With increasing economic activity and growth, India's electricity consumption reached 1,164 TWh by November 2019. According to IEA data, this makes India the third largest country among the ten largest electricity consuming countries worldwide.
This pace of economic development was brought in line with the clean energy and climate goals after India signed the Paris Agreement in 2015 and committed to increasing the use of renewable energy across its energy mix.
With the boom in the development of renewable energies in India, especially solar photovoltaics (PV), the demand for solar inverters in the domestic market also increased significantly, as they convert the direct current output of a solar module into the useful frequency of the alternating current (AC). This can be fed into a commercial power grid or used by a local offline power grid.
As of December 31, 2019, India's utility-scale solar capacity reached 30.982 GW, however, according to Bridge to India (BTI), only 7.150 GW of new capacity was added in 2019. The total number of inverters shipped during the year was 6,978 GW of capacity for the utility-scale projects. This growth was largely caused by large players dominating the list of solar inverter suppliers in India. Here we have listed the ten largest solar inverter companies in India in 2019:
Huawei
The Chinese manufacturer of string inverters, Huawei, remains at the top and has a market share of 25.90 percent for inverter suppliers in India in 2019, according to BTI. However, according to JMK Research and Analytics, Huawei was at the top with a market share of 22.7 percent in shipping in the Indian solar market on the supply scale from January to December 2019.
TMEIC
The Japanese central inverter manufacturer TMEIC secured second place according to BTI by achieving a market share of 19.73 percent for inverter suppliers in India in 2019. JMK Research and Analytics placed TMEIC in the third-tier solar market in India from January to December 2019 with a market share of 15.5 percent in utility deliveries.
Sungrow
Sungrow, headquartered in China, manufactures both central and string inverters and, from January to December 2019, took third place for inverter suppliers in India with a 13.23 percent market share according to BTI. However, according to JMK Research and Analytics, Sungrow was pleased with the 4th place with a market share of 13.6 percent in shipping in the Indian solar market from January to December 2019.
FIG
Swiss-based multinational ABB, which manufactures single-phase and three-phase grid-connected string inverters, ranked fourth in 2019 with a market share of 12.88 percent according to BTI for inverter suppliers in India. JMK Research and Analytics places ABB in second place with a market share of 18.2 percent in deliveries in the Indian solar market from January to December 2019.
TBEA
TBEA, based in China, manufactures solar inverters and, according to BTI, ranked fifth in 2019 with a market share of 7.42 percent for inverter suppliers in India. JMK Research and Analytics agreed to the ranking, with TBEA taking fifth place with a market share of 9.7 percent in the Indian solar market from January to December 2019.
Sineng
The Chinese manufacturer of central and string solar inverters, Sineng, secured sixth place from January to December 2019 with a market share of 7.04 percent according to BTI for inverter suppliers in India. According to information from JMK Research and Analytics, however, Sineng took 5th place with a 10.2 percent market share in shipping on the Indian solar market on the supply scale from January to December 2019.
Kehua
The China-based manufacturer of string inverters took seventh place in 2019 with a market share of 5.73 percent (BTI) among inverter suppliers in India. According to JMK Research and Analytics, however, Kehua secured seventh place in shipping in the solar market in India from January to December 2019 with a market share of 2.7 percent.
delta
Delta Electronics, based in Thailand, manufactures central solar inverters and, according to BTI, ranks eighth with a market share of 2.94 percent for inverter suppliers in India from January to December 2019. According to JMK Research and Analytics, however, Delta secured ninth place with 1, 5 percent market share in shipping on the solar market in India on a supply scale from January to December 2019.
Hitachi
The Japanese multinational Hitachi manufactures central and string inverters and, according to BTI, took ninth place for inverter suppliers in India in 2019 with a 1.79 percent market share. According to JMK Research and Analytics, however, Hitachi secured the eighth place cents market share in shipping on the Indian solar market from January to December 2019 with 1.6 percent.
Medha
The Indian solar inverter manufacturer Medha Servo Drives Pvt Ltd has a market share of 1.43 percent for inverter suppliers in India from January to December 2019, according to BTI.
According to BTI, other inverter suppliers in India had a market share of 5.22 percent in 2019. According to JMK Research and Analytics, the market share of 4.4 percent in shipping in the Indian supply-scale solar market was 4.4 percent but was secured by other players from January to December 2019.
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