Wind Turbine Order Backlogs: Top 10, Siemens Energy €138 B, Goldwind 47.4 GW, and 8 Others (2024-2026)

The global wind turbine market is defined by a distinct bifurcation between Western and Chinese manufacturers, a trend solidified by record-breaking Wind Turbine Order Backlogs and a strategic pivot toward profitability. While Chinese OEMs, led by Goldwind, leverage a vast domestic market to dominate global order volume, their Western counterparts—Siemens Energy, Vestas, and GE Vernova—are focused on improving margins, navigating complex international supply chains, and capitalizing on high-value projects. This dynamic is unfolding against a new, powerful demand catalyst: the immense energy requirements of artificial intelligence (AI) and data centers, which are reshaping future energy projections.

Top 10 Wind Turbine Manufacturers by Order Backlog & Market Position (2024-2026)

The following ranking is based on a comprehensive analysis of order backlogs (in monetary value or capacity), recent order intake, and overall market standing as of 2024-2026.

1. Siemens Energy (Siemens Gamesa)

Company: Siemens Energy
Backlog: The group holds a record €138 billion order backlog, with the wind-specific division, Siemens Gamesa, accounting for 32, 717 MW valued at €36.3 billion as of Q 1 2026.
Position: The company’s primary focus is on restoring profitability and resolving technical issues with its onshore platforms. The massive group-level backlog, which includes a substantial gas turbine business, provides a significant financial buffer to execute this turnaround.
Source: Siemens Energy Annual Report 2025, First Quarter 2026

2. Vestas Wind Systems A/S

Company: Vestas
Backlog: The combined order backlog reached a new record of €76.1 billion in 2026, up from €71.9 billion in 2025. The company posted a record revenue of €18.8 billion in 2025.
Position: As the leading Western pure-play manufacturer, Vestas has completed a remarkable financial turnaround. Its supply chain health is strong, evidenced by soaring profits and a strategic focus on disciplined, profitable orders rather than chasing volume at any cost.
Source: Reports, Vestas ‘completes turnaround’ with soaring profits and …

3. GE Vernova

Company: GE Vernova
Backlog: The wind segment backlog grew from 33 GW to 40 GW in Q 4 2025. Its gas turbine backlog surged to 116 GW in Q 2 2026, partly driven by AI-related energy demand.
Position: GE Vernova’s strength is its diversification. While wind is a key pillar, its massive power and electrification segments provide significant financial leverage for managing supply chain costs and investments.
Source: GEV Press Release 4 Q’25, GE Vernova gas turbine backlog climbs to 116 GW

4. Goldwind

Company: Goldwind
Backlog: Goldwind reported an order backlog of 47.4 GW at the end of 2024 and led global order intake in 2025.
Position: The world leader in turbine installations (19.3 GW in 2024), Goldwind’s supply chain is robust but heavily concentrated in its home market, with nearly 90% of its order intake from domestic Chinese projects.
Source: Chinese Manufacturers Lead Global Wind Turbine …, Goldwind 2024 Annual Results slides: Manufacturing …

5. Nordex SE

Company: Nordex SE
Backlog: Achieved its highest-ever order intake in 2025, lifting its order book to a record €16.1 billion.
Position: A key player in Europe, Nordex ranked second among Western OEMs for new contracts in 2025 and has been the European market leader for four consecutive years, demonstrating strong regional supply chain management.
Source: Nordex Integrated Annual Report 2025_e

6. Envision

Company: Envision
Backlog: While a specific figure is not published, its market performance implies a backlog comparable to Goldwind’s.
Position: Secured its position as the world’s second-largest manufacturer by installations in 2024 and firm order intake in 2025, supported by the immense scale of the Chinese supply chain.
Source: Global wind turbine order intake reached 215 GW in 2025 …

7. Windey

Company: Windey
Backlog: No public backlog figure, but its order intake reflects its market position.
Position: In a testament to the dynamism of the Chinese market, Windey rose to become the third-largest recipient of global wind turbine orders in 2025, highlighting its competitive technology and manufacturing agility.
Source: Global wind turbine order intake reached 215 GW in 2025 …

