Revenue Growth Benchmarks
Top-line performance metrics of companies across industries and countries
Top 50 Global Heavy Electrical Equipment Manufacturers
These equipment manufacturers demonstrated a 13% increase in LTM revenues and 9% growth on an annualized basis. Over a 5-year period, the sales of these companies expanded by an average of 13%, with significant contributions from Sany Heavy Energy (China), Alfen (Netherlands), MingYang Smart Energy Group (China), and Qingdao Tianneng Heavy Industries (China). However, a few companies, including Babcock & Wilcox Enterprises (US), Harbin Electric (China), Bharat Heavy Electricals (India), and Baoding Tianwei Baobian Electric (China), reported a decline in revenues over the same period.
[ 1: LTM Sales in USD Biliion | Red Shading: Companies with negative growth in period | Green Shading: Top 15 companies by growth rank in period ]
| Company | HQ | Reported | Latest | LTM | year-on-year % | CAGR | Growth Rank | ||||||||||||
| Currency | FQ | Sales1 | 3m | 6m | 9m | ltm | 1y | 2y | 3y | 5y | 6m | LTM | 3ycagr | 5ycagr | |||||
| Mitsubishi Electric Corp | JPN | JPY | 2023-12 | 37.26 | 1.5% | 2.6% | 6.1% | 7.4% | 11.8% | 9.3% | 3.9% | 2.4% | 37 | 27 | 39 | 39 | |||
| Siemens Energy AG | DEU | EUR | 2023-12 | 34.29 | 8.3% | -0.5% | 0.6% | 5.3% | 7.3% | 4.5% | 4.3% | 2.1% | 40 | 31 | 38 | 41 | |||
| Shanghai Electric Group Co Ltd | CHN | CNY | 2023-09 | 16.73 | -8.9% | 7.5% | 0.4% | 2.7% | -9.7% | -7.4% | -2.7% | 8.1% | 30 | 35 | 49 | 26 | |||
| Vestas Wind Systems A/S | DNK | DKK | 2023-12 | 16.62 | -0.1% | 5.1% | 4.8% | 6.3% | 6.4% | -0.5% | 1.3% | 8.7% | 34 | 29 | 44 | 24 | |||
| Doosan Enerbility Co Ltd | KOR | KRW | 2023-09 | 13.21 | 4.9% | 11.4% | 17.9% | 22.5% | 40.3% | 29.7% | -0.5% | 2.2% | 22 | 9 | 46 | 40 | |||
| Dongfang Electric Corp Ltd | CHN | CNY | 2023-09 | 8.45 | 17.5% | 13.7% | 10.4% | 8.4% | 15.8% | 21.8% | 19.0% | 10.6% | 20 | 24 | 18 | 22 | |||
| NARI Technology Co Ltd | CHN | CNY | 2023-09 | 7.06 | 11.0% | 12.6% | 11.5% | 11.1% | 10.4% | 10.3% | 13.0% | 14.1% | 21 | 20 | 22 | 15 | |||
| Goldwind Science & Technology Co Ltd | CHN | CNY | 2023-09 | 7.03 | 8.6% | 20.1% | 12.1% | 14.7% | -8.8% | -9.2% | 6.7% | 13.1% | 15 | 18 | 32 | 18 | |||
| Nordex SE | DEU | EUR | 2023-09 | 6.73 | -1.3% | 10.9% | 15.6% | 17.5% | 4.6% | 10.6% | 20.1% | 13.1% | 25 | 16 | 15 | 17 | |||
| MingYang Smart Energy Group Ltd | CHN | CNY | 2023-09 | 4.26 | 40.0% | 25.5% | -3.3% | -1.1% | 13.0% | 17.0% | 43.1% | 42.1% | 9 | 40 | 6 | 2 | |||
| Harbin Electric Co Ltd | CHN | HKD | 2023-06 | 3.73 | na | 7.8% | na | 15.6% | 5.9% | -1.2% | 3.2% | -5.9% | 29 | 17 | 42 | 47 | |||
| Fullshare Holdings Ltd | HKG | HKD | 2023-06 | 3.28 | na | 8.0% | na | 8.2% | -4.7% | 12.5% | 25.0% | 13.2% | 28 | 26 | 10 | 16 | |||
