Vestas boosts global onshore wind market share to 22% in 2018 - BNEF

Denmark’s Vestas Wind Systems A/S (CPH:VWS) has increased its global onshore wind market share to 22% in 2018 from 16% in 2017 by commissioning 10.1 GW of turbines last year.

Statistics by BloombergNEF (BNEF) show that Vestas topped the 2018 ranking for onshore wind turbine commissioning and it was followed by China’s Xinjiang Goldwind Science & Tech Co Ltd (HKG:2208) with 6.7 GW, General Electric Co (NYSE:GE) with 5 GW and Siemens Gamesa Renewable Energy SA (BME:SGRE) with 4.1 GW. These four companies accounted for more than half, or 57%, of the machines deployed over the 12-month period.

Overall, developers around the world commissioned about 45.4 GW of onshore wind turbines in 2018 for a 3% year-on-year decrease. This includes 11.7 GW in the Americas, 8.5 GW in Europe and 1 GW in Africa and the Middle East, with 24.2 GW in Asia.

David Hostert, head of wind research at BNEF, called it “a bit of a mixed picture”. There were also 4.3 GW of offshore wind turbines commissioned in 2018, including 1.7 GW in China. This puts the overall wind figure slightly lower than that of 2017.

“Now it is time for the manufacturers to buckle up for two stormy years ahead: we predict demand for around 60 GW of onshore capacity in both 2019 and 2020 with increases in all regions. However, a lot of this impressive-sounding volume rides on extremely competitive pricing, add-on products and services, and new financing models,” he added.

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