According to the latest Indian market report released by JMK Research, the top three PV module shipments and inverter shipments in India in 2023 are among the top three in terms of PV module shipments and inverter shipments, including Jinko, LONGi, Trina, Sungrow, Sineng, Jinlang, Growatt, GoodWe, etc.
1. Market share of photovoltaic modules
According to a report by JMK Research, JinkoSolar ranked first with 23.1% of India's PV module shipments in 2023, LONGi Green Energy ranked second with 15.5%, and Trina Solar ranked third with 8.5%.
The 4th-7th places are all Indian module manufacturers. According to Global PV, most of the output of Indian module manufacturers is mainly exported to the United States, due to the double reversal of PV modules in China by the United States. After deducting this factor, Zhengxin Solar and Chint Solar also rank high among the modules used in the domestic installed market in India.
2. Inverter shipments
Therefore, in addition to India's local inverter manufacturer Filmer, which ranks third in India's inverter shipments in 2023, Sungrow Power Supply and Sineng Electric are the top two, and Jinlang, Growatt, GoodWe, Shouhang, Deye and SolaX are among the top 10.
If we refine the shipments of string inverters, among the top 10 shipments in India in 2023, Sungrow, Jinlang, Sineng Electric, Growatt, Shouhang, Deye, SolaX and Hewang are among the top 10.
3. 2024 outlook for the Indian market
According to the survey, by the end of 2023, India has installed 60.9 GW of large-scale photovoltaic power plants, which also shows that in 2023, India will only add 6.5 GW of new ground-mounted photovoltaic power plants, and only 3 GW of new rooftop photovoltaic power plants.
However, the analysis pointed out that in 2024, 64 GW of ground-mounted PV power plant projects have passed the audit and are in the pipeline queue. India is expected to add more than 20 GW of PV capacity in 2024, including 15.9 GW of ground-mounted PV plants and about 4.2 GW of rooftop PV plants.
Article source: Global Photovoltaics