For wind turbine industry, previous year set the record for installed capacity worldwide. More than 63GW of capacity is installed, achieved by 22,893 wind turbines manufactured by 33 suppliers. Vestas continues to be the top supplier selling its diversified products in more than 40 countries. Most of the top wind turbine manufacturers also installed off-shore turbines, which accounted for 6.1 GW of capacity installed in 2019. Industry trend of consolidation continued in 2019, with top six manufacturers now holding over 72% of global market share. Additionally, most large manufacturers are vertically integrating and provide complete solutions for wind generated energy challenges.
- In 2019, 22,893 wind turbines were installed, which came from 33 suppliers; previously there were 37 suppliers.
- Suppliers who were able to stay in the market shifted to more global diversification, installing in more than forty different countries.
- Vestas and Siemens Gamesa are the top sellers due to their diversification and geographic coverage areas.
“The report says that current trends favor companies that shift from being solely manufacturers to evolving into holistic systems and solution providers to allow for greater market diversification.”