In recent decades, many countries have taken initiatives to significantly increase their share of electricity from renewable sources.
Various policies have been formulated in different regions, particularly in the European Union, America and East Asia. The global dependence on fossil fuels such as coal and oil, in addition to nuclear energy, for electricity generation has led to undesirable consequences such as global warming, oil spills and severe environmental damage. It has also resulted in fluctuations and increases in the price of electricity and jeopardized the reliability of electricity generation due to fuel supply risks.
Renewable sources, such as wind, have become a viable and economical alternative for electricity generation, thanks to falling prices and easy access to technology.
The key factors driving the growth of the global wind turbine market include renewable energy auctions, rising environmental concerns, increasing global demand for electricity, favorable government policies, feed-in tariffs (FiTs) and other financial incentives, higher efficiency turbines, and declining operational and maintenance costs.
Challenges such as regulatory uncertainty and geopolitical conflicts, technological challenges and underdeveloped network infrastructure, shortage of skilled labor and resistance from local communities continue to hamper market growth.
According to Global dataThe global wind turbine market was estimated at $90.43 billion in 2021, with the top five wind turbine manufacturers accounting for 56.3% of the market. Vestas Wind Systems A/S was the leader with a market share of 17.7%. Xinjiang Goldwind Science & Technology Co Ltd and Siemens Gamesa Renewable Energy SA followed with estimated market shares of 11.8% and 9.7% respectively, while Envision Energy Ltd, GE Renewable Energy, China Ming Yang Wind Power Group Ltd and Nordex SE had shares between 6% and 9%.
Other major suppliers of wind turbines include Shanghai Electric Wind Power Equipment Co., Ltd., Dongfang Electric Corporation Ltd, Zhejiang Windey Wind Generating Engineering Co., Ltd., China Shipbuilding Group Haizhuang Wind Power Co Ltd, CSR Zhuzhou Institute Co Ltd, Enercon GmbH and Guodian United Power Technology Co Ltd.
Find the best wind turbine manufacturers
Energy technology has listed the leading wind turbine manufacturers based on both its experience in the sector and research conducted by Global data.
The information in the download document is intended for production managers, purchasing managers, maintenance managers, quality control managers, marketing managers, research and development managers, supply chain managers and the many other positions responsible for purchasing wind turbines.
The free Buyers Guide is available for download and contains detailed information about the suppliers and their product lines, as well as contact information to help you with your purchasing decision.
For full details (including contact details) of the leading companies in this sector, download the free buyer’s guide below:
“Wind Turbine Manufacturers for the Power Industry” was originally created and published by Energy technologya brand of GlobalData.
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