Vestas is reducing its production in Germany and Denmark. Credit: DennisM2

Danish wind energy company Vestas is the leading onshore wind turbine company in the world in terms of installed capacity, according to research group Bloomberg NEF (BNEF).

In 2018, 45GW of onshore wind turbines was installed worldwide, representing a 3% decline on the 47GW installed in 2017. Of this, Vestas installed 10.1GW, or 22% of the market share.

BNEF found that four manufacturers accounted for 57% of wind turbines deployed in the world; Vestas, China’s Goldwind, US-based GE Renewable Energy and Spanish company Siemens Gamesa.

Goldwind went from third to second place, installing 6.7GW. Most of this was installed in China, with only 5% installed in the rest of the world. GE Renewable Energy was third with 5GW installed, of which 60% was in the US. Siemens Gamesa went from second to fourth place, with 4.1GW commissioned in 2018.

Vestas said: “Together with our 2018 results, this proves our strategy is working […] we continue to lead the industry on key parameters such as sales, profitability and technology.”

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BNEF head of wind research David Hostert said: “Last year was a bit of mixed picture in terms of global onshore wind installations, with only 45.5GW installed. Still, add to that 4.3GW offshore wind and 2018 ended slightly lower than 2017. Now it is the time for manufacturers to buckle up for two stormy years ahead: we predict demand for around 60GW 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. This will be tough to deliver for the big four, let alone the smaller turbine makers.”