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India’s Solar Market Share Leaders See Healthy Competition During First Half of 2018

Mercom-Communications-India

Mercom Communications India, a subsidiary of global clean energy communications and consulting firm Mercom Capital Group, has released its report, India Solar Market Leaderboard 1H 2018. The report covers market shares and shipment rankings across the Indian solar supply chain in the first half of 2018.

 

During the first half (1H) of calendar year (CY) 2018, India installed 4.9 GW of solar power across the country, consolidating its position as the second largest solar market in the world behind China during 1H 2018, and the fifth largest solar market in the world for total cumulative installations. The Indian solar market continues to be one of the most important in the world.

 

The newly released India Solar Market Leaderboard 1H 2018 reveals the market leaders. The report covers market share and shipment rankings across the Indian solar supply chain in 1H 2018.

 

“New leaders are emerging in the highly competitive Indian solar market, while some of the more established companies maintained their leadership position in the first half of 2018,” said Raj Prabhu, CEO of Mercom Capital Group.

 

According to the report, the top 10 large-scale developers accounted for 55 percent market share in 1H 2018, with all others making up the remaining 45 percent of the market share. There were also approximately 300 utility-scale project developers in the country with projects of at least 5 MW or more in operation.

 

Adani remained the largest project developer in terms of total cumulative installations, as well as the top installer in terms of capacity installed through the end of 1H 2018.

 

There are around 70 large-scale project developers with a pipeline of 5 MW or more in India. ReNew Power had the largest project pipeline at the end of 1H 2018.

 

Sixteen percent of solar installations in 1H 2018 were in the rooftop solar sector, standing at 805 MW. Rooftop installations rose by 55 percent YoY with cumulative installations totaling nearly 2,410 MW as of June 2018.

 

In 1H 2018, the top 10 installers made up only 27 percent of all rooftop projects installed in India, leaving all other rooftop developers with 73 percent of the share, a reflection of the fragmented nature of the market.

 

Sterling and Wilson was the top EPC company cumulatively and in 1H 2018.

 

Tata Power Solar had the largest cumulative rooftop portfolio, and CleanMax emerged as the top rooftop installer in 1H 2018.

ABB leads the solar inverter market in India. As of 1H 2018, ABB remained at the top of the list in terms of solar inverter shipments to the country.

 

In 1H 2018, the top five module suppliers accounted for over 37 percent of the market. At the end of June 2018, Trina Solar was the leading module supplier to India in terms of cumulative shipments while ZnShine was the top supplier in 1H 2018.

 

There are over 50 suppliers of solar mounting structures active in the Indian market, the top supplier being Ganges Internationale.

 

There are over 30 suppliers of solar trackers active in the Indian market. As of 1H 2018, approximately 4 GW of trackers have been supplied for project development. NEXTracker and Artech Solar lead the pack with cumulative shipments. L&T was the top supplier in 1H 2018.

 

About Mercom Communications India

Mercom Communications India, a subsidiary of US-based Mercom Capital Group, is a clean energy research and communications firm in India recognized worldwide for its expertise in Indian cleantech markets. Located in Bangalore, India, Mercom has been providing communications and research services across India for clean energy organizations since early 2009.

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