The largest VEU producers in 2024

According to the "Global Wind Turbine Market Share in 2024" data from BNEF, the following trends are observed: **Wind Turbines Global Market Shares for 2024** In 2024, a total of 121.6 gigawatts (GW) of wind power plants were put into operation worldwide - twice as much as in 2019, indicating rapid growth in the industry: - Out of the total new capacity of 109.9 GW (about 90%), onshore wind farms account for it. - The remaining 11.7 GW (10%) are represented by offshore wind parks. **Dominance of Chinese Wind Turbine Manufacturers** Six out of the ten largest global wind turbine manufacturers come from China. For the first time since the publication of the BNEF ranking in 2013, the top four positions are occupied by companies only from China, while European and American suppliers have dropped out of the top three leaders. The leaders of the ranking for the largest global wind turbine manufacturers in 2024: - Goldwind continues to hold its leading position in the global wind energy industry. In 2024, this largest Chinese producer of wind turbines installed 19.3 GW of new capacities. - Envision, despite a decrease in the volume of new installations last year, maintains second place on the list with 14.4 GW. - Windey takes third place with 12.5 GW. - Mingyang closes the quartet of Chinese leaders with 12.2 GW. Over the period in 2024, the company showed one of the largest growth rates in terms of turbines supplied. - The Danish producer Vestas became the last supplier among five to surpass the mark of 10 GW. **Markets and Manufacturer Dependence:** Chinese manufacturers mainly depend on their domestic market, which accounts for 70% of global installations. In contrast, European and American suppliers have a more diverse customer base regionally.

Chart - Volume and number of countries where turbines from manufacturers were installed (source - GWEC).
Note - The volume of deliveries differs from the above figures, as the methodology of GWEC takes into account the number of concluded supplies

However, outside China, the number of installed wind power plants decreased by 10% compared to the level in 2023. The market for wind energy in the USA continues to decline for the fourth consecutive year: in 2024, only 5.4 GW was installed, which became the lowest indicator over the past ten years.

Conclusion

The structure of the market highlights the dominance of onshore facilities over offshore ones at a global scale. The role of Chinese companies is particularly noteworthy, as their dominance is an important factor in the global redistribution of forces on the wind energy market, strengthening China's leadership positions and influencing the formation of the world's energy structure.
The dynamics of changes in leaders among suppliers of wind energy installations.