China's wind giants dominate western rivals as '$74bn turbine orders smash records'

[beijingwalker]

China's wind giants dominate western rivals as '$74bn turbine orders smash records'​

Envision, Mingyang, and Goldwind each pull in 17GW-plus as foreign peers see slowdown, says Wood Mackenzie

8 March 2023 15:30 GMT
By Andrew Lee

China’s wind turbine giants dominated last year as western rivals suffered, according to latest figures from analysts at Wood Mackenzie.

Envision, Mingyang, and Goldwind each pulled in deals totalling more than 17GW in 2022 as total orders hit a record 134.6GW – up 30% year-on-year and representing an annual investment of $74.2bn – including 44GW in the fourth quarter, also a new high, the energy research group said.

The Chinese market accounted for 70% of 2022 order capacity as developers race to comply with directives under the nation’s 14th 5-year plan.

Offshore wind also had a record year with a 19GW global order intake – 80% of that from China.

But Wood Mackenzie said the Chinese boom was in contrast to a 15% year-on-year drop off in orders outside China, which at 41GW was about 9GW off the average seen since 2018.

“We’ve seen incredible activity in China, but its soaring numbers have somewhat masked a slowdown from western OEMs, which have been impacted by supply chain challenges and cost increases.

“This has negatively impacted both new order intake and installation activity outside of China,” said Luke Lewandowski, Wood Mackenzie research director.

North American orders were “relatively flat” last year but the US Inflation Reduction Act is already stoking orders in 2023, he added.

China's wind giants dominate western rivals as '$74bn turbine orders smash records'

Envision, Mingyang, and Goldwind each pull in 17GW-plus as foreign peers see slowdown, says Wood Mackenzie

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[beijingwalker]

China 'dominates global turbine orders in 2022'​

Country accounted for 70% of 134.6GW of contracts, according to new Wood Mackenzie analysis

8 March 2023

Global wind turbine order intake hit new highs in 2022, dominated by activity in China, according to new Wood Mackenzie analysis.

Overall, 44GW was procured in Q4 and 134.6GW for the year, both records and annual investment reached an estimated $74.2 billion, according to new analysis from Wood Mackenzie.

Order intake increased 90% year-over-year (YoY) in Q4 and 30% year-over-year for the fiscal year, with China accounting for 65% of order capacity in Q4 and 70% of all order capacity in 2022, the analysis found.

This activity was driven by developers positioning to comply with China’s 14th 5-year plan, which highlights green energy development in the Asian nation.

While China made an outsized impact on global order capacity, order intake outside of China dropped 15% YoY to 41 GW, approximately 9GW off the four-year average for full-year order capacity from 2018 to 2021, according to the analysis.

Luke Lewandowski, Wood Mackenzie research director, said: "We’ve seen incredible activity in China, but its soaring numbers have somewhat masked a slowdown from western OEMs, which have been impacted by supply chain challenges and cost increases.

"This has negatively impacted both new order intake and installation activity outside of China."

North America order intake was relatively flat YoY, up 7%, but the future pipeline looks strong.

"We are already seeing the positive reaction to the Inflation Reduction Act, with H2 orders up 224% over H1 in the US," added Lewandowski.

Offshore wind hit new records as well in 2022, reaching 19GW of order intake, with 80% of the activity was from China.

Chinese OEMs Envision, Mingyang, and Goldwind led the rankings for order intakes in 2022, with more than 17 GW each.

China 'dominates global turbine orders in 2022'

Country accounted for 70% of 134.6GW of contracts, according to new Wood Mackenzie analysis

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[beijingwalker]

 

[Song Hong]

The West using radical environmentalism to de-industrialize China is now bankrupt.

Environmentalism is actually a evil plan by west to prevent industrialization of 3rd world. If someone want to industrialized they got to burn coal. Stopping market access for coal burner will lock the country to perpetual poverty.