Top 10 Solar Inverter Companies in India – Saurenergy

With boosting economic activities in the country in a decade, India’s power consumption too reached to 1,164 TWh till November 2019. It is undoubtedly one of the major parameters which define the growth and development of any country. Now, India ranked third among the top ten electricity consuming countries globally, as per IEA statistics data.

This speed of economic development was aligned with clean energy and climate goals after India signed the Paris agreement in 2015, and committed to increasing the use of renewable energy into its aggregate energy mix.

With the surge of renewable energy development in India especially solar photovoltaic (PV), demand for solar inverters too grew significantly in the domestic market, as they convert direct current (DC) output of a solar panel into utility frequency of alternating current (AC) that can be fed into a commercial electrical grid or can be used by a local, off-line electrical network.

As of December 31, 2019, the utility-scale operational solar capacity of India reached 30.982 GW, however, only 7.150 GW of new capacity was added in 2019, as per Bridge to India (BTI) report. Total inverters supplied during the year stood at 6.978 GW of capacity for the utility-scale projects. This growth has been largely brought about by large players which comprise the major share of solar inverter suppliers in India. Here we have listed the top ten solar inverter companies in India in 2019:

Huawei

Chinese string inverter manufacturer Huawei remains on top with enjoying 25.90 per cent market share for inverter suppliers in India during 2019, as per BTI. However, as per the JMK Research and Analytics, Huawei enjoyed the top position with 22.7 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

TMEIC

Japanese central inverters manufacturer TMEIC secured the second place, as per BTI, by enjoying 19.73 per cent market share for inverter suppliers in India during 2019. However, as per the JMK Research and Analytics, TMEIC enjoyed the 3rd position with 15.5 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

Sungrow

China-headquartered Sungrow manufactures both central and string inverters and grabbed the third position with 13.23 per cent market share, as per BTI, for inverter suppliers in India in January-December 2019. However, as per the JMK Research and Analytics, Sungrow enjoyed the 4th position with 13.6 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

ABB

Switzerland-headquartered multinational corporation ABB which manufactures single-phase and three-phase on-grid string inverters house the fourth place with 12.88 per cent market share, as per BTI, for inverter suppliers in India during the year 2019. However, as per the JMK Research and Analytics, ABB enjoyed the second position with 18.2 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

TBEA

China-based TBEA manufactures solar inverters and houses the fifth rank with 7.42 per cent market share for inverter suppliers in India during 2019, as per BTI. However, as per the JMK Research and Analytics, TBEA enjoyed the 5th position with 9.7 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

Sineng

Chinese central and string solar inverters manufacturer Sineng secured the sixth rank with 7.04 per cent market share, as per BTI, for inverter suppliers in India in January-December 2019. However, as per the JMK Research and Analytics, Sineng enjoyed the 5th position with 10.2 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

Kehua

China-based string inverters manufacturer enjoyed the seventh position with 5.73 per cent market share, as per BTI, for inverter suppliers in India during 2019. However, as per the JMK Research and Analytics, Kehua secured the 7th position with 2.7 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

Delta

Thailand based Delta Electronics manufactures central solar inverters and houses eighth position, as per BTI, with 2.94 per cent market share for inverter suppliers in India in January-December 2019. However, as per the JMK Research and Analytics, Delta secured the 9th position with 1.5 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

Hitachi

Japanese multinational Hitachi manufactures central & string inverters and grabbed the ninth position with 1.79 per cent market share, as per BTI, for inverter suppliers in India during 2019. However, as per the JMK Research and Analytics, Hitachi secured the 8th position with 1.6 per cent market share in shipment in the utility-scale solar market in India from Jan-Dec 2019 period.

Medha

Indian solar inverter manufacturer Medha Servo Drives Pvt Ltd enjoys 1.43 per cent market share for inverter suppliers in India in January-December 2019, as per BTI.

Meanwhile, as per BTI, 5.22 per cent market share has been enjoyed by other inverter suppliers in India during 2019. However, as per the JMK Research and Analytics, 4.4 per cent market share in shipment in the utility-scale solar market in India has been secured by other players from Jan-Dec 2019 period.

Source: https://www.saurenergy.com/solar-energy-blog/top-10-solar-inverter-companies-in-india

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