Global wind turbine orders hit record-high in H1

The orders amounted to $40.5b.

Wind turbine orders globally increased by 12% year-on-year (YoY) in the first half of 2023, reaching a record high of 69.5 gigawatts of activity (GW), driven by the significant increase in orders from outside of China.

In a report, Wood Mackenzie found that China still remains the largest market, comprising 44 GW of the orders. 

“China’s intake continues to be incredibly impressive as well, even with activity remaining flat through the first half of the year,” Luke Lewandowski, vice president, global renewables research at Wood Mackenzie, said. 

The reported orders from outside of China were over 25 GW, increasing 47% YoY. Orders from North America reached 7.7 GW, more than quadrupling from 1.9 GW in the same period last year.

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“We’ve seen strong demand outside of China this year, which is really encouraging,” Lewandowski said.

“Supply chain challenges remain, but conditions have improved enough to spark procurement decisions. Momentum from the Inflation Reduction Act in the U.S. has helped to motivate order activity, although increasing clarity and market certainty will drive an even larger volume,” he said adding that demand from the offshore market particularly in the U.S. and Europe was one of the demand drivers.

Orders from the offshore sector were up by 26% YoY to hit a record 12 GW.