Sungrow, Sineng Electric, FIMER India (ABB), Ginlong (Solis) Technologies, and GoodWe were the top five solar inverter suppliers in the Indian solar market in the calendar year (CY) 2021, according to Mercom’s recently released India Solar Market Leaderboard 2022.

Mercom’s latest report provides insight into the industry leaders’ market share and shipment rankings across the Indian solar supply chain.

The top three companies accounted for 68% of the total market share in CY 2021.

The top five solar inverter suppliers accounted for almost 81% of the total inverter supplies to the country in 2021.

String Inverters

String inverters have made rapid inroads in the Indian solar market over the past couple of years and, for the first time, overtook central inverters in 2021. In this category, Sungrow, Ginlong (Solis) Technologies, GoodWe, Growatt, and Sineng Electric were the top five suppliers in the Indian solar market in CY 2021.

The top three companies accounted for 65% of the total market share in CY 2021. The top five string inverter suppliers accounted for nearly 77% of the total inverter supplies to the country in 2021.

Central Inverters

In the central inverters category, Sineng Electric, Sungrow, FIMER India (ABB), TMEIC, and Delta Electronics were the top five suppliers in the Indian solar market in CY 2021.

The top three companies accounted for 93% of the total market share in CY 2021. The top five central inverter suppliers accounted for almost 99% of the total inverter supplies to the country in 2021.

Sungrow, Sineng Electric, and TBEA Energy were the top solar inverter suppliers in the Indian solar market in the first half of the calendar year 2021, according to Mercom’s India Solar Market Leaderboard 1H 2021 report.

MNRE issued a fresh notification extending the self-certification of solar photovoltaic inverters under the Bureau of Indian Standards from December 31, 2021, to June 30, 2022. The extension was granted as the industry had sought more time for compliance, considering the issues relating to testing and the level of preparation of test labs. However, this deadline has elapsed, and it is unclear what actions the government will take on the issue of BIS certification for solar inverters.

A complete list of the inverter suppliers and their market share is available through Mercom’s India Solar Market Share Tracker.