These Four Power Giants Rule the World's Growing Wind Market
(Bloomberg) -- Four power giants, led by Siemens Gamesa Renewable Energy SA, dominate the world’s wind turbine market, making up 54 percent of sales in 2017.
Offshore wind installations helped Zamudio, Spain-based Siemens leapfrog over Vestas Wind Systems A/S to become the world’s top turbine manufacturer, according to a report Monday from Bloomberg New Energy Finance. Siemens commissioned 9.52 gigawatts of onshore and offshore turbines last year. Vestas, based in Aarhus, Denmark, added 7.71 gigawatts and remained the top onshore turbine maker. That doesn’t include offshore equipment from a Vestas joint venture with Mitsubishi Heavy Industries Ltd.
Xinjiang Goldwind Science & Technology Co. of China and Boston-based General Electric Co. rounded out the top four which, combined, added 27.72 gigawatts.
Global wind installations –- onshore and offshore -– reached about 56 gigawatts in 2017, slightly above the 54 gigawatts booked in 2016 but well below the record 63 gigawatts in 2015, according to BNEF. The recovery is expected to continue with additions reaching about 59 gigawatts in 2018 and 67 gigawatts in 2019.
The offshore wind market is expected to grow 16 percent a year to 2030 as Taiwan and the U.S. join core markets in the U.K., Germany, Netherlands and China. Four U.S. states along the East Coast plan to add about eight gigawatts of offshore wind by 2030, a build out that may eventually encourage makers of the massive offshore turbines and blades, most of which are manufactured in Europe, to open plants in the U.S.
Developers representing 82 percent of the new-build market commissioned 46.9 gigawatts of onshore wind in 2017, 12 percent less than in 2016.
©2018 Bloomberg L.P.