'Western OEMs will feel pressure of Chinese rivals' who face oversupply at home - Rystad
Analyst firm in new report also says some 150GW of new global wind capacity to be added annually through 2030
Chinese wind turbine manufacturers and component suppliers are pushing their business to international markets due to intense competition at home, a new wave of oversupply and tightening profit margins, according to Rystad Energy.
While the US is expanding its domestic supply chain thanks to incentives in the Inflation Reduction Act (IRA), Europe will need to strike a balance between securing a stable supply and mitigating its dependence on China, the analysts firm said in its latest Wind Trends Report
“Western OEMs will feel the competitive pressure of their Chinese rivals, but will retain a dominant position in Western markets, where protectionist policies will pose challenges to the entry of Chinese OEMs,” the analysts reckon.
