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Windtech International July August 2024 issue

 

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Global wind turbine order intake hit a new Q1 record, with 23.5 gigawatts (GW) of activity, a 27 percent increase year-over-year, according to a new analysis from Wood Mackenzie.
 
Activity was driven by a new Q1 record set in China (15.2 GW), record Q1 growth in Latin America (1.7 GW), thanks to activity in Argentina and Brazil, and the U.S. jumping to 1.8 GW of activity, more than doubling its 0.8 GW in Q1 2022 and surpassing its H1 2022 total, partially in thanks to the Inflation Reduction Act.

In total, global orders hit an estimated $15.2 billion, up $3B YOY.
 
While some areas outside of China experienced growth, overall activity from western original equipment manufacturers (OEM) remained flat, with Q1 orders down 9 percent year-over-year. Strategies between these two markets remain fundamentally different, with China pushing growth strategies to meet local government renewable requirements and western OEMs focusing on profitability.
 
Offshore wind orders saw a decrease of 12 percent YOY, but growth took place in Europe, which accounted for 3 GW of offshore activity. Overall, offshore wind accounted for 13 percent of all orders in Q1.

For the second straight quarter, Envision captured the largest share of new orders (3.6 GW), followed by Vestas (3.3 GW) and SANY (2.6 GW).
 
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