Mar 10 | 2020
(Global) Order Capacity Nears 100 Gigawatts
Global wind turbine order capacity reached record levels last year, with rapid momentum in the fourth quarter, according to analysis by research consultancy Wood Mackenzie.
The firm reports that order capacity reached almost 100 gigawatts in 2019, equivalent to an estimated US$78 billion. Of this amount, around US$25 billion was attributable to the final quarter of the year, as demand growth was reported to build.
“Global wind turbine order intake increased by 8.4 gigawats in the fourth quarter 2019 and 39 gigawatts for the full year,” the firm notes in a statement.
China Leads Growth
China was identified as one of the leading drivers for growth with onshore and offshore projects in the country, boosting breakbulk demand. An "astounding 50 gigawatts" of wind turbine capacity was ordered in 2019, according to Wood Mackenzie, with wind turbine order intake exceeding 12 gigawatts in China for three consecutive quarters.
"Demand in China was primarily driven by the expiration of the feed-in-tariff (FIT) but was also enabled by new transmission capacity and the easing of red warnings in Northern provinces," said Luke Lewandowski, Wood Mackenzie research director.
Globally China accounted for 76 percent of total offshore order intake.
Vestas Dominates
Across the year, Wood Mackenzie estimates that Danish wind turbine manufacturer Vestas won the most wind turbine order capacity, averaging 4.5 gigawatts per quarter or nearly 18 gigawatts for the year.
"Chinese OEMs claimed six spots in the full year top 10 ranking for order intake, led by SEwind which recorded 4.9 gigawatts of offshore orders. This was the first time a non-Western OEM won the top spot for the sector," Lewandowski added.
Headquartered in Edinburgh, Scotland, Wood Mackenzie is a subsidiary of Verisk Analytics, a global data analytics and risk assessment group.
The firm reports that order capacity reached almost 100 gigawatts in 2019, equivalent to an estimated US$78 billion. Of this amount, around US$25 billion was attributable to the final quarter of the year, as demand growth was reported to build.
“Global wind turbine order intake increased by 8.4 gigawats in the fourth quarter 2019 and 39 gigawatts for the full year,” the firm notes in a statement.
China Leads Growth
China was identified as one of the leading drivers for growth with onshore and offshore projects in the country, boosting breakbulk demand. An "astounding 50 gigawatts" of wind turbine capacity was ordered in 2019, according to Wood Mackenzie, with wind turbine order intake exceeding 12 gigawatts in China for three consecutive quarters.
"Demand in China was primarily driven by the expiration of the feed-in-tariff (FIT) but was also enabled by new transmission capacity and the easing of red warnings in Northern provinces," said Luke Lewandowski, Wood Mackenzie research director.
Globally China accounted for 76 percent of total offshore order intake.
Vestas Dominates
Across the year, Wood Mackenzie estimates that Danish wind turbine manufacturer Vestas won the most wind turbine order capacity, averaging 4.5 gigawatts per quarter or nearly 18 gigawatts for the year.
"Chinese OEMs claimed six spots in the full year top 10 ranking for order intake, led by SEwind which recorded 4.9 gigawatts of offshore orders. This was the first time a non-Western OEM won the top spot for the sector," Lewandowski added.
Headquartered in Edinburgh, Scotland, Wood Mackenzie is a subsidiary of Verisk Analytics, a global data analytics and risk assessment group.
