ABSTRACT
The difficult years of 2011-2013 were followed by a strong recovery in the 2014-2016 period, driven by a modest global economic recovery, the extraordinary boom in China's energy sector, steady expansion in core markets and the opening up of new frontier countries. Recovery led to a new record year in 2015. The global industry installed almost 64GW, led by 31GW of installations in China. In 2014, Vestas declared the turnaround a success and entered a new phase, which Runevad describes as a strategy based on 'growing profitably in new and emerging markets; building up the service business; and focusing on operational excellence'. Runevad says 'The wind industry is moving from a period of solid growth to one of high and steady volumes, and we are preparing now for that future.' In 2016, Vestas supplied more turbines in the US than any other company.
