World
China Leads Global Wind Turbine Manufacturers’ Market: Four OEMs Top The Charts
Amit Mishra
May 09, 2024, 12:46 PM | Updated 01:07 PM IST
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China is emerging as a dominant player in global wind turbine manufacturing as its four original equipment manufacturers (OEMs) make it to the top five global rankings for the first time in the sector's history.
According to data compiled by British research firm Wood Mackenzie, Goldwind, headquartered in China, maintained its lead for the second consecutive year, boasting a record capacity of 16.3 GW.
Following closely, Shanghai's Envision secured the second spot with 14.1 GW, while Vestas, the sole Western OEM in the top five, claimed third place with 11.5 GW.
Chinese state-owned enterprise Windey and Guangdong-based MingYang rounded out the top five with capacities of 10.1 GW and 9.9 GW, respectively.
Together, these top five OEMs commandeer 54 per cent of the global wind market, a substantial share.
Meanwhile, outside of China, Vestas continued its dominance for the sixth consecutive year, installing over 10 GW. Spain's Siemens Gamesa Renewable Energy (SGRE) surpassed General Electric (GE) to clinch the second spot with 9.7 GW, capitalising on offshore projects, while GE secured third place with 7.2 GW, largely supported by the US onshore market.
Nordex came in at fourth place with 6.4 GW and Enercon at fifth place with 2.4 GW. Overall, the top five Western OEMs represented 93 per cent of the global volumes outside of China.
Chinese manufacturers could boost their market share even further by leveraging their cost competitiveness, which would make it "difficult for developers and policymakers to turn down Chinese suppliers," Wood Mackenzie said in the report.
However, this growing reliance on Chinese suppliers may introduce supply vulnerabilities, especially amidst escalating tensions between the US and China.
The United States has set an ambitious goal of ramping up its offshore wind power generation capacity to 110,000 megawatts by 2050, a significant leap from tens of megawatts currently. The 2050 target would be equivalent to the capacity of 110 nuclear reactors.
Given its existing imposition of tariffs on Chinese solar panel imports, the US may consider implementing analogous measures concerning Chinese wind turbines as it endeavours to bolster its renewable energy sector.
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