The wind turbine manufacturing industry in China achieved record-breaking orders of 100 gigawatts (GW) capacity in 2023, as per Wood Mackenzie’s “China Wind Turbine Order Ranking Analysis 2023” report.
However, the report emphasized that wind turbine installations did not progress in terms of speed despite the enormous orders. According to the data, the industry only managed to complete 50% of 2022 wind turbine orders by the end of last year.
Top 3 Chinese wind turbine companies
As expected, the Chinese wind turbine giant Goldwind reclaimed the top spot after two long years. It accounted for 17.7% of order intake in China’s wind turbine manufacturing industry.
Meanwhile, Shanghai-based Envision Energy trailed close behind with 17.4% of order intake. It also won the majority of foreign wind turbine orders, with a capacity of 4.1 GW.
Minyang landed third with an order intake of 16.1%, enabling it to defend its dominance in the offshore wind turbine manufacturing industry.
About the China Wind Turbine Order Ranking Analysis 2023
The China Wind Turbine Order Ranking Analysis 2023 is conducted by Wood Mackenzie to analyze the country’s wind turbine order progress in the first half of 2023.
It entails a comprehensive ranking of wind turbine order activity in China by original equipment manufacturers and developers. It also includes wind turbine ratings in the onshore and offshore wind segments.
In addition, it also covers turbine pricing by MW rating and overseas order capture performance analysis of Chinese turbine OEMs. Interested readers of the report must pay $5,990 to access the full document.
Significance of wind energy
Wind energy is undoubtedly a significant source of energy, considering that is clean and renewable. For context, wind turbines accumulate energy from wind blows via mechanical power.
Wind blows rotate the rotor blade converting the kinetic energy into rotational energy. A shaft transmits the rotational energy to the system’s generator, which generates electrical energy.
Apart from wind energy’s abundance, it also does not require burning fossil fuels that pollute air unlike the mainstream energy resources today.
All that said, the China Wind Turbine Order Ranking Analysis 2023 report only highlights the country’s dominance in the global wind turbine manufacturing space. However, its major turbine price reduction in 2023 significantly reduced the profits of local turbine suppliers. It would be interesting to see how both onshore and offshore wind industries will grow and improve globally in the coming years.
