After 12 years, Vestas loses global market share lead

A painter working at the Vestas tower factory in Pueblo, Colo.
Courtesy Vestas Wind Systems

Painters work in the Vestas tower manufacturing plant in Pueblo, Colo. 

Danish wind turbine manufacturer Vestas Wind Systems A/S for the first time in 12 years has lost its lead in global wind turbine market share, according to a report issued Monday.

According to Bloomberg, General Electric Co. overtook Vestas — which keeps its North American sales and service headquarters in Portland — in the latest market share report from Navigant Consulting Inc.'s BTM Consult subsidiary.

Vestas fell to second, while Siemens AG rose from ninth place to third. BTM told Bloomberg the data is preliminary, with the final ranking scheduled for release late next month.

Vestas first rose to the top of the global market share rankings in 2000, according to Bloomberg, rising above Danish rival and eventual acquisition target NEG Micon A/S.

“It’s been part of their identity at Vestas that they’re the biggest in the world,” Jacob Pedersen, an analyst at Sydbank A/S in Aabenraa, Denmark, told Bloomberg. “From a Vestas point of view I would fear Siemens a lot more than GE. Siemens is more global in their reach. GE is extremely dependent on the U.S. market.”

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