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					</table><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>
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.
<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>
Sungrow, the top solar inverter supplier in CY 2022, held the position in 2023, with an inverter shipment growth of nearly 113% YoY.
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.
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.
Sineng Electric was third in 2023 despite a shipment increase of over 50% YoY.
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.
Central Inverters
Central inverters accounted for 55% of the total inverter supply in CY 2023, surpassing string inverters after two years.
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.
<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>
String Inverters
String inverters accounted for 45% of the total inverter supply in India.
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.
<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>
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.
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.

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

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					</table><a href="https://en.sungrowpower.com/" target="_blank" rel="noopener">Sungrow</a>, <a href="https://en.si-neng.com/" target="_blank" rel="noopener">Sineng Electric</a>, <a href="https://www.fimer.com/" target="_blank" rel="noopener">FIMER India</a>, <a href="https://www.ginlong.com/global" target="_blank" rel="noopener">Ginlong (Solis) Technologies</a>, and <a href="https://www.sofarsolar.com/" target="_blank" rel="noopener">SOFARSOLAR</a> were the leading solar inverter suppliers in India in the first half (1H) of the calendar year (CY) 2022, according to Mercom&#8217;s recently released <a href="https://mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2022-market-shares-and-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 1H 2022</a>.
The report provides insights into the industry leaders&#8217; market share and shipment rankings across the Indian solar supply chain.
Sungrow was the top solar inverter supplier in 1H 2022 and is also the leading solar inverter company cumulatively.
Sungrow <a href="https://mercomindia.com/daily-news-wrap-up-sungrow-10-gw-solar-inverter-manufacturing/" target="_blank" rel="noopener">inaugurated</a> a 10 GW solar inverter manufacturing facility in New Delhi earlier this year. The company also has a 3 GW facility in Bangalore. Sungrow has over 269 GW of solar inverters installed worldwide.
In September, Sungrow surpassed 14 GW inverter shipments to the Indian market. Sungrow’s inverters are in many key projects, including the 400 MW project in Bhadla Solar Park of Rajasthan, the 250 MW Ayana Project in Andhra Pradesh, and the 70 MW Kayamkulam floating solar project.
Sungrow, Sineng Electric, and FIMER India accounted for 68% of the market share in 1H 2022.
<a href="https://mercomindia.com/wp-content/uploads/2022/11/Leading-Inverter-Suppliers-in-India-1H-2022-Jan-June.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-44808 size-full" src="https://mercomindia.com/wp-content/uploads/2022/11/Leading-Inverter-Suppliers-in-India-1H-2022-Jan-June.png" alt="Leading Inverter Suppliers in India 1H 2022 (Jan-June)" width="618" height="420" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Inverter-Suppliers-in-India-1H-2022-Jan-June.png 618w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Inverter-Suppliers-in-India-1H-2022-Jan-June-300x204.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Inverter-Suppliers-in-India-1H-2022-Jan-June-600x408.png 600w" sizes="(max-width: 618px) 100vw, 618px" /></a>String Inverters
Sungrow, Solis, SOFARSOLAR, <a href="https://www.ginverter.com/" target="_blank" rel="noopener">Growatt</a>, and <a href="https://en.goodwe.com/" target="_blank" rel="noopener">GoodWe</a> were the top solar string inverter suppliers, accounting for 94% of the market share.
