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The top 10 wind turbine manufacturers continue to dominate the global wind energy market in 2018 due to their significant wind power capacity installations over the past year. According to the latest preliminary rankings for the world’s largest wind turbine original equipment manufacturers (OEMs) released by FTI Intelligence, Denmark based wind turbine company Vestas remained the world’s largest wind turbine manufacturer and supplier in 2018, thanks to its wide geographic diversification strategy and strong performance in the U.S. market. Other top 10 wind turbine manufacturers in the world include Siemens Gamesa, Goldwind, GE, Enercon, Nordex Group, Senvion, United Power, Envision Energy, and Suzlon. Together, this segment of the world’s largest wind turbine companies account for over 75% of the total global installed capacity every year, and their industrial dominance is expected to continue over the future.
Wind power is currently one of the fastest-growing renewable energy segments in the world. Since wind is one of the most abundantly available and cost-effective energy resources, wind energy has been widely used as an alternative source to the fossil fuels, to generate electricity around the world. According to a recent market report from ReportLinker, the global wind energy market size increased from approximately US$24 Billion in 2006 to over US$100 Billion in 2016, growing at a CAGR of 15.6%. During 2017-2025, the wind power market size is expected to grow to over US$110 Billion. A major boost in the investment is expected due to an increase in the capacity of installations, led by countries such as China, which is also the world’s largest wind energy market by capacity. Other major wind energy and wind turbine markets include the US, Germany, India, France and the UK.
Currently, Asia-Pacific is the largest wind turbine market in terms of cumulative installed wind power capacity with about 45% share in 2017, followed by Europe and North America with a share of 33% and 20%, respectively. South and Central America and the Middle East and Africa had small shares of less than 3% each in the same year. China nowadays represents over 43% of world’s total wind energy capacity, with the addition of over 20GW per annual. The US had the second-largest annual installed capacity after China with a share of 15% in 2017. Here is a comprehensive look at our wind energy companies list, breaking down the top companies that specialize in the manufacturing of wind turbines in the world.
The Danish wind turbine manufacturer Vestas is currently the world’s largest wind turbine maker, representing over 16% of the world wind turbine market. The company was founded in 1898 and is headquartered in Aarhus, Denmark. So far, Vestas has installed over 60,000 turbines, which has a total joint capacity of 82 GW, across 76 countries. It has manufacturing facilities in North and Latin America, Europe and Asia.
Siemens Gamesa, the latest merger between Siemens Wind Power and Gamesa, ranked second in the world’s top 10 wind turbine manufacturers list in 2018, primarily due to its strong position in the offshore sector in India and improved position in the United States.
Chinese wind turbine supplier Goldwind remains the third largest in the world of 2018. As China continues to be the world’s largest wind energy market and number one wind turbine installer, Goldwind is significantly benefited by this soaring demand, making it the largest wind turbine manufacturer in China. By tate 2017, Goldwind has installed a total capacity of 41GW wind turbines in over 20 major countries around the world.
With over 25,000 wind turbines installed globally, GE is one of the world’s leading wind turbine suppliers. Its portfolio of turbines features rated capacities from 1.7 MW to 4.8 MW (Onshore) and 6 MW to 12 MW (Offshore). However, GE fell two positions to become world’s 4th largest wind turbine maker in 2018, particularly due to the loss in its home market, where Vestas overtook it as the No. 1 supplier for the second year in a row.
Enercon, based in Aurich, Lower Saxony, Germany, is the wind turbine market leader in Germany. In 2018, it retains fifth place in the top 10 wind turbine companies list by taking advantage of strong domestic market growth in Germany, where nearly 6.5 GW were installed last year. With more than 22,000 wind turbines installed in over 30 countries, ENERCON is also recognized as one of the leading manufacturers at the international level.
Nordex is a European company that designs, sells and manufactures wind turbines globally. The company was founded in 1985 in Give, Denmark, and is now headquartered in Rostock, Germany, while management is located in Hamburg. Production takes place in Rostock as well as in China. In 1995 Nordex was the first company in the world to mass-produce a 1 MW wind turbine.
Formerly operated under the wing of India’s Suzlon, German turbine manufacturer Senvion, is now owned by a US private investment firm. Over 26 years in the business and more than 7,800 wind turbine installations across the world, Senvion is one of the world’s largest international manufacturers of onshore and offshore wind turbines.
Headquartered in Beijing, United Power owns five subsidiaries, three holding companies and six manufacturing and R&D bases in six cities across China, its main businesses range from design and research, manufacturing, to sales and services of large wind turbine generators. Restructured and established in 2007, United Power is now wholly-owned by China Guodian Corporation Group, one of the five largest state-owned power generation groups in China and a Fortune Global 500 Company.
Envision Energy, based in Shanghai, China, is one of the world’s largest wind turbine manufacturers, it also provides energy management software, and energy technology services. The company has installed over 2400 wind turbines globally and it’s software that is used in over 6,000 wind turbines in North America, Europe, Latin America and China.
Suzlon Energy is a wind turbine supplier based in Pune, India. It is the largest wind turbine maker in India, with a global footprint across Asia, Australia, Europe, Africa, North and South America. Today, Suzlon is one of the world’s largest and leading producers of wind turbines, also one of the world leaders in renewable energy solutions includes products under Wind Energy & Solar energy.
As wind power continues to be one of the most commonly used renewable energy sources in the global market, these top 10 wind turbine suppliers are expected to further strengthen their market dominance by intensively investing on R&D in terms of product innovation, efficiency, and management software etc. It is forecast that the global additions of new wind power capacity for the are estimated at 689 GW over the next 10 years, which will bring cumulative installations to 1,160 GW by the end of 2027 – up from today’s 541 GW – meaning that the demand for wind turbines will be higher than ever. Therefore, the future of world’s top 10 wind turbine manufacturers looks very promising with strong opportunities for growth in the next few years.