London and New York, March 17, 2025 – Wind turbine installations hit a record for a second year in 2024, driven by rapid growth in mainland China, according to a new report by research provider BloombergNEF (BNEF).
Globally, developers brought online 121.6 gigawatts (GW) of wind turbines worldwide last year, double the capacity commissioned in 2019, according to BNEF’s 2024 Global Wind Turbine Market Shares. Some 109.9GW, or 90%, of global wind additions, were on land while 11.7GW was offshore.
Mainland China accounted for six of the top 10 turbine makers worldwide. The top four spots were filled by companies from mainland China alone for the first time since BNEF started publishing its ranking in 2013. It was the first time that European and US manufacturers fell out of the top three.
Goldwind continued to lead the ranking as the world’s biggest wind turbine supplier, with 19.3GW of new wind capacity added in 2024. Envision retained second place with 14.5GW. Windey was third with 12.5GW, and Mingyang ranked fourth, adding 12.2GW. The Danish manufacturer Vestas was the last of the five suppliers that hit the 10GW mark in 2024.
Chinese manufacturers remained heavily reliant on their home market, which accounted for 70% of global installations, whereas European and US suppliers had a more regionally diverse set of customers.
“Chinese turbine makers increasingly dominate the global wind energy business,” said Cristian Dinca, wind associate at BloombergNEF and lead author of the report. “Installations are soaring in mainland China as provinces race to meet renewable energy targets by the end of 2025. While mainland China’s manufacturers look to expand sales abroad, they remain heavily reliant on their home market, which delivered almost all of their capacity additions in 2024.”
Top 10 global wind turbine makers in 2024
Source: BloombergNEF. Note: Total commissioned capacity in 2024 was 121.6 gigawatts.
By contrast, wind installations fell by 10% from 2023 levels outside of mainland China. The US market shrank for a fourth year in a row, installing 5.4GW in 2024, which was the lowest amount seen in a decade. US project developers were hampered by slow execution, reflecting a near-doubling in turbine delivery lead times, shortages of transformers and other electrical equipment, and high interest rates. While the wind sector is seeing stronger political headwinds under the second presidency of Donald Trump, the market still has a large project pipeline.
“The offshore wind projects are more vulnerable to changes in US government policy under President Donald Trump than projects on land,” said Oliver Metcalfe, head of wind research at BloombergNEF. “The onshore wind industry has more bipartisan support and is an economically attractive option in many places where power demand is increasing.”
In offshore wind, Siemens Gamesa reclaimed its title as the top turbine supplier, surpassing Vestas and its Chinese peers for the first time since 2020. The Europe-based manufacturer provided machines for almost three-quarters of offshore wind farms outside of mainland China last year. With 4GW of additions, the company more than doubled its capacity compared with 2023.
Offshore wind capacity rose to 11.7GW worldwide in 2024, up 6% compared with the year before. Mainland China accounted for more than half of global offshore wind additions, with 6.1GW, making it by far the largest market in 2024. This is despite the pace of those additions falling by 1.6GW from 2023 levels, reflecting project delays. BNEF tracked seven companies in mainland China with significant offshore wind additions, with no single dominant player.
Contact
Oktavia Catsaros
BloombergNEF
+1 212 617 9209
ocatsaros@bloomberg.net