Wind turbine manufacturers achieved a milestone in 2023, surpassing previous records in global installations despite facing macroeconomic headwinds and supply chain hurdles, according to market intelligence from the Global Wind Energy Council (GWEC).
A staggering 120.7GW of new capacity was installed last year by 30 wind turbine manufacturers worldwide, underscoring the resilience and vitality of the renewable energy sector in the face of adversity.
Chinese suppliers led the charge, accounting for 81.6GW of installations, with four Chinese companies securing spots in the top five rankings for supplier standings. However, the majority of Chinese installations remained concentrated within the domestic market, highlighting the ongoing importance of the Chinese wind energy landscape.
Feng Zhao, Head of Strategy and Market Intelligence at GWEC, noted, “Although the fierce price competition in China has been driving Chinese turbine OEMs to pursue opportunities in overseas markets since 2021, 97 per cent of their installations in 2023 are still in their home market.”
In Europe, Vestas, Siemens Gamesa, Nordex Group, GE Vernova, and Enercon maintained their positions as the top five turbine suppliers, with Vestas boasting the most geographically diverse installations across 36 countries.
Goldwind emerged as the top supplier globally in 2023, followed by Envision and Denmark's Vestas. Notably, Chinese companies Windey and Mingyang secured fourth and fifth place respectively, with Mingyang claiming the title of the world's largest offshore wind turbine supplier.
Despite a record year for wind energy installations, GWEC CEO Ben Backwell emphasized the need for accelerated growth, particularly in emerging and developing economies, to achieve global climate goals.
“The wind industry can thrive globally if governments collaborate with industry to implement the energy transition through supportive, long-term policymaking and multilateral cooperation,” Backwell stated.
He further highlighted the imperative for market conditions conducive to a healthy global manufacturing supply chain, stressing the industry's readiness to collaborate with partners worldwide to foster long-term market growth and deliver on renewable energy targets outlined at COP28.
