Wind turbine manufacturers installed 127 GW of new capacity in 2024, according to the Global Wind Energy Council’s (GWEC) annual Supply Side Data report. A total of 23,098 wind turbines were installed globally in 2024 by 29 manufacturers. Of these, 18 were based in Asia-Pacific, 8 in Europe, 2 in the Americas, and 1 in the Middle East.
Chinese manufacturers increased their global market share further, supported by strong domestic growth. For the first time, the top four global turbine suppliers were all Chinese, with Denmark's Vestas completing the top five. In Europe, European suppliers maintained a dominant position with a 92% regional market share, an increase of four percentage points from 2023.
Goldwind remained the world’s leading turbine supplier, installing more than 20 GW in 2024 – a new record. Envision secured second place again, despite a decline in new capacity installed in China. Envision deployed 3.5 GW outside China across eight markets, the highest ever figure for a Chinese manufacturer.
Mingyang rose two places to take third, achieving its highest ever installation total. Windey also had a record year, securing fourth. Vestas fell two places to fifth, with a 13% drop in new installations. However, it remained the most internationally active supplier, followed by Nordex Group, Enercon, and Siemens Gamesa.
The average rated capacity of newly installed wind turbines globally reached nearly 5,500 kW, up 9% (435 kW) compared to 2023. Average onshore turbine size exceeded 5,000 kW for the first time, while the average offshore turbine reached 9,815 kW. The increase is driven by larger onshore units in China and wider use of offshore turbines above 10 MW.
Medium-speed (hybrid-drive) turbines gained ground in 2024, with their global market share rising from 25.0% in 2023 to 29.1%. This shift was mainly driven by Goldwind's transition from permanent magnet direct drive to medium-speed, which accounted for 89% of its 2024 installations.
The combined market share of geared-drive systems (medium and high-speed) remained steady at 91.3%.
Rotor diameters also continued to increase, with turbines featuring rotors larger than 180 metres now representing 58.6% of global installations, up from 42.9% in 2023.
While some manufacturers returned to positive EBIT margins for wind turbine production for the first time since 2021, more than half of the western companies and several Chinese suppliers continued to experience a year-on-year decline in net profit.
