Chinese Wind Turbine Manufacturers Lead Global Market in 2023, Wood Mackenzie Analysis Shows

Credit: Goldwind

Chinese wind turbine original equipment manufacturers (OEMs) asserted dominance in the global wind market in 2023, with four Chinese companies securing positions in the top five, according to an analysis by Wood Mackenzie.

Science & Technology etained its top spot for the second consecutive year, installing a record-breaking 16.3 GW of capacity. A/S was the sole western OEM in the top five, ranking third with 11.5 GW connected. Envision, Windey, and followed closely, claiming the second, fourth, and fifth positions, respectively.

's first batch of massive renewable brs have a 2024 deadline on the horizon which has accelerated installations to an unprecedented pace of 74.7 GW. This combined with a mature supply chain and ambitious provincial targets are pushing wind deployment to an unprecedented level in China,” commented Endri Lico, principal analyst at Wood Mackenzie.

China accounted for 65% of global wind capacity in 2023, driving intense competition among 14 different Chinese OEMs, which resulted in significant price reductions for both onshore and offshore turbines.

Outside of China, Vestas maintained its leadership position for the sixth consecutive year, installing over 10 GW. (SGRE) followed with 9.7 GW, primarily boosted by offshore projects. General Electric (GE) added 7.2 GW, mainly in the US onshore market. Nordex and Enercon rounded out the top five western OEMs.

“Western OEMs practiced commercial discipline, showing little appetite for price reduction to grow market share. 2023 saw some improvement in financial performance as some of the supply chain disruptions eased, but quality and reliability issues have emerged as another source of instability for western OEMs,” Lico remarked.

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