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MAKE Crowns Siemens Leading Wind Turbine OEM

MAKE Consulting has crowned Siemens the world’s leading global wind turbine original equipment manufacturer, ahead of GE and Vestas, in the company’s Global Wind Turbine OEM 2014 Market Share analysis report.

The report showed that multi-industrial turbine original equipment manufacturers (OEMs) accounted for 37% of the global wind turbine market in 2014, an increase of 12% over 2013, whereas all pure play (single focus) turbine OEMs in the top 15 lost market share, except for Chinese turbine OEMs Mingyang and Envison.

MAKE analysts believe that this shift could be the beginning of “a long-expected change in the composition of turbine OEM leadership.” However, as the authors note, “the 2014 rankings were as tight as ever and certainly impacted by secondary market dynamics.” In fact, the spread across the top 3 turbine OEMs decreased from 3.9% in 2013, to only 0.7% in 2014, which equates to roughly 400 MW, and includes two multi-industrials and one pure play OEM.

While 2014 may have seen multi-industrials take the lead, pure play wind turbine OEMs are still doing well. Danish wind energy giant Vestas reported strong financial earnings for 2014, with an increase in revenue of 13.5%, growing to €6.9 billion. Vestas took in orders worth 6,544 MW in 2014, up from 5,964 MW in 2013, and expects 2015 revenue to grow again.

Spain’s Gamesa similarly saw an improved 2014, successful enough that the company was able to resume dividend payments. The company saw yearly profit nearly double, and sales grow by 34%.

Nevertheless, MAKE’s results cannot be dismissed, and Siemens and GE have made the most of 2014. Siemens was first or second in 80% of the markets it is currently engaged in, with an increase in annual share of over 3%. GE consolidated its lead in the Americas, the leading OEM in the US, Canada, Brazil, and Mexico. Subsequently, the company jumped from fifth to second place in 2014’s rankings.

Vestas, therefore, fell to third place in 2014, primarily because a large volume of turbines delivered to the US market were not grid connected in 2014. Nevertheless, Vestas maintains its lead in global cumulative grid-connected capacity.

The top 10 are as follows:

  1. Siemens
  2. GE
  3. Vestas
  4. Goldwind
  5. Enercon
  6. United Power
  7. Gamesa
  8. Mingyang
  9. Envision
  10. XEMC
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