The admission by Vestas president Ditlev Engel last week that the company has “a credibility problem” was refreshingly candid.

Announcing a restructuring that would result in more than 2000 jobs cuts, he said he could understand if people outside the firm believed it to be “in a state of crisis”.

And it is in a state of crisis, but it is far from alone. In a turbine manufacturing market that has become saturated in an incredibly short period of time, the established players – like Vestas – are feeling the pressure from new entrants.

This was always going to happen, but now there will be a period of adjustment when the market, having expanded to accept the new kids on the block, gives them a trial period to prove themselves.

If their products cannot find regular buyers in a sector that is demanding technological excellence and innovation on a daily basis, they too will first find themselves in a state of crisis, and then out of business. Engel called this the “elimination race”.

Meanwhile, players like Vestas must adapt to weather the storm, and it will be a tough time – especially if you are one of the 2335 staff about to be made redundant.

But traditionally, established companies survive, because they have built their brand on a measured approach with the technological know-how to respond to market demands. This results in full orderbooks – which is just what Vestas also has at the moment.