Top Five Manufacturers, Including ABB, Dominate 70% of India's PV Inverter Market

According to Mercom India Research, as of the second quarter of 2017, over 70% of India's photovoltaic (PV) inverter market is controlled by five major manufacturers.

ABB Leads with 20% Market Share

The Swiss power and automation group ABB leads the market with a 20% share, followed by German inverter manufacturer SMA Solar Technology, which holds approximately 15% of the market. To date, ABB has supplied a total of 5 gigawatts (GW) of PV inverters to the Indian market, while SMA has delivered over 3 GW.

Other key suppliers include Toshiba Mitsubishi-Electric Industrial Systems (TMEIC), China's Chint Group, France's Schneider Electric, and Japan's Hitachi.

Second Quarter 2017 Highlights

Mercom India Research's Q2 2017 India Solar Market Quarterly Report reveals that ABB added over 450 megawatts (MW) of PV inverter capacity in the second quarter, followed by Hitachi with 300 MW, and SMA and Chint each adding over 150 MW.

Growing Competition in the Indian Market

Mercom India Research notes that as India's solar market continues to expand, an increasing number of inverter manufacturers are vying for market share. Recently, Enphase Energy and SolarEdge Technologies have established offices in India.

India's PV Capacity as of June 2017

Based on Mercom's data, India's total installed PV capacity, including rooftop solar, reached 14.7 GW by June 2017.