China Wind Turbine Orders to Hit Record 100 GW in 2023

Goldwind retook the position as the top wind energy company for orders in 2023.
Chinese wind turbine orders hit a new record in 2023, reaching around 100 GW, according to research by Wood Mackenzie.

Analyst’s 2023 China Wind Turbine Order Ranking Analysis Report found that this is the second year in which more than 90 GW of annual orders have been secured

WoodMac noted that despite a strong order book, it has yet to translate into installations. By the end of 2023, only half of the wind turbine orders for 2022 had been executed.

Goldwind was the top-tier Chinese wind turbine OEM, taking 17.7% of the order intake share. This marked the company’s return to the top spot after two years, largely due to sustained strong performance throughout the year.

Envision came in second with 17.4% and was also the leader in overseas wind turbine orders, with 4.1GW.

Mingyang ranked third with 16.1% and maintained its position as the leading supplier of offshore wind turbines.

Windey, SANY, CRRC, DEC, CSSC Haizhuang, SEWind and United Power completed the top ten.

Despite strong order inflows, WoodMac noted that wind turbine prices hit a new low in China, depressing OEMs’ financial performance. This was due, in part, to intense competition that drove down wind turbine prices throughout 2023.

This led to wind turbine OEMs experiencing significant profit reductions as low-priced wind turbines began to be delivered in the third quarter of 2023.