| China High Speed Transmission Equipment | CHN | HKD | 2023-06 | 3.19 | na | 8.5% | na | 8.3% | -4.9% | 13.7% | 29.6% | 20.0% | 27 | 25 | 7 | 9 | |||
| Bharat Heavy Electricals Ltd | IND | INR | 2023-12 | 2.77 | 6.8% | 3.6% | 5.0% | 4.3% | 9.8% | 16.6% | 2.6% | -4.6% | 36 | 33 | 43 | 44 | |||
| China XD Electric Co Ltd | CHN | CNY | 2023-09 | 2.65 | -4.0% | -4.0% | 3.5% | 20.0% | 26.6% | 6.7% | 5.6% | 4.8% | 43 | 13 | 36 | 34 | |||
| Windey Energy Technology Group Co Ltd | CHN | CNY | 2023-09 | 2.55 | 9.1% | 7.5% | 5.7% | 0.6% | 7.6% | 23.1% | 51.4% | 39.8% | 31 | 38 | 4 | 4 | |||
| Hyosung Heavy Industries Co Ltd | KOR | KRW | 2023-12 | 2.37 | -92.7% | -43.2% | -22.7% | -11.8% | -11.8% | 0.0% | 1.2% | 7.3% | 50 | 49 | 45 | 29 | |||
| Xuji Electric Co Ltd | CHN | CNY | 2023-09 | 2.34 | 18.9% | 11.3% | 17.0% | 21.3% | 24.4% | 15.5% | 11.2% | 7.6% | 23 | 11 | 27 | 28 | |||
| HD Hyundai Electric | KOR | KRW | 2023-09 | 1.97 | 29.8% | 24.3% | 33.5% | 27.0% | 16.5% | 7.8% | 5.9% | 7.7% | 10 | 6 | 35 | 27 | |||
| Sany Heavy Energy Co Ltd | CHN | CNY | 2023-09 | 1.91 | 58.0% | 37.9% | 18.0% | 23.4% | 20.9% | 15.1% | 102.6% | 51.1% | 7 | 7 | 3 | 1 | |||
| Shanghai Electric Wind Power Group | CHN | CNY | 2023-09 | 1.60 | 10.3% | 109.7% | -11.6% | 5.6% | -48.6% | -23.6% | 6.0% | 13.0% | 1 | 30 | 34 | 19 | |||
| TPI Composites Inc | USA | USD | 2023-12 | 1.46 | -26.2% | -14.9% | -10.9% | -4.4% | -4.4% | -0.6% | 8.4% | 7.2% | 47 | 41 | 30 | 30 | |||
| Xi'An Shaangu Power Co Ltd | CHN | CNY | 2023-09 | 1.36 | -18.9% | -16.9% | -14.0% | -10.8% | 3.9% | 15.5% | 13.8% | 22.2% | 49 | 48 | 21 | 7 | |||
| Bloom Energy Corp | USA | USD | 2023-12 | 1.33 | -22.8% | 0.3% | 6.0% | 11.2% | 11.2% | 17.1% | 18.9% | 16.1% | 39 | 19 | 19 | 11 | |||
| Titan Wind Energy (Suzhou) Co Ltd | CHN | CNY | 2023-09 | 1.33 | 19.9% | 64.7% | 69.0% | 38.7% | -17.5% | -8.8% | 3.6% | 15.8% | 2 | 4 | 40 | 12 | |||
| Daihen Corp | JPN | JPY | 2023-12 | 1.32 | 9.6% | 1.5% | 0.0% | 4.7% | 15.4% | 13.0% | 8.5% | 4.4% | 38 | 32 | 29 | 36 | |||
| ABB India Ltd | IND | INR | 2023-12 | 1.26 | 13.3% | 21.5% | 21.8% | 22.0% | 22.0% | 22.9% | 21.7% | 9.4% | 12 | 10 | 13 | 23 | |||
| CS Wind Corp | KOR | KRW | 2023-09 | 1.19 | 17.8% | 22.3% | 19.3% | 9.8% | 15.1% | 19.1% | 19.8% | 34.5% | 11 | 22 | 16 | 6 | |||
| Babcock & Wilcox Enterprises Inc | USA | USD | 2023-12 | 1.03 | -3.9% | 4.1% | 15.3% | 17.8% | 17.9% | 18.6% | 20.8% | -1.2% | 35 | 15 | 14 | 42 | |||
| Shihlin Electric & Engineering Corp | TWN | TWD | 2023-12 | 1.02 | -6.5% | -1.6% | -0.8% | 3.4% | 3.4% | 7.2% | 7.4% | 4.9% | 41 | 34 | 31 | 33 | |||
| Hainan Jinpan Smart Technology Co Ltd | CHN | CNY | 2023-09 | 0.90 | 55.0% | 53.3% | 49.7% | 50.6% | 43.7% | 40.0% | 28.4% | 18.7% | 5 | 2 | 8 | 10 | |||
| Koncar - Electrical Industry Inc | HRV | EUR | 2023-09 | 0.87 | 18.6% | 20.8% | 27.1% | 33.5% | 51.1% | 33.3% | 22.0% | 12.5% | 13 | 5 | 12 | 21 | |||
