Top 3 Western Wind Turbine OEMs to Control 60% Market by 2028

Top 3 Western Wind Turbine OEMs to Control 60% Market by 2028

The top five global wind turbine OEMs are expected to control 75% of the sector by 2028, while the leading 3 western OEMs will increase their market share to 60%

Wind Turbine OEMs 2028

Market share consolidation by global wind turbine original equipment manufacturers (OEMs) is set to intensify. After a decade of fragmentation, the top five global turbine OEMs are strengthening their hold on the industry. And by 2028, they are expected to control three quarters (60 percent) of the sector.

The leading three western turbine OEMs will increase their market share from 47 percent – or 32 GW – in 2019 to more than 60 percent – or 48 GW – by 2028, according to new research from Wood Mackenzie.

Vestas, SGRE and GE will draw upon strategic relationships with major asset owners to execute large-scale projects while also investing in new products and technologies. Vestas, the clear leader in this space, will see it’s market share elevated to an average of 20 percent over the next five years. SGRE will surpass 100 GW of cumulative installed capacity by the end of 2019, becoming the second turbine OEM after Vestas to reach this milestone.

Vestas reinforces its leading position by being the first turbine OEM to install more than 10 GW of annual capacity during 2019. Vestas, SGRE, GE and Goldwind will each install around 10 GW in 2020 due to a surge in the US and China market activity.

The report further adds that Goldwind’s leading position in China, combined with large projects in Australia and Canada, will see the company take the number two spot for the very first time in 2020.

“The appetite to invest and churn out new products and technologies to lower Levelised Cost of Energy (LCOE) compared to peers will aid in developing an improved commercial position. Regional players, however, will face an uphill battle to compete, as seen from recent troubles at Senvion and Suzlon,” said Shashi Barla, Wood Mackenzie principal analyst.

As Barla notes, regional pioneers Senvion and Suzlon are struggling. Suzlon’s failed attempts to find a bailout partner have pushed the company into deeper trouble. Senvion offloaded some European assets – namely its blade manufacturing facility in Portugal and its global intellectual property – to SGRE, while other business units are still scouting for investors.

The outlook isn’t all bad for regional players, however. Nordex and Enercon are expected to strengthen their presence with increasing investments in new wind turbine technologies. The former is expected to install a record 5.5 GW of average annual capacity in 2020 and 2021, a substantial increase of 40 percent when compared with 2019.

Turbine OEMs only focussed on the onshore wind segment will compete in a flat – 60 GW average – global market for the next decade. However, the offshore industry is expected to see a flurry of activity over the outlook period.

“SGRE continues to be an undisputed offshore market leader, with more than 15 GW of backlogged orders. GE has made an enormous splash in this space, with a combined 4.8 GW of orders signed this year in the UK and the US.

“MHI Vestas’ robust positioning will elevate its global rank to be within the top ten OEMs by 2023 and number five globally by 2027-2028, representing the only pure-play offshore player within the top five. The company already secured contracts in seven countries totalling more than 7 GW.

“MingYang has become a rising star in the Chinese offshore sector, with more than 4.5 GW of orders signed in the past year. A closer relationship in Guangdong province, the largest offshore market in China, will sustain MingYang’s positioning in the long-term,” added Barla.

Feed-in-tariff (FiT) phase-out in China is expected to trigger a surge in order volume to a combined 56 GW in 2019 and 2020.

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Ayush Verma

Ayush is a staff writer at and writes on renewable energy with a special focus on solar and wind. Prior to this, as an engineering graduate trying to find his niche in the energy journalism segment, he worked as a correspondent for