MAKE has released its annual Global Wind Turbine original equipment manufacturer (OEM) 2015 Market Share report, which puts Vestas just ahead of Goldwind last year. According to the report, fragmentation and a largely singular market focus have prevented Chinese turbine OEMs from moving farther up the 2015 rankings despite a record year of growth in China.
An earlier report by FTI Consulting and Bloomberg New Energy Finance placed Goldwind just above Vestas.
According to the MAKE report, Vestas and Goldwind win the top two positions, respectively. 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. The key differences for western turbine OEMs were 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 with fewer than two markets apiece for Chinese turbine OEMs. Vestas led all turbine OEMs with capacity added in 35 markets, and Siemens accounted for 51% of global offshore wind power capacity added in 2015.
Despite the determination that some capacity reported for 2015 was installed in 2016, the data does indicate that Chinese turbine OEMs, nevertheless, achieved considerable year-over-year growth in China.
Six Chinese turbine OEMs in the top 15 global ranking averaged 30% year-over-year 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 7% compared with 3% in 2014. Vestas posted the largest year-over-year change in market share percentage points with 2.4%, but the global average was a mere 0.1%, underscoring the competitiveness of the top ranking.
Vestas returned to 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 the addition 7.6 GW globally last year. 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 3 GW. Its 2015 installations in China were more than 2.2 GW greater than in 2014, but despite adding capacity in more overseas markets than any other Chinese OEM in 2015, these markets amounted to only 3% of its 2015 capacity.
MAKE’s Top Ten global wind turbine OEM rankings are as follows:
- Vestas
- Goldwind
- GE
- Siemens
- Gamesa
- United Power
- Enercon
- Envision
- Mingyang
- Senvion
