In a remarkable industry feat, China’s wind turbine orders surged to an unprecedented level in 2023, achieving a milestone of 100 GW, as detailed in the insightful analysis by Wood Mackenzie. This development underscores China’s commitment to expanding its renewable energy infrastructure.
Wood Mackenzie’s Findings on Installation Progress
Despite this impressive volume of orders, Wood Mackenzie’s “China Wind Turbine Order Ranking Analysis 2023” revealed that actual installation rates lagged behind the bustling order book. By the end of 2023, only a fraction—merely half—of the wind turbines ordered in the previous year were fully installed and operational.
Who’s Leading the Wind Turbine Manufacturing Race?
Amidst intense competition, Goldwind emerged as the frontrunner in China’s wind turbine market. Climbing back to the apex position after two years, Goldwind captured a 17.7% share of the total order intake, demonstrating the company’s industry dominance.
Close on Goldwind’s heels was Shanghai’s Envision Energy, which not only took the second spot with a 17.4% share but also achieved global recognition by securing the most overseas wind turbine orders totaling 4.1 GW.
Securing its place as the third-leading supplier, Mingyang continued to lead the offshore wind energy sector, with a notable 16.1% share of order intake, reinforcing its expertise in this specialized market.
The Impact of Competitive Pricing on Turbine Manufacturers
The report by Wood Mackenzie highlighted the double-edged sword of the competitive landscape in China’s wind turbine sector. The aggressive pricing strategies led to a record low in turbine prices last year. However, this resulted in narrower profit margins for the manufacturers, indicating potential challenges ahead for the industry.
As the Chinese wind turbine market continues to evolve, these developments could signal changes in industry strategies and a greater emphasis on improving the efficiency of installation processes to keep pace with the burgeoning order books.
