Against the backdrop of ongoing global energy transformation, Chinese wind power companies are accelerating their expansion of international market share, leveraging cost advantages, supply capabilities, and experience with overseas projects.
According to a report by Nikkei Asia on July 19th, data from the Global Wind Energy Council (GWEC) shows that by 2025, Chinese companies will account for 79% of the world's newly installed wind turbines. This represents a 6 percentage point increase compared to the previous year, with the total installed capacity reaching approximately 140 gigawatts. This further solidifies China's leading position in the global wind power manufacturing industry.
Reports say that Chinese wind power companies have seen a rapid increase in their market share, mainly due to strong domestic market demand and expansion into overseas markets such as Southeast Asia, the Middle East, and Africa.
The world's largest wind turbine manufacturer, Jinwind Technology, will experience significant growth in its overseas business by 2025. According to the company's annual report, revenue will reach 73.023 billion yuan in 2025, a year-on-year increase of 28.79%; net profit will be 2.774 billion yuan, a year-on-year increase of 49.12%. The company's business has expanded to six continents and 49 countries around the world.
The fourth-ranked globally in the field of smart energy solutions, MingYang Smart Energy has also won bids for several overseas wind power projects in the fiscal year 2025.
According to Nikkei Asia, Chinese wind power equipment has entered the Japanese market. A marine wind power project co-owned by JFE Engineering and Kitakyushu Electric Power used Wind Turbines of MingYang Intelligence.
The project developers stated that compared to European and American manufacturers, Chinese fans are “more willing to accept small orders and offer lower prices. Moreover, there are already mature operation cases in Italy.”
