February 26 (Renewables Now) - Vestas Wind Systems A/S (CPH:VWS) remained the leading wind turbine supplier for a second year in a row in 2017, according to preliminary rankings released today by FTI Consulting Inc (NYSE:FCN).
The Danish manufacturer held the top spot thanks to its wide geographic diversification strategy and strong showing in the US, the advisory firm said.
It is followed by Siemens Gamesa Renewable Energy SA (BME:SGRE), which moved up two positions, reflecting the merger between Gamesa and Siemens Wind Power, which ranked fourth and sixth in 2016. The merged company's strong position in the offshore segment and India, and improved performance in the US also helped.
General Electric Co (NYSE:GE) lost two places and ranked fourth, which was attributed to a loss in its home market, where Vestas was the leading supplier for the second year running.
China's Xinjiang Goldwind Science & Tech Co Ltd (HKG:2208) remained third in the ranking, but the share in its domestic market fell 15% last year.
German manufacturer Enercon GmbH kept the fifth position, benefiting from strong market growth in Germany. Fellow German turbine makers Nordex (ETR:NDX1) and Senvion SA (ETR:SEN) also moved up, with the former climbing one position and the latter returning to the top 10. The three other companies in the top 10 are all from China, FTI Consulting said.
The global wind market continued to see negative growth in 2017, recording a 5% year-on-year drop in new installations, mainly due to a slowdown in China, the firm noted.
At the same time, the top five wind turbine original equipment manufacturers (OEMs), accounted for 62% of wind additions, almost 10% more than in 2016. "The uplift is a clear indication that the recent M&A activity has helped western turbine suppliers enhance their strategic positioning and consolidate their market share," said Feng Zhao, senior director at FTI Consulting.
FTI Intelligence's report Global Wind Market Update ― Demand & Supply 2017 will be published in March.