Record Expansion for the Wind Turbine Industry in 2023 Despite Macroeconomic Challenges

The latest annual "Supply Side Data" report from the Global Wind Energy Council (GWEC) highlights a year of exceptional results for the wind turbine industry, which achieved record installation volumes in 2023.

According to GWEC Market Intelligence, 30 manufacturers collectively added 120.7 GW of new wind capacity despite macroeconomic difficulties and persistent supply chain challenges.

Chinese Dominance in the Wind Turbine Sector in 2023

The dominance of Chinese manufacturers was significant, with an impressive share of 81.6 GW installed, placing four Chinese companies among the top five global suppliers. Goldwind stood out as the top manufacturer of the year, followed by Envision, which advanced three positions from the previous year, and Danish Vestas, which ranked third.

Windey and Mingyang completed the top five, with Mingyang recognized as the largest offshore wind turbine supplier in 2023. Other Chinese names like Sany and Dongfang found their place in the top ten, although 97% of their installations were concentrated in the domestic Chinese market, maintaining the levels of the previous year. Chinese companies also extended their presence beyond national borders, installing 2.3 GW in other markets, with 63% in Asia.

In Europe, the leading wind turbine suppliers remained Vestas, Siemens, Gamesa, Nordex Group, GE Vernova, and Enercon, dominating the 2023 landscape. Globally, despite dropping two positions from 2022, Vestas remained among the top three, thanks to geographic diversification, having installed turbines in 36 countries.

Worldwide, Vestas, Siemens Gamesa, and GE Vernova continue to be the leaders in cumulative wind turbine installations at the end of 2023.

Ben Backwell, CEO of GWEC, Calls for Global Commitment to Expand Wind Energy in Emerging Economies

Ben Backwell, CEO of GWEC, highlighted the sector's entry into a phase of accelerated growth, noting, however, that this is predominantly concentrated in mature markets such as China, the USA, and Germany.

He emphasized the need for greater expansion of wind energy, especially in emerging and developing economies, to meet net-zero goals. Backwell called on world governments to collaborate with the wind industry, supporting the energy transition with long-term policies and multilateral cooperation to sustain sustainable growth and the tripling of renewable energy, as agreed at COP28.

The 2023 installation data includes 23,833 wind turbines produced by 30 different companies, with a notable presence of suppliers from the Asia-Pacific region. These figures represent a robust indicator of growing demand in key production markets, including China, the USA, and the EU.

Strategically, Feng Zhao, Head of Strategy and Market Intelligence at GWEC, noted the increasing importance of the Chinese market, despite the 97% domestic concentration of installations. He also highlighted the ongoing price competitiveness in China, which has driven local manufacturers to seek opportunities abroad while maintaining a strong presence in the domestic market.

The "Supply Side Data 2023" report from GWEC, along with the Global Wind Report 2024, provides a comprehensive view of both supply and demand in the global wind market, offering crucial data for industry members and stakeholders to understand and navigate the sector's evolution.