8. ENERCON

Company: ENERCON
Backlog: A strong and reliable order pipeline in Germany, its core market.
Position: A stalwart of the German market, its E-175 EP 5 turbine was the most frequently approved type in Germany in 2025, indicating deep regional integration.
Source: Strong increase in installations in Germany in 2025

9. Mitsubishi Heavy Industries (MHI)

Company: Mitsubishi Heavy Industries
Backlog: Group-level backlog exceeded ¥10 trillion (approx. €60 billion) in mid-2025.
Position: An industrial giant whose primary strength is in the gas turbine market. Its wind activities are significant but represent a smaller portion of its overall backlog compared to more specialized OEMs.
Source: MHI REPORT 2025

10. Dongfang Electric Corporation

Company: Dongfang Electric Corporation
Backlog: Secure, long-term orders backed by state-level energy plans.
Position: A major state-owned enterprise in China, Dongfang is consistently ranked among the top global turbine suppliers, benefiting from a secure supply chain rooted in the state-backed industrial ecosystem.
Source: Top 25 Companies in Global Turbines Market

Table: Top Wind Turbine Manufacturers by Order Backlog & Market Position (2024-2026)

Wind Turbine Order Backlogs: Profitability vs. Volume in 2025

The massive Wind Turbine Order Backlogs across the industry reveal a fundamental split in strategy. The market is not a monolith; instead, it comprises two distinct camps pursuing different paths to success. This divergence indicates a maturing industry where companies are tailoring their approaches to their unique strengths and regional market conditions.

Western OEMs Prioritize Profitability

Having navigated severe supply chain disruptions and inflationary pressures, Western manufacturers like Vestas, Siemens Energy, and GE Vernova have shifted their focus from a relentless pursuit of market share to one of disciplined, profitable growth. Vestas’s record €76.1 billion backlog and soaring profits underscore the success of this strategy. This approach involves more selective bidding on projects, enforcing stricter contract terms, and prioritizing margin quality over raw volume. The goal is to build a sustainable business that can weather market cycles, a contrast to the high-volume, low-margin approach that previously strained balance sheets.

Chinese OEMs Drive Global Volume

In contrast, Chinese OEMs, including Goldwind, Envision, and Windey, continue to dominate global order volumes. Goldwind’s 47.4 GW backlog is a testament to this, but it is built almost entirely on an enormous and protected domestic market. This high-volume production, supported by a state-backed industrial ecosystem, allows them to achieve economies of scale and offer competitive pricing. While this strategy has made them global leaders in installations, their international expansion remains limited compared to their Western rivals.

AI and Data Centers as a New Catalyst

A new, powerful demand driver is accelerating orders for all energy technologies, including wind. The explosive growth of AI and data centers is creating an unprecedented need for reliable, large-scale power. This has directly boosted the order books of diversified players like GE Vernova and Siemens Energy, whose gas turbine divisions are seeing a surge in demand. This trend provides these companies with cross-divisional financial strength and reinforces the strategic importance of having a broad energy portfolio.

Global Large Wind Turbine Market Poised for $112.9 Billion Valuation by 2034
The global large wind turbine market is projected to grow from $61.3 billion in 2024 to an impressive $112.9 billion by 2034, representing a robust Compound Annual Growth Rate (CAGR) of 6.3%. This consistent expansion signifies sustained investment and increasing global reliance on wind energy.

Market Maturation Demands Innovation and Operational Excellence
While the market shows strong overall growth, the consistent 6.3% CAGR suggests a maturing industry. Manufacturers must focus on leveraging innovation in turbine design (e.g., efficiency of ‘Horizontal-axis’ vs. ‘Vertical-axis” types) and operational excellence to maintain or gain market share in an increasingly competitive landscape, rather than relying solely on broad market expansion.

Global Wind Turbine Market Poised for Significant Growth
The global wind turbine market is forecast to expand from $178.89 billion in 2025 to $283.8 billion by 2030, achieving a robust CAGR of 9.9% from 2026. This surge is primarily driven by the escalating global demand for renewable energy solutions, necessitating increased wind turbine deployment.

