Order intake by Chinese wind turbine OEMs advanced beyond domestic dominance in H1 2024 | REVE News of the wind sector in Spain and in the world

As the global energy landscape continues to evolve, the wind energy sector is experiencing unprecedented transformation. Drawing from data from Wood Mackenzie’s rich Wind Services offering, explored the causes and impacts of this pivotal shift in a recent webinar.

In the first half of 2024, Chinese wind
turbine manufacturers not only solidified their domestic dominance but
also expanded their global footprint, marking a significant shift in the
industry.

This pivotal moment was the focus of our recent webinar, where industry experts drew data from our Wind Services offering to share critical insights on how Chinese OEMs are reshaping the global wind turbine market.

During the presentation, we examined how
Chinese OEMs’ expansion is affecting supply chains and discussed the
long-term market projections for the wind energy sector.

Fill out the form at the top of the page to
watch the webinar recording and download the accompanying presentation
slides, and read on for a quick overview of some of the key takeaways:

Record-breaking global order intake

In H1 2024, global wind turbine order
intake hit a record-breaking 90 gigawatts, driven largely by China’s
remarkable contributions. Chinese turbine OEMs, leveraging strong
domestic demand, accounted for over 80% of this total—solidifying their
position as global leaders in the sector.

While Western manufacturers once held over
60% of the market share before the pandemic, they have since dropped to
less than 20% in 2024. This decline is compounded by increased
competitiveness from non-Western manufacturers, especially from China
and India.

Suzlon breaks into the top 10, while Goldwind expands globally

Suzlon stands out as the only non-Chinese
manufacturer to break into the top ten for most in demand turbine
models, largely thanks to its S144 model, fully deployed within the
Indian market.

Goldwind has also successfully expanded outside of China, claiming the third position in global orders in H1.

When excluding China, Western turbine
manufacturers like Vestas continue to lead, but Chinese and Indian
manufacturers, such as Envision and Suzlon, are making substantial
inroads, reflecting a shift in market power.

China’s dominance in higher-capacity turbines

China’s push for higher-capacity onshore
and offshore turbines has been a key driver of global growth. For
instance, 36 gigawatts of turbines in the 5-6.99 MW range were ordered
in China in H1 2024, compared to 20 GW ordered globally outside of
China. The country also saw 12 gigawatts ordered for onshore turbines in
the larger 7-9.99 MW range, underscoring its aggressive push towards
higher-capacity installations.

This trend highlights China’s growing
leadership in deploying larger, more efficient turbines—a significant
factor reshaping global supply chains and market dynamics.

China contributes 82% of global orders

The numbers speak volumes about China’s
rising influence: the country contributed 82% of the 91 gigawatts of
wind orders in H1 2024, reflecting a 42% year-on-year growth. Over 90%
of these orders were for onshore wind, with key regions like Inner
Mongolia and Xinjiang driving growth.

While offshore wind continues to grow, the
market faces challenges, particularly around permitting conflicts that
have delayed construction in provinces such as Guangdong and Jiangsu.

Chinese OEMs lead international expansion

Despite facing intense competition at
home, where fierce price competition has driven down turbine prices,
Chinese OEMs maintain a competitive edge internationally. Their turbines
are 25-32% less expensive than those from Western manufacturers, giving
them an advantage in markets like Central Asia, the Middle East, and
Latin America. However, challenges such as local content requirements
and concerns around quality and bankability in Western markets remain
barriers to further expansion.

Watch the webinar and download the presentation

To dive deeper into the data and analysis
surrounding this remarkable shift, watch the full webinar and download
the accompanying slide deck by filling out the form at the top of the page. Click here to find out more about Wood Mackenzie’s Wind Services offering.