Windstory #30 - Top 10 wind turbine manufacturers in 2025
BloombergNEF and Wood Mackenzie have published their respective reports analyzing the market shares of the different wind turbine manufacturers worldwide.
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📈 Top 10 wind turbine manufacturers in 2025
As every year, the consultancies BloombergNEF and Wood Mackenzie have published their respective reports analyzing the market shares of the different wind turbine manufacturers worldwide.
Once again, both reports have come out barely a month apart, which allows, as we did last year, a small comparison between methodologies and conclusions.
If in 2024 the headline was that the top four spots in the BNEF ranking were Chinese for the first time, in 2025 that figure needs to be raised: according to WoodMac, six of the world’s top manufacturers are Chinese and BNEF raises the figure to eight of the top ten. It is a relevant leap that would have been unimaginable just a few years ago.
Before getting started, it is important to highlight that, beyond pure numbers, it is difficult to make a direct comparison between megawatt figures installed inside and outside China. China is a market driven by installation speed and low costs (CAPEX-driven), while the West can be considered a market that looks more at the long-term value of the asset’s life (long-term value).
They are two different markets with different realities, and I’m not sure a direct comparison is entirely fair.
Beyond the ranking, the difference in strategies is very interesting. The Chinese are betting on scale, competitive prices and rapid deployment. Western players have narrowed their focus to core markets, simplified platforms and price discipline.
That said, let’s go with the highlights.
Macro market data
▶️ 169 GW of wind capacity were installed worldwide in 2025, a 38% growth compared to 2024, according to BNEF. Third consecutive record year. Wood Mackenzie raises that figure to 176 GW, with 45% year-on-year growth. These differences usually come from different methodologies for accounting installed capacity versus commissioned capacity, with different treatments by market. In such a fragmented market and with this volume, it is not simple.
▶️ Onshore accounted for 95% of new installations (161 GW), while offshore fell by a third compared to the previous year, down to 8.1 GW. The reasons mainly cited are project delays in China and France, and the paralysis of the offshore sector in the United States due to the political context under the second Trump administration. BNEF expects a recovery in 2026.
▶️ China was the first market to exceed 100 GW in a single year, which almost entirely explains the dominance of the ranking by Chinese manufacturers. China is a market with a brutal volume in which currently only local manufacturers participate.
▶️ Total installations outside China grew 22% year-on-year according to WoodMac (17% according to BNEF). Western manufacturers continue to dominate these markets: they account for 75% of installations outside China, with supply to almost 50 countries, an all-time high.
▶️ More than 60 countries connected new wind capacity in 2025, 13% more than the previous year and an all-time record, according to WoodMac. China, the United States, India and Germany remain the largest contributors by volume. Latin America was the only region to contract.
▶️ The great leap of the Chinese in exports. BNEF sums it up in one sentence: their commissioned capacity abroad multiplied by eight compared to 2024.
WoodMac gives the absolute figure, although quite different: 8.5 GW installed outside China, in 22 markets, more than triple the previous year. The absolute 2025 figures are similar (8.5 vs ~9.6 GW), but the difference lies in the 2024 base figure: BNEF put it at 1.2 GW and WoodMac seems to start from something between 2.5 and 3 GW.
A key data point to understand the move of Chinese OEMs into the rest of the world: dependence on the domestic market dropped from 99% in 2024 to 93% in 2025. It is still a very high percentage, but the trend is starting to be interesting.
▶️ India becomes for the first time the second largest wind market in the world, with 6.3 GW installed according to BNEF, 85% more than in 2024. It overtakes the United States, which had held that position since 2014.
Domestic installations by Indian manufacturers practically doubled, up to 2.7 GW.
▶️ Goldwind leads with around 29 GW, consolidating itself as the world’s largest manufacturer. To get a sense of the leap that this volume represents, in 2024 it installed 19.3 GW. In a single year it has grown more than 10 GW, equivalent to practically everything Vestas installed the previous year. Also, if you look at the WoodMac chart, its share of installations outside China is starting to be relevant.
▶️ Envision comes in second place with between 20 and 22 GW, with almost a quarter outside China. Together with Goldwind, it is the first time two manufacturers exceed 20 GW in the same year, according to WoodMac. Also interesting to see how Envision has installed more GW outside China than its rival Goldwind.
▶️ Mingyang and Windey occupy the third and fourth places with 18.9 and 18.4 GW respectively according to BNEF. WoodMac reverses the order and assigns them around 19 GW each. In 2024 both were around 12-12.5 GW, so they have grown approximately 50% in a year.
▶️ Sany closes the top 5 with 13.5 GW according to BNEF, or 15 GW according to WoodMac. The sixth place is where the first significant divergence between consultancies appears: BNEF assigns it to Dongfang Electric (13.5 GW), while WoodMac places CRRC there with 11 GW and relegates Dongfang to eighth.
▶️ Vestas falls to seventh place with 10.6 GW, the first time it is out of the top 5 since BNEF started publishing this ranking in 2013. Vestas maintains the leadership of greatest geographic diversity with turbines commissioned in 28 markets according to BNEF, and delivered in almost 40 markets according to Wood Mackenzie.
▶️ From there on, the rankings diverge clearly. Siemens Gamesa enters the top 10 according to BNEF but not according to WoodMac; GE Vernova and Nordex enter according to WoodMac but are left out according to BNEF. The absolute figures are also very different, which again points to methodological differences.
▶️ In offshore, the dominance remains European: Siemens Gamesa led the market for the second consecutive year, surpassing Goldwind.
▶️ Other notable names outside the top 10: Enercon reappears in the ranking this year with 3.8 GW according to BNEF (13th place) or 4 GW according to WoodMac (14th place). And two Indian manufacturers enter the top 15: Adani with 1.2 GW (only in BNEF) and Suzlon with approximately 1 GW (only in WoodMac).
Firm orders
Before closing, it is worth looking at another data point that was published separately and that is important not to confuse with the above. The previous figures are commissioned installations in 2025. But Wood Mackenzie published in February a parallel analysis of firm orders (firm order intake). This is key to understanding installations over the coming years.
▶️ The global volume of firm orders reached 215 GW in 2025, the second highest figure ever, although with an 8% year-on-year decline. The main reason is that the Chinese market reduced its orders to 150 GW (-15% year-on-year).
▶️ Outside China the story is different: an absolute record with 65 GW ordered. Europe was the positive surprise, with 60% year-on-year growth in onshore orders, with Germany as the locomotive.
▶️ Chinese orders abroad reached 22.7 GW (+66% year-on-year). The most high-profile order has been Goldwind’s 3.1 GW in Saudi Arabia for two sites, the largest ever recorded in the region. Chinese OEMs captured 95% of orders in the Middle East and Africa in 2025.
▶️ In the top 10 of firm orders, eight are Chinese manufacturers. The only non-Chinese ones are Vestas with 16 GW (the largest order among Western players) and Nordex with 10 GW, its biggest global record ever. Nordex also leads the onshore intake in Europe.
In an upcoming edition, we will analyze the sales of Chinese manufacturers outside China. If you don't want to miss it, subscribe.
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