Wind Turbine Order Surges to New Heights in 2023, Reaching 155 GW

Global wind turbine order intake has soared to unprecedented levels in 2023, registering 155 gigawatts (GW) procured for the year.

This marks a notable increase of 16 GW in terms of wind turbine order compared to the previous year, according to findings from Wood Mackenzie’s ‘Global wind turbine order analysis: Q1 2024’ report. The surge in order intake was accompanied by a substantial rise in annual investment, estimated at around US$ 83 billion.

In the fourth quarter of 2023 alone, global order for wind turbines rose 2.5 percent, contributing to a 12 percent year-over-year growth for the entire year.
China emerged as a key player in this surge, with developers in the country ordering approximately 100 GW of wind turbines in 2023, marking the largest annual order intake on record. This feat signifies consecutive years of robust order intake, with at least 90 GW procured annually. The growth in onshore demand from China’s wind bases has been the primary driver behind this remarkable expansion.

Furthermore, Western markets also made significant contributions, with record order intake levels observed in 2023. Notably, a record-breaking 55 GW of orders were placed, with Europe and North America exhibiting substantial year-over-year momentum, contributing 19 GW and 17 GW, respectively.
Commenting on this trend, Luke Lewandowski, Vice President of Global Renewables Research at Wood Mackenzie, noted, “A record haul outside of China in Q4 and a near doubling of order capacity in North America throughout 2023 helped continue market recovery for Western markets, with a 26 percent increase in order intake YoY.”

While global intake for offshore wind experienced a decline of 61 percent in the fourth quarter of 2023 compared to the previous year, the onshore wind sector witnessed a significant uptick, with orders increasing by 11 percent year-over-year. Lewandowski highlighted that despite challenges faced by the offshore wind industry, firm order intake for offshore projects outside China tripled in 2023.
Leading the pack in terms of order intake were Envision with 22 GW, followed closely by Vestas with 19 GW and Goldwind with 18 GW.

Vestas secured the top position among Original Equipment Manufacturers (OEMs) in Q4 for the second consecutive quarter, fueled by significant orders, particularly in the United States.

The report also underscores a surge in demand for onshore wind turbine models rated between 7 and 9.9 MW, witnessing a sevenfold increase year-over-year, indicating a shifting landscape towards larger capacity turbines.