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					</table><p><a href="https://en.sungrowpower.com/" target="_blank" rel="noopener">Sungrow Power Supply (Sungrow),</a> <a href="https://www.fimer.com/" target="_blank" rel="noopener">FIMER India (ABB)</a>, <a href="https://en.si-neng.com/" target="_blank" rel="noopener">Sineng Electric</a>, <a href="https://www.tbeaindia.com/" target="_blank" rel="noopener">TBEA Energy India</a>, and <a href="https://www.solisinverters.com/in" target="_blank" rel="noopener">Ginlong (Solis) Technologies</a> were the leading inverter suppliers in India for the calendar year (CY) 2023, according to Mercom&#8217;s recently released <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2024-market-shares-and-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 2024.</a></p>
<p>Sungrow was the top solar inverter supplier in CY 2023, garnering a 32% market share. FIMER India and Sineng Electric followed with 17% and 16%, respectively. TBEA Energy India and Ginlong (Solis) Technologies ranked fourth and fifth, accounting for 12% and 5% of the total market share, respectively.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-inverter-suppliers-in-India-2023.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-66396 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-inverter-suppliers-in-India-2023.png" alt="Leading solar inverter suppliers in India 2023" width="891" height="587" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-inverter-suppliers-in-India-2023.png 891w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-inverter-suppliers-in-India-2023-300x198.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-inverter-suppliers-in-India-2023-768x506.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-inverter-suppliers-in-India-2023-650x428.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-inverter-suppliers-in-India-2023-624x411.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-inverter-suppliers-in-India-2023-600x395.png 600w" sizes="(max-width: 891px) 100vw, 891px" /></a></p>
<p>Sungrow, the top solar inverter supplier in CY 2022, held the position in 2023, with an inverter shipment growth of nearly 113% YoY.</p>
<p>Sungrow has one of the world&#8217;s largest inverter facilities, with a global annual production capacity of 305 GW, including 25 GW outside China. The company&#8217;s Indian manufacturing facility has completed five years of manufacturing and expanded to a yearly production capacity of 10 GW.</p>
<p>FIMER India climbed to second place in CY 2023. The company&#8217;s inverter shipments nearly doubled YoY due to mounting demand for central inverters for the large pipeline of utility-scale solar projects scheduled for commissioning in 2024.</p>
<p>Sineng Electric was third in 2023 despite a shipment increase of over 50% YoY.</p>
<p>The company&#8217;s three manufacturing facilities in Wuxi and Wuzhong in China and Bangalore, India, have a total annual production capacity of 50 GW. Sineng Electric also has an in-house testing center.</p>
<p><strong>Central Inverters</strong></p>
<p>Central inverters accounted for 55% of the total inverter supply in CY 2023, surpassing string inverters after two years.</p>
<p>Sungrow (46%), FIMER India (29%), and Sineng Electric (20%) were the top suppliers, accounting for 95% of the market share. Central inverters have recently regained popularity among developers due to their low cost and high reliability.</p>
<p><strong><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-central-inverter-suppliers-in-India-2023.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-66398 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-central-inverter-suppliers-in-India-2023.png" alt="Leading solar central inverter suppliers in India 2023" width="892" height="552" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-central-inverter-suppliers-in-India-2023.png 892w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-central-inverter-suppliers-in-India-2023-300x186.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-central-inverter-suppliers-in-India-2023-768x475.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-central-inverter-suppliers-in-India-2023-650x402.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-central-inverter-suppliers-in-India-2023-624x386.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-central-inverter-suppliers-in-India-2023-600x371.png 600w" sizes="(max-width: 892px) 100vw, 892px" /></a></strong></p>
<p><strong>String Inverters</strong></p>
<p>String inverters accounted for 45% of the total inverter supply in India.</p>
<p>TBEA Energy India had the highest market share, accounting for 21%, followed by Sungrow with 15% and Sineng Electric with 10%. The top three suppliers accounted for 47% of the string inverter supplied in CY 2023.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-string-inverter-suppliers-in-India-2023.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-66397 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-string-inverter-suppliers-in-India-2023.png" alt="Leading solar string inverter suppliers in India 2023" width="945" height="566" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-string-inverter-suppliers-in-India-2023.png 945w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-string-inverter-suppliers-in-India-2023-300x180.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-string-inverter-suppliers-in-India-2023-768x460.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-string-inverter-suppliers-in-India-2023-650x389.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-string-inverter-suppliers-in-India-2023-624x374.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Leading-solar-string-inverter-suppliers-in-India-2023-600x359.png 600w" sizes="(max-width: 945px) 100vw, 945px" /></a></p>
<p>Mercom&#8217;s India Solar Market Leaderboard report evaluates the industry leaders&#8217; market share and shipment rankings across the Indian solar supply chain. The report revealed significant shifts in market share rankings in 2023, with two new players (<a href="https://www.tbeaindia.com/" target="_blank" rel="noopener">TBEA Energy India</a> and <a href="https://www.solaxpower.com/" target="_blank" rel="noopener">SolaX Power</a>) joining the top ten list.</p>
<p>For the detailed and comprehensive report, click <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2024-market-shares-and-profiles" target="_blank" rel="noopener">here</a>. Also, our <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker" target="_blank" rel="noopener">Market Share Tracker</a> gives quarterly insights into solar market competitors and their growth rates.</p>


Sungrow, FIMER, Sineng Electric Lead Solar Inverter Supply in 2023

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