Wind Giants Are Facing More Competition in the Biggest Market
- Domestic market share declining for key China turbine makers
- Overseas firms saw China installations halved in 2021: BNEF
Turbines at a wind farm in Qinghai province, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
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 in a report published Tuesday. “High competition could continue to squeeze the top three’s order volume,” according to the analysts.