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					</table>In 2025, inverter shipments to solar projects in India increased 40.8% compared to 2024, driven by record installations and a strong project pipeline targeted for commissioning in the first half of 2026, ahead of the phased reduction in interstate transmission systems charges waiver. The upcoming ALMM-II deadline created uncertainty around cells and module availability, prompting developers to accelerate project execution during the year.
<a href="https://ind.sungrowpower.com/" target="_blank" rel="noopener">Sungrow India</a>, <a href="https://en.si-neng.com/" target="_blank" rel="noopener">Sineng Electric</a>, <a href="https://www.tbeaindia.com/Default.aspx" target="_blank" rel="noopener">TBEA Energy India</a>, <a href="https://www.fimer.com/" target="_blank" rel="noopener">FIMER India</a>, and <a href="https://www.solisinverters.com/us" target="_blank" rel="noopener">Ginlong (Solis) Technologies</a> were the leading solar inverter suppliers in India in 2025, according to Mercom’s recently released <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-cy-2025-market-shares-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 2026</a> report.
The report provides insights into the market share and shipment rankings of industry leaders across the Indian solar supply chain.
Sungrow led the market, followed by Sineng Electric and TBEA Energy India in second and third place, respectively, while FIMER India and Ginlong (Solis) Technologies rounded out the top five.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-94297 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture1.png" alt="Leading Solar Inverter Suppliers in India 2025" width="749" height="517" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture1.png 749w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture1-300x207.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture1-650x449.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture1-624x431.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture1-600x414.png 600w" sizes="auto, (max-width: 749px) 100vw, 749px" /></a>
The inverter market in 2025 remained highly concentrated, with Sungrow Power Supply leading the segment by capturing nearly one-third of the market share, supported by scale, competitive pricing, and a deep presence in utility-scale projects.
Sineng Electric ranked second, capturing over 19% of shipments in 2025, reflecting strong order conversion from utility-scale and central procurement projects, along with a broader shift toward Chinese suppliers gaining share through competitive pricing and faster delivery.
TBEA Energy India ranked third, with its market share declining to about 18%, while FIMER India’s shipments fell to nearly 7%. These declines indicate weakening competitiveness among some established inverter suppliers.
The inverter market is also evolving in line with recent regulatory changes. The Bureau of Energy Efficiency (BEE) has made efficiency <a href="https://www.mercomindia.com/solar-inverters-up-to-100-kw-capacity-must-meet-bees-efficiency-standards" target="_blank" rel="noopener">standards</a> and labeling mandatory for inverters up to 100 kW, pushing manufacturers to improve product performance and comply with defined benchmarks. In parallel, the Ministry of New and Renewable Energy (MNRE) has <a href="https://www.mercomindia.com/mnre-extends-bis-compliance-deadline-for-over-200-kw-solar-inverters" target="_blank" rel="noopener">introduced</a> stricter communication protocols for inverters, requiring secure data transmission to improve monitoring and visibility of rooftop solar systems.
At the same time, MNRE <a href="https://www.mercomindia.com/mnre-extends-bis-compliance-deadline-for-over-200-kw-solar-inverters" target="_blank" rel="noopener">extended</a> the BIS compliance deadline for higher-capacity inverters, providing manufacturers additional time to meet quality and safety standards. The ministry also issued draft <a href="https://www.mercomindia.com/mnre-releases-draft-testing-and-approval-guidelines-for-solar-inverters" target="_blank" rel="noopener">guidelines</a> on secure rooftop solar data and inverter testing, encouraging the adoption of improved telemetry and cybersecurity features. These measures are guiding the market toward more uniform testing and certification processes, requiring manufacturers to comply early to remain competitive.
String Inverters
TBEA Energy India, Sungrow India, Sineng Electric, Ginlong (Solis) Technologies, and <a href="https://www.deyeinverter.com/" target="_blank" rel="noopener">NingBo Deye Inverter Technology</a> were the top solar string inverter suppliers.
String inverters accounted for 49% of the solar inverter shipments in 2025.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture2.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-94298 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture2.png" alt="Leading Solar Inverter Suppliers in India 2025" width="432" height="325" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture2.png 432w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture2-300x226.png 300w" sizes="auto, (max-width: 432px) 100vw, 432px" /></a>
Central Inverters
Central inverter supplies surpassed string inverters in 2025, accounting for approximately 51% of the total shipments during the period.
Sungrow India, Sineng Electric, FIMER India, TBEA Energy India, and <a href="https://www.tmeic.com/product-category/pv-inverters/" target="_blank" rel="noopener">TMEIC</a> were the top solar central inverter suppliers for 2025.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture3.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-94307 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture3.png" alt="Leading Solar Central Inverter Suppliers in India 2025" width="439" height="313" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture3.png 439w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/05/Picture3-300x214.png 300w" sizes="auto, (max-width: 439px) 100vw, 439px" /></a>
The growth of central inverters was supported by rising utility-scale solar project commissioning and the increasing standardization of large projects in Gujarat and Rajasthan, where higher power density is required. In comparison, demand for string inverters remained stable, driven by continued adoption in rooftop and smaller-scale solar installations.
Mercom’s Market Leaderboard report published annually, covers the market landscape across the entire supply chain. For the detailed and comprehensive report, <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-cy-2025-market-shares-profiles" target="_blank" rel="noopener">click here</a>.
Our <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker" target="_blank" rel="noopener">Market Share Tracker</a> provides insights into the solar market competitors and their growth rates on a quarterly basis.

