Goldwind Reappears in the 2018 BCG Global Challengers 100 List Again

On 8 August 2018, the Boston Consulting Group (BCG) released the 2018 BCG Global Challengers 100 list. Goldwind, which had joined the list in 2016, reappeared on the list again for its diligent & meticulous work and excellent performance. Some renowned Chinese enterprises like Alibaba, Tencent and Xiaomi are also included in the list.

What do “global challengers” mean?

Almost every challenger on the list is a leader in its corresponding industry in the domestic market and a challenger to the existing industrial pattern in the global market. Since 2006, BCG was to release a list of “global challengers” every 18 months. It expected that these global challengers would bring about profound change to every industry and market across the globe.

Then, who are on the list of “global challengers”?

Data shows that, after long-term tracking and observation of various data, including enterprises’ annual revenues, number of employees, growth rates and incomes from overseas markets, BCG uses a complete set of quantitative and qualitative criteria and takes into account the opinions from global industrial experts before choosing the global challengers 100.

In the 2018 global challengers’ report, BCG published the long-term total shareholder returns (2000-2017), and the global challengers 100 substantially outperformed their global peers and market indexes. “With world-class strength and performance, ‘global challengers’ know how to achieve success despite the volatility and turbulence of the times,” said BCG’s report. Therefore, “global challengers” means those having the potential for and adeptness in maintaining long-term, fast and stable growth in an atmosphere of uncertainty.

Laying the foundation stone with technology and quality

Goldwind has always been pursuing the course of improving the quality of its products & service and expanding market presence by technological innovation. Having worked diligently in the field of wind power for 20 years, Goldwind has a huge experience in optimum operation and iterative optimization design of over 24,000 direct drive turbines. Besides, it embraces the spirit of originality, highlights gaining and sharing of experience, and continuously promotes technological innovation.

In 2017, Goldwind’s worldwide newly installed capacity reached 5.6GW. According to Bloomberg New Energy Finance, Goldwind captured 29% of the market share in the domestic newly installation segment, making the company the largest wind turbine manufacturer in China for the seventh consecutive year, while global newly installation market share reached 11%, the third largest in the world.

Marching ahead steadily for internationalization

BCG points out that, in addition to rapid growth, “global challengers” must be those aspiring to establish global presence, instead of those only striving to increasing exports.

By expanding global presence, Goldwind has realized internationalization of technology, products, market, management, human resources and capital operation. The company installed turbines in 20 different countries across 6 continents, and set up 7 major research and development centers to promote development through innovation. By the end of 2017, Goldwind had installed over 28,500 wind turbines around the world, with total capacity exceeding 44 GW.

According to the 2017 China’s Wind Power Industry Map, China exported wind turbine capacity of 641MW in 2017, with an accumulated volume of 3,205 MW. Among them, Goldwind ranked the first in export of wind power capacity by exporting 399.5MW in 2017, accounting for 51.2%. Nearly a half of newly installed direct drive turbines in the world were from Goldwind.

Following the irresistible trend of digitalization

The research by BCG finds that the global challenger 100 shares the feature of digitalization. Almost 60% of the companies on the 2018 list are either digital natives or significant digital adopters. These global challengers from emerging markets are achieving leading positions by leapfrogging their counterparts in developed markets.

Some are innovators in digital technologies - bring their inventions to market, build major businesses on new technology foundations, and take share from developed market competitors. Others innovate in their use of technology to develop new products and services in more traditional industries or to upend traditional ways of manufacturing, or delivering products and services.

The year 2017 saw the digital transformation of Goldwind. Goldwind has transformed wind in physical sense into “digital wind” through Internet of Things, big data and cloud computing, launched many digital products and services in exploitation of wind resource potentials, design of intelligent wind farms, boosted wind turbines’ efficiency and power, and applied digital technologies to the whole process from design to operation.

The systems independently developed by Goldwind, including FreeMeso2.0, GoldFarm, POWERNESTTM, SOAMTM and Resmart, cover the planning & design, construction and operation of wind farms, and integrate integral IT tools for concentrated power forecasting, intelligent fault diagnosis, early warning of health state and optimized operation of wind turbines. Enhanced sensing, greater connectivity and wider application of intelligent system will help to increase power generation, reduce cost and improve efficiency in utilization of wind resources.

In future, Goldwind will continue to achieve development with innovation being its main impetus. It will strengthen its position in China, seek expansion in the world, commit to being a pacemaker in the global industries of renewable energy and environmental protection, to drive the domestic industrial transformation and promote clean energy development to a newer stage.