Solis has supplied its 255 kW three-phase string inverter to NTPC’s 30 MW Rihand solar project in Uttar Pradesh. Entering India with a focus on residential and C&amp;I markets, the company plans to capture a greater share of the utility-scale solar market.
Growatt unveiled its X Series solar inverters with 0.75-253kW power capacity range. Growatt’s X Series inverter features a higher power density and a higher input string current of up to 22.5A that makes it compatible with high power modules. It can be used in residential, commercial and industrial, and large-scale solar projects.
<a href="https://mercomindia.com/wp-content/uploads/2022/11/Leading-Solar-String-Inverter-Suppliers-in-India-1H-2022-Jan-June.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-44809 size-full" src="https://mercomindia.com/wp-content/uploads/2022/11/Leading-Solar-String-Inverter-Suppliers-in-India-1H-2022-Jan-June.png" alt="Leading Solar String Inverter Suppliers in India 1H 2022 (Jan-June)" width="623" height="382" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Solar-String-Inverter-Suppliers-in-India-1H-2022-Jan-June.png 623w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Solar-String-Inverter-Suppliers-in-India-1H-2022-Jan-June-300x184.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Solar-String-Inverter-Suppliers-in-India-1H-2022-Jan-June-600x368.png 600w" sizes="(max-width: 623px) 100vw, 623px" /></a>Central Inverters
Sineng Electric, Sungrow, FIMER India, and <a href="https://www.tmeic.com/" target="_blank" rel="noopener">TMEIC</a> were the top solar central inverter suppliers. Central inverters represented the majority of solar inverters supplied during the period.
Sineng Electric supplied its flagship 3.125MW central inverter solution to the 200 MW Raghanesda Solar Park in Banaskantha District of Gujarat. The inverter solution is tailored for 1500V solar project. It is suitable for the arid environment as there is no derating up to 50℃. The 3.125MW central inverter solution is also used at the 300 MW Pokhran Solar Park.
As of June, GoodWe announced that it had shipped over 2 GW of solar inverter shipments to India.
FIMER supplied its 1MVA inverters to the Integrated Solar Energy Project in Modhera, Gujarat. This project features a 6 MW grid connect system with 6MVA inverters and an 18 MWh battery energy storage system.
<a href="https://mercomindia.com/wp-content/uploads/2022/11/Leading-Solar-Central-Inverter-Suppliers-in-India-1H-2022-Jan-June.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-44817 size-full" src="https://mercomindia.com/wp-content/uploads/2022/11/Leading-Solar-Central-Inverter-Suppliers-in-India-1H-2022-Jan-June.png" alt="Leading Solar Central Inverter Suppliers in India 1H 2022 (Jan-June)" width="623" height="413" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Solar-Central-Inverter-Suppliers-in-India-1H-2022-Jan-June.png 623w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Solar-Central-Inverter-Suppliers-in-India-1H-2022-Jan-June-300x199.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Leading-Solar-Central-Inverter-Suppliers-in-India-1H-2022-Jan-June-600x398.png 600w" sizes="(max-width: 623px) 100vw, 623px" /></a>In February this year, the Ministry of New and Renewable Energy <a href="https://mercomindia.com/deadline-for-bis-certification-extended-june-2022/" target="_blank" rel="noopener">extended</a> the deadline for self-certification of solar PV inverters under the Bureau of Indian Standards until June 30, 2022. The extension was granted after the industry sought more time for compliance, considering the testing issues and the test labs&#8217; level of preparation.
A complete list of the solar inverter suppliers and their market share is available through Mercom&#8217;s <a href="https://mercomindia.com/product/mercoms-india-solar-market-share-tracker/" target="_blank" rel="noopener">India Solar Market Share Tracker</a>.

