Chinese turbine orders reached a new record in 2023, hitting around 100GW, research from Wood Mackenzie has found.
The analyst’s China wind turbine order ranking analysis 2023 report found that this is the second year that more than 90 GW of annual order intake was secured
However, WoodMac noted that despite a strong order pipeline, it has not yet translated to installations. Only half of 2022 turbine orders have been executed by the end of 2023.
Goldwind was the top-ranking Chinese turbine OEM securing 17.7% of the share of the order intake. This marked the company’s return to the top spot after two years, largely due to a sustained solid performance across the year.
Envision was second on 17.4% and was also the leader in overseas wind turbine order intake, securing 4.1GW.
Mingyang ranked third on 16.1% and held its position as the top offshore wind turbine supplier.
Windey, SANY, CRRC, DEC, CSSC Haizhuang, SEWind and United Power filled out the top ten.
Despite the strong order intake, WoodMac noted that turbine pricing hit a new low in China, driving down the OEMs’ financial performance. This was due, in part, to intense competition bringing down turbine prices throughout 2023.
This led to turbine OEMs experiencing significant profit reductions as low-price turbines began deliveries in the third quarter of 2023.