LONDON, Feb. 26, 2018 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today released FTI Intelligence’s preliminary rankings for the world’s top five wind turbine original equipment manufacturers (“OEMs”), which found that Danish manufacturer Vestas held the title as the world’s largest supplier of wind turbines in 2017, due to the Danish supplier’s wide geographic diversification strategy and strong performance in the U.S. market.
These rankings will be published in the Global Wind Market Update ― Demand & Supply 2017, which will be released in March 2018. Preliminary results are subject to change between now and the release date of the actual report. The report is part of a series of data-driven market intelligence publications evaluating competitive markets, policy, finance, technology and business models across the energy spectrum.
Siemens Gamesa ranked second in 2017, primarily due to the recent merger between Siemens Wind Power and Gamesa, its strong position in the offshore sector and India and improved position in the United States, according to preliminary findings from FTI Intelligence.
Chinese supplier Goldwind remains in third position in 2017, despite the share in its home market decreasing another 15 percent in 2017, according to FTI Intelligence research.
GE fell two positions to fourth place, particularly due to the loss in its home market, where Vestas overtook it as the No. 1 supplier for the second year in a row.
Enercon retains fifth place by taking advantage of strong domestic market growth in Germany, where nearly 6.5 GW were installed in 2017, making it a record year.
At this time, FTI Intelligence assigns the following OEM market rankings:
2017 Ranking | Turbine OEM | Change | Commentary |
1 | Vestas * | - | Remains in lead for second year running |
2 | Siemens Gamesa * | +2 | Gamesa and Siemens were placed 4th and 6th position separately in 2016 |
3 | Goldwind ** | - | Remains in 3rd position for second year running |
4 | GE * | -2 | Down from 2nd position in 2016 |
5 | Enercon* | - | Remains in 5th position for second year running |
* Based on preliminary data analysis
** Based on installation data released by CWEA
Among other highlights, FTI Intelligence notes that Nordex Acciona moved up one spot due to strong position in Germany and better performance in the United States. In addition, Senvion returned to the top 10 turbine supplier ranking in 2017 by taking advantage of strong home market growth in Germany. The rest of OEMs in the top 10 are all Chinese-based manufacturers.
The Global Wind Market Update – Demand & Supply 2017 report examines the evolution of the global wind market in 2017 and addresses key market and technology trends and policy updates. It also forecasts global demand trends through 2027. This report will be available free of charge on FTI Intelligence’s website in March 2018.
Preliminary Findings in the Global Wind Market Update – Demand & Supply 2017:
“Our preliminary findings show that the top five turbine OEMs accounted for 62 percent of the new installations in 2017, almost 10 percent greater than the previous year. The uplift is a clear indication that the recent M&A activity has helped western turbine suppliers enhance their strategic positioning and consolidate their market share,” said Feng Zhao, a Senior Director at FTI Consulting and Head of FTI Intelligence. “The further drop in the Chinese market is in general bad news for Chinese turbine vendors, as they primarily rely on their home market to secure a position in the top-10 turbine supplier ranking.”
Aris Karcanias, a Senior Managing Director at FTI Consulting and Co-Lead of the Global Clean Energy practice, added: “In a more measured future period of growth, innovation beyond the turbine itself is required to maintain competitiveness and drive market share. Future winners need an agile commercial tool kit that addresses system needs, market-based risks, an evolving customer set, and advanced digital tools to deliver cost-competitive commercial power agreements alongside complete service solutions. The systems integration perspective holds the key to success, as scale alone will not drive value.”
“After months of concern, the U.S. tax bill eventually keeps the PTC phase-out schedule, PTC value and IRS’ safe harbour rules unscathed. This provides much-needed certainty for the U.S. wind industry through 2020,” said Chris LeWand, a Senior Managing Director at FTI Consulting and Co-Lead of the Global Clean Energy practice. “It is also absolutely crucial for Vestas and GE, as the two suppliers currently own nearly a 90 percent market share for projects under construction or in advanced development in the U.S.”
The Global Wind Market Update – Demand & Supply 2017 report is authored by members of the cross-practice team of energy experts from FTI Consulting and its subsidiary, Compass Lexecon. The views expressed in this piece are those of the authors and are not necessarily the views of FTI Consulting, its other professionals, its management or its subsidiaries and affiliates.
To learn more about FTI Intelligence’s Global Wind Market Update – Demand & Supply 2017, please visit the FTI Intelligence website at www.fti-intelligence.com or contact fti intelligence@fticonsulting.com.
About FTI Intelligence
FTI Intelligence clean energy research concentrates on the global, rapidly evolving renewable energy market, with a focus on wind, solar, biomass, wave, tidal and small hydro technologies. The foundation of these publications is primary research that delivers a wealth of market intelligence supported by hard data, competitive analysis and strategic insight. Our team members include leading energy industry experts and an extensive network of professionals who deliver cutting-edge focus and insight.
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About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organisations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,600 employees located in 28 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.81 billion in revenues during fiscal year 2017. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
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