Summary of our market study

The global wind energy market has been witnessing moderate growth with an estimated value of 44.7 billion in 2017 and an expected average annual growth of 1.3%. Market concentration is high, with four manufacturers controlling over 50% of the market and 15 companies accounting for 90.8%. Noteworthy is that Wind turbine manufacturers like Vestas and Siemens Gamesa have significant revenues of 10.1 billion € and 9.1 billion €, respectively. The market is expected to see the continued dominance of onshore wind power, particularly in countries rich in wind resources such as China, the United States, Germany, and the United Kingdom—countries that collectively installed 65.1% of new wind farms in 2018. France's wind turbine market was valued at 1.3 billion euros in 2016, with onshore wind energy making up 95% of the total market share. Digitalization and improved turbine efficiency are expected to be major growth drivers, optimizing grid integration and reducing costs. The sector is highly regulated, with installation processes, operational standards, and environmental considerations strictly overseen by state policies, including purchase pricing by state utilities like EDF. Multi-annual energy programs target a 40% increase in the share of electric renewable energy by 2023, aiming for 24.6 GW of onshore and 2.4 GW of offshore wind energy capacity..Title: French Wind Energy Market: Navigating Through Growth and Challenges The French wind energy market has seen substantial growth, with the sector experiencing dynamic expansion particularly since 2014. This market has been fostered by both political commitment and economic interest, with renewable energies considered a viable alternative to fossil fuels. With the implementation of multiannual energy programs that set targets for 2023 and 2028, the country has shown a clear determination to increase its renewable energy footprint, aiming to boost the share of electrical renewable energies by 40% between 2015 and 2023. The demand for wind energy in France is underpinned by an array of onshore wind turbines, which account for the overwhelming majority of installations. Offshore wind farms, although not as prominent, are set to receive increased attention given the government’s objectives. Notably, the wind market here is responsible for more than 17,000 direct and indirect jobs and encompasses over 1,000 companies, indicating its significant contribution to the economy. The mainstay of the market's structure is the dominance of onshore wind energy, with pivotal regions such as Hauts-de-France and the Grand Est being hotspots for wind turbine installations. These installations reflect a marked inclination towards securing sustainable sources of energy and a drive towards reaching the set targets of 24.6 GW by 2023 and 34.1 GW by 2028 for onshore wind power. The market also reveals a pattern of concentration among operators, with a few big energy companies such as Engie, EDF, and Boralex leading in wind farm operation. Investment in wind energy infrastructure is a significant focus for these operators, reflecting the industry's need for continuous development and upgradation. This concentration trend is reinforced by mergers and acquisitions aimed at achieving profitability as the sector contends with cost pressures. On the technological front, wind turbines have been evolving, with a pivot towards digitalization and increased efficiency. This evolution involves optimizing energy production and integrating wind power more seamlessly into the electricity grid – a factor that could be catalyzed by the utilization of energy storage solutions. Innovations in design, modularity, and standardization of components are pivotal strategies that manufacturers are employing to remain competitive and meet burgeoning energy demands. Regulations in the French market are stringent and methodical, with environmental authorizations and technical decrees being baseline requirements for installations. The sector enjoys support from the state in the form of subsidies, with operators benefitting from premiums that cover the price differential between the purchasing and market resale value.### Key Players Shaping the Wind Energy Sector Landscape The wind energy industry comprises a diverse range of companies, each playing a crucial role in the advancement and proliferation of wind power solutions across the globe. Here, we spotlight some of the key players who stand out in the market due to their significant contributions and strategic positions. **Vestas**: As a trailblazer in wind turbine manufacturing, Vestas has established itself as a global leader dedicated to harnessing the power of wind. With a robust portfolio of products and services, Vestas not only designs innovative wind turbines that push the boundaries of technology but also offers comprehensive solutions encompassing installation and dismantling, underscoring their commitment to renewable energies. **Siemens Gamesa**: Born from the union of two powerhouses in energy, Siemens Gamesa represents a fusion of engineering prowess and visionary environmental commitment. Pioneering some of the most efficient and reliable wind turbines in the market, they emphasize smart grids while keeping an eye on the emergence of new trends, influencing the evolution of the industry. **Goldwind**: Emergent from China, Goldwind is a testament to the country's escalating role in renewable energy. As a prominent manufacturer of wind turbines, Goldwind is dedicated to excellence in innovation, providing sustainable energy solutions while driving the wind power revolution in Asia and beyond. **GE Renewable Energy**: As a subdivision of the larger General Electric conglomerate, GE Renewable Energy harnesses the capabilities and extensive research and development to propel forward in the renewable energy space. Their expertise in manufacturing advanced wind turbines and renewable infrastructure exemplifies their dedication to a greener future. **Enercon**: Operating primarily out of Germany, Enercon has left an indelible mark on the wind energy industry through its distinctive wind turbine designs and solutions. With a keen focus on sustainability and eco-friendliness, Enercon continues to drive innovation and efficiency in wind energy generation. **Suzlon**: Hailing from India, Suzlon has grown into a global force in renewable energy, specializing in the development and production of wind turbine systems. Their holistic approach encompasses the full lifecycle of wind energy projects, demonstrating their commitment to sustainable development. **Senvion**: Although smaller in comparison, Senvion stands tall with its targeted and efficient solutions in the wind energy sector. The company's focus on technical innovation and responsive service offerings positions it as a competitive player on the global stage. When it comes to wind farm operations, companies like **Engie** and **EDF** represent titans in the energy sector.

