In the first half of 2019 (first half of 2019), TMEIC developed into the leading supplier of solar inverters for the Indian market with a market share of around 20%, while Sungrow came in second with a market share of around 16%, followed by ABB at 15 % according to Mercoms India Solar Market Leaderboard 1H 2019 report.
Huawei and TBEA Energy rounded off the top 5 in this segment. The three largest providers accounted for almost 3 GW of solar inverters on the Indian market. Together, the five largest companies accounted for almost 73% of the total market share.
In large solar projects, central inverters were used due to the lower cost, maturity and reliability of the technology. However, the proportion of supply with string inverters has increased across the country as they are more flexible in terms of size and use. With around 20% of the next year’s solar plant growth forecast in India, most inverter suppliers are expected to do significantly better in 2020.
In the first half of 2019, Huawei was the leading supplier of string inverters with a market share of 38%, followed by Sungrow with a market share of 10%. Growatt came third, followed by Solis and ABB, who rounded off the top 5 list for the first half of 2019.
Among the suppliers of central inverters, TMEIC was at the top with a market share of 29%, followed by Sungrow with 19% and ABB with 18%. TBEA and Sineng Electric rounded off the list of the five leading providers of solar central inverters for the first half of 2019 (first half of 2019).
Last year, ABB was the leader in this segment with a market share of 24%, followed by Sungrow with 16% and Huawei with 12%. ABB, Sungrow, TMEIC, TBEA and Sineng Electric were the five largest central inverter suppliers, accounting for 83% of the central inverters delivered in 2018.
TBEA Xi’an Electric Technology Co., a subsidiary of the TBEA Group, recently announced the opening of its 2 GW solar inverter factory in Bengaluru. The production unit in Bidadi will support customers in the manufacture and manufacture of high-quality PV inverters, with service and maintenance as well as with transit storage after sales.
The guidelines of the central government for compliance with the quality standards of solar inverters have so far been expanded several times. The industry says it will take more time to adjust and implement the guidelines on site. In October 2019, the MNRE again extended the deadline for self-certification of solar inverters by the Bureau of Indian Standards.
Mercoms India 1H 2019 Solar Market Leaderboard Report provides a detailed overview of the solar supply chain, its growth rates and deliveries.
A full list of solar inverter suppliers and their market share in India can be found here:: Mercoms India Solar Market Share Tracker.
Image credit: Sungrow
Rakesh is a reporter at Mercom India. Before joining Mercom, he held many roles as business correspondent, editorial assistant, senior editor and sub-editor at bcfocus.com, CIOReview / Silicon India, Connect Communication and Bangalore Bias. Rakesh holds a bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). More articles from Rakesh Ranjan.