Sungrow, Sineng, FIMER, Solis Top Solar Inverter Companies in 1H 2022

India is on pace to add over 8 GW of solar in 2019, according to the recent <a href="https://mercomindia.com/india-solar-capacity-q2-2019-1-5-gw/" target="_blank" rel="noopener noreferrer">Q2 2019 India Solar market update</a> published by Mercom India and is the third-largest solar market in the world. Based on Mercom’s forecast, the country is expected to remain one of the top solar markets for the foreseeable future.
With rising installations, the demand for solar inverters has also spiked in recent years, leading to increased competition in this segment.
To understand the challenges and scope solar inverter companies are facing as they strive for more rooftop solar business, Mercom sat down with Jianfei Li, vice president at <a href="http://en.si-neng.com/" target="_blank" rel="noopener noreferrer">Sineng </a>on the sidelines of Renewable Energy India (REI) Expo 2019 to discuss market trends, opportunities, and challenges that they face as a solar inverter supplier in India.
 How has the year 2019 been for you so far?
This year was not too bad. Our main business is in China, and as you know, the policies in China have been changing. So, we have most of our shipments in Q4, making this the busiest quarter for us. This year’s whole shipments, I believe is a little more than last year’s. The good news this year is that our overseas market is increasing. Earlier this year, we got a 1 GW order from Vietnam. In India, we are making progress step-by-step. In the Indian market, we think we can reach 1 GW mark of business this year. Next year, we should be doing better in the Indian market because our factory in Bangalore is almost ready and is already manufacturing for some of our customers.
This year we also expanded our presence in other global markets like in the Middle East, Africa, and South America.
What are the unique challenges you find in the Indian market?
The factory in India took us about two years to prepare as this was our first overseas factory. We opened the factory last year in August, and now we have more confidence regarding doing business here with a better commercial understanding of the market. Regarding the challenges in the Indian market, I think the first thing is the price. India is now <a href="https://mercomindia.com/india-third-largest-solar-market-globally/" target="_blank" rel="noopener noreferrer">the third-largest solar market</a> in the world, and many inverter suppliers are now coming to the Indian market. The market is very competitive, but it also requires high quality. So, we have to face and manage to solve it. This also makes us improve our technologies to meet such requirements. Some of our new product launches carefully tap into the Indian market through some optimization. Even in this exhibition [REI], we have discussed with many of our clients what their real needs are as well as what their future needs are going to be. This information will help us to develop better products suited for the Indian market. India is an interesting market. Here, they want much more detailed information, so we know that the customers here are much more technical compared to other countries and they demand quality products.
Has the increased competition led to any change in your strategy?
The competition is good as it makes us improve our technologies and pushes us to go ahead. Sineng is now ten years old, and solar is our primary business. We aim to focus more on R&amp;D (research and development) in this field, so we get better product, performance and system price. So, we do not just care about the equipment, but the total solution.
What are the trends in the inverter market currently?
In India, our central inverters make up a big piece of our market share. The reason for this is that the total system cost is the lowest in this case, and the technology is mature and reliable. So far, our primary focus in India has been on central inverters. That said, there is no single system or solution that fits all requirements. String inverters are definitely going to gain more traction in the country in the future as it is more flexible in its usage as compared to central inverters.
Tell us about some of your latest products?
Our star product is the 3.125 MW inverter that is currently our bestseller in the overseas markets. This product comes loaded with a lot of good features and has reliability and our latest innovations inside. Also, we have launched our 175 kW string inverter that can meet some special requirements.
What are some innovations that Sineng is working on?
Right now, we are developing not just the inverter but have also expanded our innovation to the whole power station system, the main target is that can further reduce the system cost at large. We are paying more attention to the trends and what our customers need. Our R&amp;D team is very professional and gives us the confidence to develop and design products that meet the real requirements of our customers. The perfect product may or may not survive; the focus should always be on meeting the real requirements.
What are your expectations and predictions about 2020?
Not just in China, but worldwide, the reach of solar is increasing. With technical improvements, total system costs are also decreasing. So, the competition in this segment, when compared with other traditional forms of power, is also rising. So, not just in the next year but say, in the next three to five years, the market is only going to increase further. So, the following year is going to be great for this segment and solar sector at large.
How do you view the recent policy changes in China?
The policy change in China is a good move. Now, this year, many products coming out in the Q4 are without subsidies. This move will push the solar industry to improve. Companies who have their own technology may not  fear this change.
As <a href="https://mercomindia.com/top-chinese-inverter-companies-exports/">reported previously</a> by Mercom India, in the first half of 2019, the top five solar inverter manufacturers in China accounted for 36.44% of inverter exports globally from China according to the latest trade data.
PV inverter giants, Siemens and Schneider, and ABB Group have slowly pulled out of the inverter business, leaving a void while Chinese companies continue to expand and consolidate their activities around the world.

Our Solar PV Inverter Factory in Bangalore Ready for Manufacturing: Sineng Interview

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