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1 Market summary

1.1 Definition and scope of study

Wind turbines appeared several centuries ago as a form of tools for draining or irrigating wet or dry areas . It was not until the 1950s that the first wind turbines producing electricity appeared. Using blades, a rotor, a nacelle and a mast, the wind is converted into electricity. A wind turbine allows you to supply an average of 1,150 households as defined in Switzerland Wind Energy .

A wind turbine corresponds to the visible structure of the wind turbine except for the mast. The aim for manufacturers is to design blades that convert as much wind energy as possible into electricity. The role of manufacturers does not stop at the design stage, as they realize , install and dismantle the wind turbines they design.

While renewable energies are becoming a real political and economic challenge, wind energy is a potential alternative to fossil fuels. The number of installations is increasing on the territory, especially since some of them targets have been set for 2023 and 2028  via the multiannual energy programmes

However, there are still many challenges for the sector. The profitability of turbiners remains very low and the emergence of new trends, such as smart grids could encourage the emergence of new players in a highly concentrated sector.

 

List of charts presented in this market study

  • Marché mondial des turbines éoliennes
  • Principaux fabricants de turbines éoliennes
  • Évolution des nouvelles installations d'éoliennes
  • Nouvelles installations d'éoliennes
  • Répartition des revenus de la fabrication de composants d'éoliennes
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Latest news

Vestas: pleading for shorter commissioning times in Europe - 09/08/2023
  • The Danish group has forecast annual sales of between 14 and 15.5 billion euros
  • The target of installing 30 GW of wind power capacity in Europe was missed, with only 15 GW actually installed.
  • The value of Vestas' order book increased to €20 billion, compared with €18.9 billion last year.
  • 80 GW of wind power projects are planned in Europe.
  • The company's services order book continues to grow, compensating for the slowdown in wind turbine sales, and now stands at 31.6 billion euros.
Wind power: Siemens Energy's losses soar - 08/08/2023
  • Siemens Energy, the world's second-largest wind turbine manufacturer, posted a loss of almost three billion euros in its third fiscal quarter.
  • The company had already announced an increased failure rate in June, which caused its shares to fall by almost 40% on the stock market.
  • The company estimates the costs of resolving its quality problems at 1.6 billion euros, which were taken into account in the last quarter.
  • The company expects an after-tax loss of 4.5 billion for the full 2022-2023 financial year, despite sales growth of 9-11%.
Offshore wind energy: historic order for Atlantique Offshore Solutions - 27/06/2023
  • Chantiers de l'Atlantique sales: 1.9 billion euros
  • Its subsidiary specializing in offshore wind turbines, Atlantique Offshore Solutions, controls a quarter of the European market
  • Order for two substations for Germany's RWE: cumulative output of 600 megawatts
  • Load plan: five substations to produce 2 gigawatts of power
  • European forecast: offshore wind power to grow from 30 to 300 gigawatts by 2050
  • Need to produce 15 substations each year
  • Asian competition: prices 25% lower, 25% of AC substations manufactured in Asia, 75% of DC market built outside Europe
The bad times in the wind energy sector have shaken Danish giant Vestas. - 10/08/2022
  • Net loss of 121 million euros in Q2 2022
  • Sales fall from $3.3 billion to 3.2 billion euros
  • Caught up in the sector's difficult economic climate, the wind turbine manufacturer was hard hit by supply difficulties and rising energy costs in the first half of the year

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Vestas
Goldwind
GE Renewable Energy France
Enercon
Suzlon
Siemens Gamesa
Boralex
New World Wind
Sereema
Atlantique Offshore Solutions (Chantiers de l'Atlantique)
Nordex
Singulair

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