ground. In October 2019, the MNRE once again extended the deadline for self-certification of solar inverters through the Bureau of Indian Standards.

Mercom’s India 1H 2019 Solar Market Leaderboard Report gives a detailed landscape of the solar supply chain, their growth rates, and shipments.

A complete list of solar inverter suppliers and their market share in India is available here: Mercom’s India Solar Market Share Tracker.

Image credit: Sungrow