(Source: Wind Turbine Market Size, Share Report 2026-2030)

Europe vs. China: A Geographic Split in Wind Manufacturing

The geographic distribution of order backlogs and installations reveals a deeply divided global market. The industry is effectively operating in two parallel universes: one dominated by China’s domestic activity and another where Western OEMs compete in Europe, the Americas, and other international markets. This regionalization has profound implications for supply chain resilience and global competition. Key developers such as Ørsted and Total Energies are navigating this landscape by engaging with manufacturers on both sides of the divide.

China’s Insulated Domestic Market

China stands apart as the world’s largest and most active wind market. Companies like Goldwind and Envision derive the vast majority—nearly 90% in Goldwind’s case—of their orders from domestic projects. This insulates them from the volatility of international trade disputes and logistical challenges but also makes them heavily dependent on the continuity of China’s national energy policies. Their supply chains are deeply integrated and optimized for the scale and specifications of the Chinese market.

Europe as a Key Western Bastion

For Western OEMs, Europe remains the most critical market, as detailed in reports on Offshore Wind: Europe’s Top 10 Companies in 2025. Nordex SE’s four-year reign as the top supplier in Europe and ENERCON’s dominance in Germany highlight the importance of regional specialization. These manufacturers have built strong customer relationships and supply chains tailored to European standards and project complexities, particularly in the demanding offshore wind sector. This regional strength provides a stable foundation as energy majors like Shell continue to refine their renewable energy portfolios.

€76.1 Billion Backlog: Vestas Signals Business Model Maturity

The evolution of wind turbine manufacturers is no longer just about building bigger turbines; it is about building resilient and profitable businesses. The path to maturity involves a strategic pivot from growth-at-all-costs to sustainable, long-term value creation. Vestas’s successful financial turnaround and record €76.1 billion backlog serve as a key case study for this industry-wide shift.

The Turnaround to Disciplined Growth

Vestas exemplifies the new paradigm of disciplined growth. By focusing on the profitability of its order backlog, the company has transformed its financial performance, posting record revenues in 2025. This strategic discipline, now being emulated by other Western OEMs, marks a crucial maturation of the industry. It reflects an understanding that long-term survival depends on financial health, not just market share rankings, especially as project financing becomes more complex.

Managing Complex Global Supply Chains

A key aspect of this maturation is sophisticated supply chain management. Companies are moving away from total vertical integration and toward strategic partnerships and diversification to mitigate risk. This includes managing the supply of critical components like carbon fiber, where suppliers like Toray play a crucial role. The challenges faced by Siemens Gamesa with its onshore platforms highlight the immense risks associated with quality control and supply chain execution, reinforcing the industry-wide focus on operational excellence.

China vs. West: Siemens Energy’s €36.3 B Backlog Against Chinese Volume

Looking ahead, the most critical dynamic is the strategic competition between Western manufacturers focused on value and Chinese manufacturers focused on volume. The expectation for 2026 is that Western OEMs will likely cede further ground on global installation rankings but will capture a larger share of the market’s total profit pool by focusing on high-margin segments like offshore wind and comprehensive service agreements. Conversely, Chinese OEMs will likely struggle to translate their domestic volume leadership into significant international market share without adapting their technology and business models for foreign markets.

• If AI-driven energy demand continues to accelerate, watch for diversified players like GE Vernova and Siemens Energy to leverage the financial strength of their gas turbine divisions to invest more heavily in their wind segments’ R&D and manufacturing capacity.
• A shift in China’s five-year energy plans or domestic subsidies could be happening. This would significantly impact the order books of Goldwind and Envision, revealing their dependence on a single market and potentially forcing them to compete more aggressively abroad.
• These signals could mean Western OEMs are solidifying their focus on margin quality. Watch for continued discipline in bidding, a greater emphasis on long-term service agreements in their €70 B+ backlogs, and potential partnerships to de-risk supply chains and resolve technical debt from previous platform generations.

The questions your competitors are already asking

This report covers one angle of the wind turbine manufacturing market. The questions that matter most depend on your work.

• Vestas profit margins vs Goldwind
• Data center energy demand impact on wind power
• Siemens Gamesa turbine quality issues
• Chinese wind turbine projects outside China

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