Core Insights - The renewable energy equipment manufacturing industry, particularly wind turbine gearboxes, is experiencing unprecedented growth opportunities driven by new national contribution targets, with reliability becoming a core competitive advantage for future products [1] Industry Overview - The 2024 global wind turbine gearbox shipment ranking shows Nanjing High-Speed Gear Manufacturing Co., Envision Energy, and Delijia ranked as the top three companies [2] - Nanjing High-Speed Gear leads in order volume and market share, with an estimated shipment of approximately 9,000 units valued at 15 billion RMB, while Envision Energy and Delijia have shipments of about 2,700 units valued at 3.8 billion RMB and 2,650 units valued at 3.7 billion RMB, respectively [2] Market Dynamics - The localization of wind turbine gearboxes in China has evolved through three stages, with foreign brands dominating before 2016, followed by the emergence of domestic brands like Nanjing High-Speed Gear and Envision Energy after overcoming technological barriers [3] - The wind power industry is facing challenges due to the complexity of manufacturing processes and the increasing size of wind turbines, but leading companies like Envision are achieving complete autonomy in core components like gearboxes [3] Future Projections - By 2034, global wind power installations are expected to peak at 200 GW per year, translating to a potential market size of 400 billion RMB for wind turbine gearbox procurement over the next decade [4] - Envision Energy has pioneered innovative technologies in gearbox design, enhancing the domestic industry's capabilities and addressing reliability challenges [4] Technological Advancements - Envision Energy has established a comprehensive testing and validation system for wind turbine gearboxes, with testing durations exceeding international standards, ensuring high reliability and performance [4][5] - The company has delivered over 10,000 self-researched and manufactured gearboxes, achieving a failure rate significantly lower than the industry average, and covers a product range from 3 MW to 20 MW integrated transmission chains [5]

Core Insights - The domestic wind turbine gearbox industry in China has accelerated its localization due to policy guidance, market drivers, and manufacturing advantages, leading to the emergence of several companies capable of independent research and production of gearboxes [1][4] - The 2024 global wind turbine gearbox shipment ranking was announced, with the top three companies being NGC, Envision Energy, and Delijia [1][2] Company Performance - NGC is projected to ship approximately 9,000 units in 2024, capturing about 34% of the market share [2] - Delijia is expected to optimize its production processes, with an estimated shipment of around 2,650 units and a market share of about 10% in 2024 [2] - Envision Energy, the only wind turbine manufacturer on the list, is anticipated to ship around 2,700 units, with a shipment capacity exceeding 16 GW and a market share of 11%, ranking second globally in wind turbine gearbox shipments [2] Technological Advancements - Envision Energy has developed and validated its wind turbine gearboxes, which are deeply integrated with wind turbine performance requirements, having shipped over 10,000 units across 12 countries and more than 520 wind farms [2][4] - The gearboxes produced by Envision have not experienced any failures due to material defects, demonstrating a failure rate significantly lower than the industry minimum [2] Industry Trends - China has maintained its position as the world's largest wind power market for 15 consecutive years, with significant improvements in technological innovation and a shift from "catching up" to "leading" in key areas [4] - The localization of wind turbine gearboxes is essential as the reliance on imported components has become increasingly unsustainable due to the rapid pace of technological innovation and market demand in China [4] - The wind turbine gearbox industry is currently at a critical stage of development, focusing on creating a self-controlled, safe, and efficient industrial system to maintain China's leading position in the global renewable energy equipment sector [4]