Waaree, Adani, Risen Largest Suppliers of Solar Modules in CY 2019

Top ten solar module suppliers accounted for 62% of the total market share in 2019

thumbnail

Waaree Energies, Adani Solar, and Risen Energy emerged as the top three suppliers of solar modules in India in terms of shipments in the calendar year (CY) 2019. These three manufacturers accounted for approximately 25% of the total market share. The findings were released in Mercom India Research’s latest report India Solar Market Leaderboard 2020.

None of the module suppliers to the Indian solar market exceed 1 GW in shipments in 2019.

In 2019, the top 10 solar module suppliers represented 62% of the total market share. Last year, Mono PERC modules made up around 10% of the module market in India, while the remaining 90% came from polycrystalline modules. Even though the Indian market is last to the game, the shift to Mono PERC is definitely on the way.

With support from safeguard duty and domestic content requirement (DCR) tenders, large Indian manufacturers competed aggressively with Chinese suppliers and managed to secure a significant share of the market.

According to Mercom India’s analysis, larger Indian domestic manufacturers are faring better after the safeguard duty imposition by offering competitive prices to capture business while smaller manufacturers are still struggling.

Leading Solar Module Suppliers in India 2019 CY

In terms of the cumulative shipments as of December 2019, the top three companies were Trina Solar, Canadian Solar, and JA Solar. Three companies have cumulatively supplied over 3 GW each, and seven companies have supplied over 2 GW each to the Indian solar market.

Previously, Mercom reported that in the first half of CY 2019, Trina Solar, Adani, and Risen Energy emerged as the top three suppliers of solar modules in India in terms of shipments.

Recently, the implementation of the approved list of manufacturers and models (ALMM) also saw an extension of the deadline by six months from March 31, 2020, to September 30, 2020. The ALMM was mandated by the Ministry of New and Renewable Energy (MNRE) to ensure the reliability of solar PV manufacturers and protect the consumers’ interests. The ALMM order provides for the enlistment of eligible models and manufacturers of solar PV cells and modules complying with the BIS (Bureau of Indian Standards) certification and publish the same in the list called the ALMM.

Mercom’s India Solar Market Leaderboard 2020 report gives a detailed breakdown of top suppliers of solar modules and their growth profile.

A complete list of suppliers and their portfolio is available on Mercom’s India Solar Market Share Tracker.

 

Image credit: Adani

RELATED POSTS

Get the most relevant India solar and clean energy news.

RECENT POSTS