Chinese wind companies won more than 30 per cent of global turbine sales in 2011 and their combined turbine manufacturing capacity is expected to be worth $73bn this year.
China is increasingly shifting focus to developing markets and away from the US and Europe, where the market is undeveloped but promises to grow quickly from a low base.
China’s turbine exports are still small as a per cent of total global installations, but increasingly Chinese groups including Sinovel (SEHK: SINOVZ) and Goldwind ((SZSE: 002202)– the world’s second- and third- biggest turbine makers by market share – are setting up local production facilities to m eet the needs of wind markets overseas.
“Given the uncertain global climate for wind and solar since last year, we think this represents a very good opportunity for us to focus on developing markets,” Zhang Chuanwei, chief executive of Mingyang, China’s fourth-largest turbine producer by sales, told the Financial Times.
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