China Ming Yang Wind Power Group Limited (NYSE: MY) (“Ming Yang” or the “Company”), takes 8th in world’s top 10 wind turbine original equipment manufacturers (“OEMs”) ranking in 2014, raised from 9th last year, according to the report of Global Wind Turbine OEM Market Share Study released by MAKE Consulting. The same source reveals that the market share of Ming Yang hit 9.9% in total in 2014, with an 11.1% increase of the whole market growth. Ming Yang was also one of the only two Chinese companies that retained its position compared to 2013.
The report also shows that 8 out of the 15 world’s top OEMs in 2014 were from China. “China’s unparalleled growth dominates the industry,” cited the report, which says the Chinese wind market grew 23.6GW in 2014, reaching 114.9GW in total.
Statistics provided by Global Wind Energy Council (“GWEC”) reaffirmed MAKE’s point with its research, showing that China’s newly installed capacity and cumulative installed capacity were 23,351 MW and 114,763 MW, respectively, representing approximately 45% and 31% of the world’s total newly and cumulative installed capacity in 2014, claiming the crown.