LONGi, Waaree, JA Solar, Jinko, Top Solar Module Suppliers in 1H 2023
The top five module suppliers accounted for 35% of the market share
LONGi Solar, Waaree Energies, JA Solar, Jinko Solar, and Premier Energies were the top solar module suppliers in the first half (1H) of the calendar year (CY) 2023, according to Mercom’s recently released India Solar Market Leaderboard 1H 2023.
The report covers market shares and rankings across the Indian solar supply chain and provides the most accurate and comprehensive coverage of industry leaders.
During 1H 2023, polycrystalline modules accounted for 11.6% of the total module supply, while monocrystalline modules constituted around 81.5%. Bifacial, Thin Film, and HJT modules accounted for approximately 7% of the supply.
The top three suppliers— LONGi Solar, Waaree Energies, and JA Solar —accounted for 9.1%, 8.9%, and 7.2% of the total modules supplied in 1H 2023, respectively. Jinko Solar and Premier Energies were the fourth and fifth largest, with 6% and 4.3% of the market share, respectively.
About 35% of the capacities shipped to the domestic solar market came from the top five suppliers.
LONGi Solar emerged as the top choice among developers in 1H 2023.
As of June 2023, LONGi has supplied around 8.5 GW of solar modules in India. The company has signed an investment agreement with the local government of Shaanxi province to manufacture 100 GW of monocrystalline silicon wafers and 50 GW of monocrystalline cells. It aims to expand its monocrystalline silicon wafer, cell, and module production capacity to 190 GW, 110 GW, and 130 GW by the end of CY 2023.
Waaree Energies, one of India’s major module producers, with 12 GW of module production capacity in Gujarat, recently raised $120.8 million in a second round of equity fundraising headed by Valuequest. It intends to expand its module production capacity to 20 GW, cell manufacturing capacity to 11.4 GW, and wafer manufacturing capacity to 6 GW over the next two years.
JA Solar ranked third. The company has 12 manufacturing bases and produces and supplies silicon wafers, cells, and modules. As of June 2023, the company was one of the largest suppliers of solar modules in the Indian market, with shipments totaling nearly 7 GW.
Mercom’s India Solar Market Leaderboard report covers the market landscape across the entire supply chain. For the detailed and comprehensive report, click here.
Also, the Market Share Tracker, which gives data insights into your competitors and their growth rates on a quarterly basis, is now available.