Sungrow Power Supply, TBEA Energy India, Sineng Electric, FIMER India, and Ginlong (Solis) Technologies were the leading inverter suppliers in India for the calendar year 2024, according to Mercom’s recently released India Solar Market Leaderboard 2025.

Sungrow emerged as the leading solar inverter supplier, accounting for 29.1% of the market share. TBEA Energy India ranked second with 21.3%, followed by Sineng Electric at 13.3%.

FIMER India and Ginlong (Solis) Technologies ranked fourth and fifth, accounting for 12.2% and 6% of the total market share, respectively.

Sungrow retained its top position from the previous year. The company claims to have the world’s largest inverter factory, with a global annual production capacity of 330 GW, including 25 GW outside China and 25 GW under construction.

Central Inverters

In India, central inverters accounted for 48.7% of the total supply in 2024, a 55.2 % decline from 2023.

Sungrow (45%), FIMER India (25%), and Sineng Electric (21%) were the top central inverter suppliers, accounting for 91% of the market share. TBEA Energy India followed, accounting for 7.7%. Hitachi Hi-Rel Power Electronics accounted for 0.8%, while others accounted for 0.6%.

String Inverters

Due to their faster troubleshooting capabilities, distributors are increasingly recommending string inverters, particularly for the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) projects. As a result, demand for string inverters has now surpassed that of central inverters.

At a webinar hosted by Mercom India, industry experts highlighted that high-power string inverters can significantly reduce the balance of system costs compared to central inverter solutions as they require fewer inverters per block and have a better DC-to-AC conversion ratio.

String inverters accounted for 51.3% of the total inverter supply in India. TBEA Energy India had the highest market share, accounting for 34.3%, followed by Sungrow with 13.9% and Ginlong (Solis) Technologies with 11.6%.

The top three suppliers accounted for nearly 60% of the string inverters supplied in 2024. They were followed by Growatt New Energy (6.6%) and SOFARSOLAR (6.2%).

Mercom’s Market Leaderboard report, published annually, offers a comprehensive overview of the solar market landscape across the entire supply chain. For the full in-depth report, click here.

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