Denmark’s Vestas Wind Systems A/S (CPH:VWS) was the world’s number one wind turbine supplier in 2018 holding a 20.3% market share of the total 50,617 MW installed over the year, according to the latest market intelligence report published by the Global Wind Energy Council (GWEC).
Vestas’ success is a result of its geographic diversification strategy and strong performance in the Americas, GWEC said.
Among the top 15 suppliers, there are eight China-based companies led by Xinjiang Goldwind Science & Technology Co Ltd (HKG:2208), which took the second spot in the ranking. However, Chinese turbine makers rarely step outside the domestic market. As GWEC CEO Ben Backwell explained, if the Chinese sales were to be excluded from the data set, none of the suppliers, apart from Goldwind, would make it in the top ten in 2018.
Details on the market share of top 15 wind turbines suppliers in 2018 are presented in the table below:
Market share (in %)
Vestas Wind Systems A/S
Xinjiang Goldwind Science & Technology Co Ltd
Siemens Gamesa Renewable Energy SA
GE Renewable Energy
Envision Energy Ltd
China Ming Yang Wind Power Group Ltd
Guodian United Power Technology Co Ltd
Shanghai Electric Wind Power Equipment Co Ltd
Suzlon Energy Ltd
Zhejiang Windey Co Ltd
CSIC Haizhuang Windpower Equipment Co Ltd
XEMC Windpower Co Ltd
Spain’s Siemens Gamesa Renewable Energy SA (BME:SGRE) rounds up the top three in 2018. It fell one spot due to fewer installations in the UK, Germany and India. GE Renewable Energy is positioned fourth on the global list and the first in the US market.
Regarding the technology, of the total 20,641 wind turbines installed last year, high-speed geared systems were the top choice with a market share of 69.7%. Medium speed and direct drive turbines held a 3.7% and 26.6% market share, respectively.
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