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Sungrow Tops India's Solar Inverter Market in 2024; String Inverters Overtake Central Inverters

Sungrow Power Supply led India's solar inverter market in 2024, capturing 29.1% market share, according to Mercom India’s Solar Market Leaderboard 2025. TBEA Energy India (21.3%) and Sineng Electric (13.3%) followed, while FIMER India and Ginlong (Solis) Technologies took the fourth and fifth spots with 12.2% and 6%, respectively.

Central inverters accounted for 48.7% of the total supply—down 55.2% from 2023—highlighting a shift in market preference. Sungrow dominated this segment with a 45% share, followed by FIMER India (25%) and Sineng Electric (21%). TBEA Energy India, Hitachi Hi-Rel Power Electronics, and others contributed marginally.

Conversely, string inverters gained popularity, particularly for PM-KUSUM projects, due to their faster troubleshooting and lower balance-of-system costs. These accounted for 51.3% of the inverter supply, with TBEA Energy India leading at 34.3%, followed by Sungrow (13.9%) and Ginlong (11.6%). Growatt New Energy and SOFARSOLAR also featured among the top suppliers.

This shift toward string inverters marks a significant change in India’s solar sector, driven by technological efficiency and evolving deployment preferences.