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In a year marked by economic uncertainties and supply chain disruptions, wind turbine manufacturers achieved a record installation of 120.7 GW of new capacity in 2023, according to the Global Wind Energy Council’s (GWEC) annual Supply Side Data report. Despite these challenges, the industry saw significant growth, driven predominantly by Chinese companies.
Leading the Charge
Chinese manufacturers installed a substantial 81.6 GW, with four of the top five positions in the global supplier rankings occupied by Chinese firms. Goldwind emerged as the top supplier, followed by Envision in second place, Denmark’s Vestas in third, with Windey and Mingyang rounding out the top five. Notably, Mingyang also became the largest offshore wind turbine supplier globally in 2023.
Global Distribution
Although Chinese companies dominate the rankings, 97% of their installations were within China. Outside of their home market, Chinese firms installed 2.3 GW, with 63% of this capacity in the Asia region. In Europe, traditional suppliers like Vestas, Siemens Gamesa, Nordex Group, GE Vernova, and Enercon retained their leading positions. Vestas, despite dropping two spots globally, remains the most geographically diverse manufacturer with installations in 36 countries.
Industry Insights
Ben Backwell, CEO of GWEC, commented on the report’s findings: “The data in this report paints a picture of a global industry that has entered a period of accelerated growth. However, that growth is concentrated in mature markets like China, the US, and Germany. For wind energy to play its full role in the push to achieve Net Zero, growth needs to speed up across the globe, particularly in emerging and developing economies.”
New Installations and Market Share
A total of 23,833 wind turbines were installed worldwide in 2023, manufactured by 30 different companies, with the majority hailing from the Asia-Pacific region. Goldwind led the global market with 16.7 GW of new capacity, while Envision moved up three positions to second place. Despite its slip in the rankings, Vestas’ installations increased by 1% from the previous year.
Future Prospects
Feng Zhao, Head of Strategy and Market Intelligence at GWEC, highlighted the need for global collaboration: “Although the fierce price competition in China has driven Chinese turbine OEMs to pursue opportunities in the overseas markets since 2021, 97 per cent of their installations in 2023 are still in their home market.”
The report underscores the importance of supportive, long-term policymaking and multilateral cooperation to sustain industry growth and achieve climate goals. Backwell emphasized the necessity for faster progress and robust market conditions to maintain a healthy global manufacturing supply chain.
Conclusion
The GWEC report is a crucial tool for understanding the global wind market from both supply and demand perspectives. It highlights the remarkable achievements of the wind energy industry in 2023 while calling for increased global efforts to ensure the continued growth and success of renewable energy.
For more detailed data and insights, the full report can be downloaded from GWEC’s Market Intelligence area.
