Vestas provides a variety of products and services through a distributed service model. Its focus revolves primarily on the production of wind turbines. In fact, the company is one of the largest wind turbine manufacturers in the world. On the global market, the Danish company has turbines installed in over 70 countries and recently held a global wind energy market share of about 20 percent. Apart from turbine manufacturing, Vestas is also involved in selling, installing, and maintaining operational wind power plants.
Wind power plants have the potential to contribute more energy to global capacities within the coming decades. Wind power remains relatively consistent over a long period of time but their generating power may vary over shorter periods. Vestas continues to invest heavily in research and development to further increase the efficiency of the company’s wind turbine technologies. In 2019, Vestas’ research and development expenditures amounted to around 268 million euros.