Envision captures the largest share of new wind turbine orders – EQ Mag

Global wind turbine order intake rose 27 percent to 23.5 gigawatts (GW) during the first quarter of 2023, according to analysis from Wood Mackenzie.

The surge in the global wind turbine order intake was driven by a new Q1 record set in China (15.2 GW), record Q1 growth in Latin America (1.7 GW) and the U.S. jumping to 1.8 GW of activity, more than doubling its 0.8 GW in Q1 2022 and surpassing its H1 2022 total.

Global orders in the global wind turbine market hit an estimated $15.2 billion in Q1 2023, up $3 billion YOY.

“China continues to be the overwhelming driver of global activity,” Luke Lewandowski, Wood Mackenzie Research Director, said.

“We do not see that slowing down anytime soon. What is encouraging is seeing certain areas outside of China start to build momentum. Latin America had a record Q1, thanks to activity in Argentina and Brazil, and the U.S. is seeing renewed confidence and order growth, partially in thanks to the Inflation Reduction Act.”

While some areas outside of China experienced growth, overall activity from western original equipment manufacturers (OEM) remained flat, with Q1 orders down 9 percent year-over-year. Strategies between these two markets remain fundamentally different, with China pushing growth strategies to meet local government renewable requirements and western OEMs focusing on profitability.

Western OEMs have remained very selective and disciplined in their activity, with the goal of improving their profitability.

Offshore wind orders decreased 12 percent YOY, but growth took place in Europe, which accounted for 3 GW of offshore activity. Overall, offshore wind accounted for 13 percent of all orders in Q1.

For the second straight quarter, Envision captured the largest share of new orders (3.6 GW), followed by Vestas (3.3 GW) and SANY (2.6 GW).

Source: PTI