Solar inverter manufacturers have not had the easiest of times in the Indian market lately, given an uncertain policy environment and rising competition from foreign players. The ambiguity of the BIS certification process has left the industry in a difficult spot as the “on the ground” realities are starkly different from what has been envisioned in government policies.
With the recent deadline extension for BIS certification of solar inverters <a href="https://mercomindia.com/new-deadline-bis-certification-solar-inverters/" target="_blank" rel="noopener noreferrer">through June 30, 2020</a>, industry players remain hopeful and are banking on new policies by the government, a more conducive environment coupled with healthy competition in the market.
Sunil Badesra, Business Head at <a href="https://en.sungrowpower.com/" target="_blank" rel="noopener noreferrer">Sungrow (India) Private Limited</a>, explained to Mercom what the company expects from the Indian solar market this year and his take on BIS certification. Here are some excerpts from the interview:
What are your expectations for the Indian solar inverter market is 2020?
We are expecting upward growth in the solar inverter market, considering the large-scale project pipeline in 2020 and 2021. New programs like KUSUM, SKY, SRISHTI, if successful, will boost the demand in the string inverter market.
How will the extension of BIS standards certification affect the sector?
We appreciate the BIS standards for PV Inverters in the Indian market. In 2019, there were multiple extensions after representation from the industry. We hope it will be extended further since the lead time for the testing process is long, and no series guidelines are yet available for higher capacity inverters. There are several products for different market segments. Hence, the implementation of BIS with a phased timeline for different capacities/voltage levels will give more clarity and help manufacturers, as well as labs, to plan and streamline processes in a better way.
Why are developers switching from central inverters to String inverters for ground-mounted projects? 
The choice for products is dependent on a variety of factors, such as project size, location, terrain, the preference of the developer/EPC, etc., for an optimized design. We have the largest 1500V products in both Central (5MW) and string (250kW) for any large-scale utility projects. “Design meets demand” has been our approach to provide the most advanced and best-optimized solution to our customers.
What are some of the biggest issues currently plaguing the Indian solar inverter market, and what can be done to address them? Are there any incentives the government can provide?
Since the supply chain is still evolving in India, more incentives and support to component manufacturers would help the ‘Make in India’ initiative in a big way and give us a cost advantage. Such steps must be considered in a holistic way, which will also have a significant effect in other upcoming industries like EV and its charging infrastructure, where power electronics is a critical part. We have had a 3 GW manufacturing unit in India since 2018 and are shipping products to the global market from the India factory. So, we don’t see any major challenges.
What are your company and product differentiators? 
As per a recent report, Sungrow is a 100% bankable inverter brand and the number one supplier in project financed projects. Inverters being the heart of a project, the lenders, investors, have a lot more confidence on Sungrow to reduce project risk, while ensuring long term steady return from the projects. Sungrow has the vision to be a global leader in clean power conversion technology. This vision drives us every day with a very focused approach to bring the most advanced technological solutions for our customers as the industry leader.
Do you expect competition to increase in 2020 in the Indian market?
Despite the competition in India, we are happy to maintain a leadership position with 17%+ market share, thanks to our technologically advanced product portfolio, superior service network, and reliability in harsh environments. Though we welcome competition, a price war is not desirable for any industry, as we have seen in the Indian solar inverter market in recent times.
Any other market insights?
India is one of the largest growing solar markets, so it is an important market for Sungrow. In India, large scale battery energy storage systems (BESS) projects are yet to come online. However, we expect this market to grow in the coming years with increasing penetration of renewable power to the grid.
Mercom has <a href="https://mercomindia.com/confusion-bis-certification-inverters/" target="_blank" rel="noopener noreferrer">written</a> about the struggles of inverter manufacturers in gaining clarity on the ambiguous BIS certification process. The unavailability of labs, lack of testing facilities and workforce, unreasonable costs of testing, absence of series guidelines, and confusion regarding MNRE notifications were some of the issues that have made the compliance of the order “Solar Photovoltaics Systems, Devices and Component Goods Order 2017” extremely difficult. Mercom <a href="https://mercomindia.com/solar-quality-tests-good-fronius-india-interview/" target="_blank" rel="noopener noreferrer">found</a> that the cost of BIS certification is also a cause of concern for the inverter suppliers apart from the time-taking process.

Component Manufacturers in Renewable Industry Need More Support: Sungrow Interview

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