The world's largest wind turbine manufacturers - sales 2018

Based on sales figures, two of the largest wind turbine manufacturers in the world are Vestas and Goldwind. The Danish company accounts for over 23 percent of the global wind turbine market share. As wind energy becomes more common, increased competition has led to manufacturers experiencing a decline in profits despite a higher number of turbine orders. Onshore and offshore wind prices have decreased dramatically due to several factors like technology innovation and scale, low financing costs, and strong industry competition.

Largest wind manufacturers

Vestas Wind Systems (Vestas), headquartered in Aarhus, Denmark, is one of the largest wind companies in the world. The company generated a revenue of about 10 billion euros in the 2018 financial year. Vestas has production facilities located in over 10 countries, including China, Spain, and the United States. For wind companies to stay ahead of the fierce competition within the industry, manufacturers must further refine their operations in order to reduce costs and contributing to consolidation in the wind industry. Vestas spent 229 million euros on research and development in 2018.

Wind turbine manufacturers' market share in 2018, based on sales

Market share
Vestas
(Denmark)
20.3%
Goldwind
(China)
13.8%
Siemens Gamesa
(Spain)
12.3%
GE Renewable Energy
(U.S.)
10%
Envision
(China)
8.4%
Enercon
(Germany)
5.5%
Mingyang
(China)
5.2%
Nordex Acciona
(Germany)
5%
Guodian United Power
(China)
2.5%
Sewind
(China)
2.3%
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Sources

Release date

June 2019

Region

Worldwide

Survey time period

2017

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