Sungrow India, TBEA Energy India, FIMER India, Sineng Electric, and Ginlong (Solis) Technologies were the leading solar inverter suppliers in India in the first half (1H) of 2024, according to Mercom’s recently released India Solar Market Leaderboard 1H 2024 report.

The report provides insights into the industry leaders’ market share and shipment rankings across the Indian solar supply chain. It captures notable shifts in market share rankings, with two new players making it to the top five list.

Sungrow topped the market share list, followed by TBEA Energy India and FIMER India, which ranked second and third, respectively. Sineng Electric and Ginlong (Solis) Technologies rounded off the top five.

As of June 2024, Sungrow’s cumulative solar inverter shipments reached 32.4 GW. During the first half of the year, the company supplied solar inverters for a 641 MW solar project being developed by Adani Green Energy as part of its 30 GW Khavda Solar Park in Gujarat.

In January 2024, FIMER India supplied its PVS980-58 5 MVA inverters to Jakson Green for a 40 MW solar power project in Ayodhya, Uttar Pradesh.

Sineng Electric and Ginlong (Solis) Technologies were the other leading solar inverter suppliers in 1H 2024.

String Inverters

TBEA Energy India, Sungrow India, Ginlong (Solis) Technologies, Growatt New Energy, and NingBo Deye Inverter Technology were the top solar string inverter suppliers.

String inverters accounted for 48% of the solar inverter shipments in 1H 2024.

Central Inverters

Central inverter supplies surpassed string inverters in 1H 2024, accounting for approximately 52% of the total shipments during the period.

Sungrow India, FIMER India, Sineng Electric, TBEA Energy India, and Hitachi Hi-Rel Power Electronics were the top solar central inverter suppliers for 1H 2024.

Mercom’s Market Leaderboard report, published twice a year, covers the market landscape across the entire supply chain. For the detailed and comprehensive report, click here.

Our Market Share Tracker provides insights into the solar market competitors and their growth rates on a quarterly basis.