Zhong Guo Neng Yuan Wang·2025-10-24 01:08Core Viewpoint - The wind power equipment industry is experiencing a turning point in profitability, driven by strong domestic and international demand, with significant growth expected in both onshore and offshore wind installations from 2025 to 2030 [2][4]. Group 1: Domestic Market Dynamics - Domestic wind power demand remains stable, supported by the "dual carbon" goals and the plan to reach 3.6 billion kilowatts of wind and solar installations by 2035 [2]. - The bidding volume for complete wind turbine units in the first three quarters of 2025 increased by 5% year-on-year, indicating a solid foundation for future installations [2]. - The average bidding price for onshore wind turbines, including towers, increased by 13% in the first eight months of 2025 compared to 2024, signaling a recovery in pricing and profitability for domestic manufacturers [2][3]. Group 2: International Market Opportunities - The Global Wind Energy Association forecasts that from 2025 to 2030, the total new installed capacity for onshore wind outside of China will reach 367 GW, with a compound annual growth rate (CAGR) of 12.4%, while offshore wind is expected to grow at a CAGR of 15.8% [4]. - Domestic wind turbine manufacturers are accelerating their international expansion, investing in factories in Brazil, Europe, and Central Asia, transitioning from mere product exports to localized operations [4]. - In the first three quarters of 2025, domestic manufacturers secured a record 19.28 GW in overseas orders, reflecting a year-on-year increase of 187.8%, with higher order prices and better profitability [4][6]. Group 3: Future Outlook - The wind power sector is expected to maintain high installation levels domestically, with a recovery in bidding prices leading to improved profitability for wind turbine manufacturers as orders from the price recovery phase are delivered starting in Q4 2025 [3][6]. - The combination of stable domestic demand and rising international orders is anticipated to drive significant growth in profitability for domestic wind turbine companies, with a focus on key players such as Goldwind Technology, Yunda Co., Mingyang Smart Energy, and SANY Heavy Energy [6].