| Sinfonia Technology Co Ltd | JPN | JPY | 2023-12 | 0.75 | -3.4% | -4.0% | -4.2% | 1.8% | 15.0% | 11.6% | 6.6% | 3.8% | 44 | 37 | 33 | 37 | |||
| Suzlon Energy Ltd | IND | INR | 2023-12 | 0.74 | 8.6% | 5.8% | -11.2% | -10.8% | -8.8% | 34.4% | 26.6% | -5.9% | 33 | 47 | 9 | 46 | |||
| Astor Enerji AS | TUR | TRY | 2023-12 | 0.74 | -12.3% | 11.2% | 18.2% | 22.7% | 22.7% | 131.6% | 126.9% | na | 24 | 8 | 1 | - | |||
| Hangzhou Steam Turbine Co Ltd | CHN | HKD | 2023-09 | 0.72 | 1.3% | 6.5% | -15.4% | -18.0% | -13.0% | 4.5% | 9.0% | 8.6% | 32 | 50 | 28 | 25 | |||
| Chung-Hsin Electric & Machinery Mfg Corp | TWN | TWD | 2023-12 | 0.71 | 21.8% | 20.6% | 18.1% | 19.4% | 19.4% | 10.8% | 12.9% | 12.6% | 14 | 14 | 24 | 20 | |||
| Dajin Heavy Industry Co Ltd | CHN | CNY | 2023-09 | 0.67 | -10.9% | -10.6% | -10.1% | -4.6% | 15.2% | 23.9% | 44.6% | 38.0% | 45 | 42 | 5 | 5 | |||
| Guangdong Mingyang Electric Co Ltd | CHN | CNY | 2023-09 | 0.65 | 67.5% | 61.6% | 65.9% | 128.5% | 59.4% | 39.4% | 103.1% | na | 3 | 1 | 2 | - | |||
| China National Electric Apparatus Research | CHN | CNY | 2023-09 | 0.60 | 25.5% | 17.1% | 16.7% | 20.4% | 11.4% | 22.7% | 11.3% | 14.3% | 17 | 12 | 26 | 14 | |||
| Qingdao Tianneng Heavy Industries Co Ltd | CHN | CNY | 2023-09 | 0.60 | -7.4% | -2.6% | 0.7% | -6.6% | 0.9% | 10.5% | 19.3% | 41.5% | 42 | 45 | 17 | 3 | |||
| Hitachi Energy India Ltd | IND | INR | 2023-12 | 0.57 | 24.2% | 16.8% | 12.9% | -9.5% | -9.0% | 13.8% | na | na | 18 | 46 | - | - | |||
| Shanghai Taisheng Wind Power Equipment | CHN | CNY | 2023-09 | 0.56 | 54.9% | 38.8% | 40.3% | 9.7% | -18.8% | -6.9% | 12.1% | 14.5% | 6 | 23 | 25 | 13 | |||
| Baoding Tianwei Baobian Electric Co Ltd | CHN | CNY | 2023-09 | 0.51 | 37.2% | 17.1% | 6.7% | 0.1% | -16.8% | -8.2% | -0.7% | -4.6% | 16 | 39 | 47 | 45 | |||
| Power Solutions International Inc | USA | USD | 2023-12 | 0.46 | -23.5% | -15.8% | -10.4% | -4.6% | -4.6% | 0.3% | 3.2% | -1.5% | 48 | 43 | 41 | 43 | |||
| ShiJiaZhuang Kelin Electric Co Ltd | CHN | CNY | 2023-09 | 0.49 | 99.2% | 54.3% | 56.6% | 44.1% | 28.6% | 22.3% | 22.5% | 22.0% | 4 | 3 | 11 | 8 | |||
| CSG Smart Science and Technology Co Ltd | CHN | CNY | 2023-09 | 0.45 | -13.8% | -13.4% | -7.7% | -6.4% | 15.3% | 10.3% | 12.9% | 5.4% | 46 | 44 | 23 | 32 | |||
| Changshu Fengfan Power Equipment Co Ltd | CHN | CNY | 2023-09 | 0.43 | 70.5% | 30.1% | 16.3% | 6.4% | -14.3% | 2.6% | -2.3% | 4.4% | 8 | 28 | 48 | 35 | |||
| Sif Holding NV | NLD | EUR | 2023-06 | 0.42 | na | 14.0% | na | 10.1% | -11.4% | 5.7% | 4.8% | 2.7% | 19 | 21 | 37 | 38 | |||
| Hezong Science and Technology Co Ltd | CHN | CNY | 2023-09 | 0.41 | 27.8% | 10.8% | -2.0% | 1.8% | 21.9% | 51.0% | 16.1% | 7.0% | 26 | 36 | 20 | 31 | |||
| Source: Annual Filings, Company Website | |||||||||||||||||||