Chinese Demand Spurs Global Wind Turbine Ordering

Monday, September 16, 2024

Global onshore wind turbine orders hit 91.2 gigawatts (GWs) in the first half of the year, a 23% year-on-year rise, due to higher demand in the second quarter from China's northern region, Wood Mackenzie said in a report on Monday.

China's wind turbine production capacity is by far the biggest globally compared to Europe and the United States. Western original equipment manufacturers (OEM) are struggling to keep pace, challenged by China's competitive advantages in pricing and availability.

Global order intake for wind turbines exceeded 66 GW in the second quarter of the year, owing to Chinese demand, per the Wood Mackenzie report.

Earlier this year, top wind power companies in the West such as Siemens Energy highlighted an industry struggling with project delays, equipment problems and inflation.

Western OEMs struggled due to intense competition over modest demand and contributed just 13% of global order intake in the first half of the year, the report said.

Orders outside of China fell by 16%, dropping 42% year-over-year in the U.S. and Europe.

Global onshore order activity has picked up in H1 but the offshore sector has struggled with order intake, decreasing almost 38% compared to the same period a year ago.

"Chinese OEMs continue to break records for order intake on activity both domestically and aboard," said Luke Lewandowski, vice president, global renewables research at Wood Mackenzie.

Meanwhile, the offshore market faced "challenging economics (which) continue to delay conversion into firm orders," he added.


(Reuters - Reporting by Pooja Menon; Editing by Janane Venkatraman)

Categories: Industry News Asia Renewables China Offshore Wind Wind Turbines

Related Stories

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production Closes $1B Investment to Drive Further Growth

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

CNOOC Starts Production at Offshore Field in South China Sea

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Current News

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com