Global wind turbine manufacturers' market share 2022

In 2022, Chinese wind turbine manufacturer Goldwind had a global market share of around 20.8 percent. This was follwed by Goldwind at 17.5 percent that year. 

Wind energy worldwide

Wind power is generated when kinetic energy from wind is converted into mechanical power or electricity. There are two basic wind turbine groups, one with a horizontal axis and one with a vertical axis. Horizontal turbines have two or three blades and operate with their blades facing the wind. Single small turbines can be used for homes, telecommunications dishes, or water pumping. They can also be connected to batteries, solar photovoltaic systems, and diesel generators which are typically used in regions without utility-grid connections.

Global wind turbine manufacturers 

In 2022, Vestas accounted for 11.2 percent of the world’s market share for wind turbines, while Siemens Gamesa had a market share of 7.7 percent. Vestas generated a revenue of 15.4 billion euros in 2023, an increase of almost one billion euros from the previous year. The Danish company has turbines installed in over 70 countries and recently merged its offshore business with Mitsubishi Heavy Industries to form MHI-Vestas. Large offshore wind installations have become increasingly popular around the world.

Recently, China’s new wind installations exceeded those of many other countries combined, reaching an additional capacity of over 76 gigawatts. Chinese turbine manufacturer Goldwind had a global market share of 21.8 percent in 2022.