Vestas is one of the strongest vertically integrated wind turbine manufacturers. The increased competition from emerging players from China and other countries started contributing in the global turbine market share and the market share of Vestas has decreased considerably in the past few years.
The rapid development in the Asian economies such as China and India has attracted major players in the wind turbine manufacturing industry. The companies in the industry have started to invest in these countries for the development of wind energy.
China is one of the leading and fastest growing wind turbine markets in the world. The annual installed capacity of wind turbines in China was 13,800 MW in 2009. The development in the Chinese wind power market has not only helped the domestic players but it has also helped the international players to expand into a new territory. Chinese players such as Sinovel, Dongfang and Goldwind face stiff competition from the other players such as GE Energy, Vestas and Suzlon, who have started operations in China.
The Indian wind power market is also expected to grow at a fast pace. The country has planned to increase the share of renewable energy in the energy mix. The development of wind energy in the country has encouraged companies such as Vestas and Enercon to become part of the Indian wind turbine market.