Global wind turbine order intake hits record 91.2 GW in H1

Wind turbine orders across the globe reached an all time high of 91.2 GW in the first half of 2024, underpinned by rising total investment of USD 42 billion (EUR 37.76bn) by project developers, according to the latest statistics by Wood Mackenzie.

The global wind turbine order intake in January-June improved by 23% in annual terms and is 11 GW higher than the total in the second half of 2023. China’s Envision Energy was the top player, followed by Windey and Goldwind, all with more than 12 GW of activity.

The Asia–Pacific (APAC) region accounted for 85% of global intake, with China being the major growth driver with 70 GW of orders for the domestic market and 5 GW of orders abroad.

On the other hand, Western markets faced increased competition and weakening demand amid “China’s competitive advantages in pricing and availability” and grabbed only 13% of the global order intake. The Americas and Europe were responsible for less than 10 GW of the overall orders, registering a 42% year-on-year drop in their combined intake in the six months.

“Soft demand in Western markets as well as policy uncertainty, inflation, and other cost pressures have also driven down activity in the US and Europe. China remains the undisputed leader in the industry,” said Luke Lewandowski, vice president, global renewables research at Wood Mackenzie.

Global intake for onshore wind improved in the first half, while offshore wind orders contracted by 4.1 GW, or 38% year-over-year.

“The offshore market has almost 30 GW of conditional orders globally, 21 GW of which are for projects in Europe and the US, but challenging economics continue to delay conversion into firm orders,” said Lewandowski.

(USD 1.0 = EUR 0.899)

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