Major wind turbine manufacturers are rushing into large new developing markets across Asia, particularly China and India, in a bid to ramp up their rival shares of the global wind turbine industry, according to a new market report.
The industry analysis, entitled “Top 10 Wind Turbine Manufacturing Companies – Growth Strategies, Competitive Benchmarking, SWOT, Comparative, and Financial Analysis“, provides a detailed assessment of the consolidated sector and highlights how developing Asian economies have become a critical new market for the major players.
The global wind turbine market is a consolidated market in which the top ten companies account for approximately 80 percent of the total market. The European wind turbine manufacturer Vestas, from Denmark, dominated the global market in 2009, with a 12.8 percent market share on the basis of installed capacity. It has an installed capacity of 4,921.3 megawatts (MW).
GE Energy ranked at number two with a 12 percent market share and 4,606.6 MW of installed capacity.
Vestas is one of the strongest vertically integrated wind turbine manufacturers, however, the report shows how increased competition from emerging players from China and other countries has caused Vestas’ market share to fall significantly in recent years.
Large wind turbine manufacturers have started hiking their investments in key Asian countries which are developing wind energy as an alternate and cleaner, greener power source. China is one of the leading and fastest growing wind turbine markets in the world. The annual installed capacity of wind turbines in China hit 13,800 MW in 2009.
The research provides an in-depth analysis on global wind turbine manufacturing companies, the industry’s market size and the fast evolving competitive landscape among other analysis.
Author: Justin Cole, analyst.