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Bloomberg
China’s top wind turbine producers are facing a growing challenge in the world’s largest market, as smaller players increase sales and with fierce competition on pricing.
The market share of the top three turbine makers in China fell for the second year in a row and is now down to 48% from 62% in 2019, BloombergNEF analysts Leo Wang and Cheng Ma said. “High competition could continue to squeeze the top three’s order volume,†according to the analysts.
Installations in China by foreign companies, including Vestas Wind Systems and General Electric, halved last year and the outlook for 2022 remains difficult, the analysts said.