Leading wind turbine manufacturers – additional information
A Chinese wind firm, Xinjiang Goldwind Science & Technology, was ranked third in the global wind turbine manufacturers ranking in 2017, with a 5.4 gigawatt capacity commissioned. The company dominated China’s domestic market, installing more than 2.5 times the capacity as that of the second largest Chinese manufacturer on the table, Guodian.
In the 2016 financial year, Goldwind generated about 3.8 billion U.S. dollars in revenue. The company was one of the largest wind turbine manufacturers in the world, in terms of revenue. Denmark’s Vestas generated almost 10.8 billion U.S. dollars in revenue that year, followed by Siemens Wind Power and GE Renewable Energy.
The 2015 year marked the emergence of five Chinese manufacturers in the global market, as Goldwind, Guodian, Ming Yang, Envision and CSIC made ranking among the leading ten wind turbine suppliers worldwide. This was in part due to a surging wind power market at home, which had a record of more than 169 gigawatts of cumulative installed capacity in the same year, surpassing all other countries. Although China’s wind power market has grown significantly, its annual average growth rate is expected to slow down in the coming years.