Global: Vestas edges Goldwind to return to global wind turbine OEM market leadership with a diversified sales strategy

Vestas and Goldwind win the top two positions, respectfully, within MAKE’s top 15 global rankings, according to MAKE’s Global Wind Turbine OEM 2015 Market Share analysis. The two pure-play turbine OEMs prevented multi-industrial turbine OEMs GE and Siemens, from repeating as the top two global market share leaders.

Western turbine OEMs accounted for five of the top seven positions and seven positions overall in the top 15 global rankings. Key differentiators for western turbine OEMs included market diversification and performance in the offshore sector.

The top seven western turbine OEMs added capacity in an average of 20 markets in 2015, compared to fewer than two markets apiece for Chinese turbine OEMs. Vestas led all turbine OEMs with capacity added in thirty-five markets and Siemens accounted for 51% of global offshore wind power capacity added in 2015.

The criticality of finishing projects in China by year-end in order to qualify for expiring FIT levels led to some data discrepancies in the market. MAKE carefully verified project data to the greatest extent possible, which directly impacted regional and global rankings. Despite the determination that some capacity reported for 2015 was installed in 2016, the data indicate Chinese turbine OEMs nevertheless achieved considerable YoY growth in China.

Six Chinese turbine OEMs in the top 15 global ranking averaged 30% YoY growth (only DEC and XEMC installed more capacity in 2014 than in 2015). A dearth of Chinese turbine OEM activity outside of China, however, kept western turbine OEMs from losing ground globally to Chinese turbine OEMs despite China’s record year.  

The 2015 rankings were not as tight as in 2014, with the spread between the top five turbine OEMs increasing to nearly seven percentage points compared to three percentage points in 2014. Vestas posted the largest YoY change in market share percentage points (2.4), but the global average was a mere 0.1, underscoring the competitiveness of the top ranking.

Vestas returns to a familiar spot at the top of the global rankings after falling to third in 2014. Vestas added capacity in 35 markets in 2015, 13 markets more than any other turbine OEM, resulting in an unparalleled 7.6GW year globally. Vestas captured the top spot exclusively with onshore growth.

Goldwind rose to the second position globally due to a record year in China, out-pacing United Power, the next closest OEM, by more than 3GW. Its 2015 installations in China were more than 2.2GW greater than in 2014. Despite adding capacity in more overseas markets than any other Chinese turbine OEM in 2015, these markets amounted to only 3% of its 2015 capacity.

GE maintained dominance in the US, while its acquisition of Alstom bolstered share in Brazil and consolidated its lead in Latin America. The acquisition of Alstom was also a boon in Europe, but it registered strong years independently in Germany, Poland and France. The combined capacity of the two companies contributed to nearly 50% YoY growth in Europe.

Siemens leaned heavily on offshore in 2015 to remain in the top three, one year removed from its top ranking. Without its offshore capacity, Siemens would have dropped to eighth position, its installations in the onshore sector a fraction of those afforded by the well-diversified footprint it capitalized on in 2014

MAKE’s Top Ten global wind turbine OEM rankings are as follows:

1. Vestas
2. Goldwind
3. GE
4. Siemens
5. Gamesa
6. United Power
7. Enercon
8. Envision
9. Mingyang
10. Senvion

MAKE’s Global Wind Turbine OEM 2015 Market Share report is a 36-page report that provides a comprehensive analysis of the competitive positioning of the world’s leading turbine OEMs from a global, regional and countrywide perspective. The report provides comparative market share analysis for 2014 and 2015 and cumulative grid-connected installations in the major sub-regions of the Americas, Europe, and Asia Pacific along with analysis of 21 countries across the globe. MAKE’s market share analysis is based upon grid-connected capacity, with the exception of China, which is analyzed on the basis of mechanically-erected capacity for turbine OEMs operating in that market.