GWEC’s latest report highlights a surge in global wind power capacity despite economic headwinds, with Chinese OEMs dominating and turbine technology reaching new milestones.
The global wind energy sector marked a significant milestone in 2024 by installing 127 gigawatts (GW) of new wind power capacity, according to the latest Supply Side Data 2024 report by the Global Wind Energy Council (GWEC). Despite facing macroeconomic headwinds, supply chain challenges, and rising capital and material costs, 29 wind turbine manufacturers successfully deployed over 23,000 units worldwide.
This achievement signals continued growth in the renewable energy sector, with GWEC forecasting even higher annual installation figures in the coming years. However, the Council emphasized the need for governments and industry players to collaborate in removing structural barriers and improving market frameworks to unlock the next terawatt of wind power capacity.
Chinese OEMs Dominate Global Rankings
For the first time, the top four global wind turbine suppliers were all Chinese firms, with Goldwind retaining the number one spot by installing over 20 GW globally—a record in itself. Envision secured second place, while Mingyang and Windey followed, marking their strongest performance to date. Denmark’s Vestas rounded out the top five, despite a 13% decline in new installations from 2023.
Chinese manufacturers continued to dominate the global wind market, thanks to robust growth in their domestic sector. Ten of the top 15 wind turbine suppliers in 2024 were Chinese, although 94% of their installations occurred within China. Notably, only Goldwind and Envision managed to expand significantly overseas, accounting for 98% of the 5.46 GW installed outside of China by Chinese OEMs.
Technological Advancements and Market Trends
The report highlights a steady rise in wind turbine sizes and power ratings. The global average rated capacity for newly installed turbines reached nearly 5,500 kW, reflecting a 9% increase from 2023. Offshore turbines averaged 9,815 kW, while the average onshore turbine size surpassed the 5,000-kW mark.
Rotor diameters also saw significant growth. Turbines with rotor sizes exceeding 180 meters now account for 58.6% of the market, up from 42.9% in 2023. In terms of drivetrain technology, medium-speed (hybrid-drive) turbines gained ground, capturing 29.1% of the global market—driven primarily by Goldwind’s strategic shift from direct drive systems.
Regional Highlights
Asia-Pacific continued to lead in installations, driven by China’s aggressive renewable expansion. Europe maintained its dominance within its borders, with European suppliers capturing a 92% market share—4% higher than the previous year. In contrast, Chinese OEMs installed just 242.4 MW in Europe, with only 11.7 MW located within the EU-27.
Vestas emerged as the only Western manufacturer to report installations in China, delivering 52 MW in the world’s largest wind market. Meanwhile, Envision achieved a record 3.5 GW of new capacity across eight international markets, the highest ever for a Chinese OEM.
Industry Leaders Call for Policy Reforms
GWEC CEO Ben Backwell emphasized the importance of policy support to accelerate the energy transition. “This record-breaking year proves the critical role of wind energy in tackling fossil fuel-driven price volatility and climate change,” he stated. “Governments must cut bureaucracy, invest in grid infrastructure, and reform energy markets to favor clean energy deployment.”
Echoing this sentiment, Feng Zhao, Chief Research Officer at GWEC, praised the industry’s resilience. “Our findings show that wind energy is on a strong upward trajectory. But to meet climate goals and energy security needs, we must scale faster—reaching 380 GW of annual installations by 2030.”
As the global push toward net-zero intensifies, the wind sector stands poised to play a defining role in shaping a cleaner, more secure energy future.