The China power market size is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing focus on renewable electric power generation, rising consumption of electricity, increasing investments in power sector, rapid urbanization, growing number of consumers, and rising consumption has led to the growth of power generation in China.
Power is the rate, per unit time at which an electrical energy is transferred with the help of an electric circuit. Power generation is the process that transforms different types of energy into the electrical energy. There are various types of source of power generation such as non-renewable and renewable energy. It generates the electricity from the primary sources of energy. Power transformer is an electric device that is used to transfer electric energy from one electric circuit to multiple electric circuits.
Power plants generates electricity by heating engines fueled with combustion or nuclear fission or by different means including kinetic energy of wind, water, and others. The two main process carried by power generation industry that is producing power and distribution of power with the help of predefined power. These tasks are completed by the entities including sole traders, partnerships, and organizations that do operate facilities in the electric power generation.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing investments in transmission and distribution infrastructure is estimated to propel the market expansion during the forecast period.
- Rapid growth in renewable power sector is major factor driving the market growth.
- Growing government investments in the buildings and maintaining the power infrastructure is anticipated to fuel the market expansion in the coming years.
- High cost of power consumption is projected to hamper the market growth during the forecast period.
- R&D investment and technological advancement in power are expected to offer significant opportunities for the market players.
Scope of the Power Market Report
The report on the China power market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Power Market - China Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2020
|
|
Historic Data
|
2018–2019
|
|
Forecast Period
|
2021–2028
|
|
Segmentation
|
Fuel Types (Hydropower, Thermal, Non-hydropower Renewables, and Others), Applications (Industrial, Commercial, and Residential)
|
|
Country
|
China
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Sinovel Wind Group Co; Xinjiang Goldwind Science Technology Co, Ltd.; Datang International Power Generation Company Ltd.; China National Electric Engineering Co. Ltd.; Sinohydro Corp.; Bharat Heavy Electricals Ltd.; Schneider Electric SE; Kirloskar Electric Co. Ltd.; and CG Power
|
Power Market Segment Insights
Non-hydropower renewables segment is projected to account for a large market share
Based on fuel types, the China power market is divided into hydropower, thermal, non-hydropower renewables, and others. The non-hydropower renewables segment is expected to constitute a key share of the market during the forecast period owing to it is considered to be more reliable than the other renewable sources and it also giver continuous power without any interference as well as non-weather dependent power. However, the thermal segment is anticipated to expand at a rapid pace during the forecast period due to its cost effectiveness, easy method, requires less space in comparison to others and it can be located anywhere near water as well as fuel supply.
Industrial segment is projected to hold a key market share
On the basis of applications, the market is segmented into industrial, commercial, and residential. The industrial segment is expected to represent a key share of the market in the coming years due to rising demand for sustainable, sufficient, and secure energy supply and high usage in various industries such as chemical, manufacturing, healthcare, food & beverages, and others.
On the other hand, the commercial & residential segment is anticipated to expand at a rapid pace during the forecast period owing to growing demand for power from various hotels, societies, and hospitals. Increasing inclination among the integration of various electrical distribution links in residential & commercial sector is projected to boost the market.
Segments
The China power market has been segmented on the basis of
Fuel Types
- Hydropower
- Thermal
- Non-hydropower Renewables
- Others
Applications
- Industrial
- Commercial
- Residential
Country
Key Players
- Sinovel Wind Group Co
- Xinjiang Goldwind Science Technology Co, Ltd.
- Datang International Power Generation Company Ltd.
- China National Electric Engineering Co. Ltd.
- Sinohydro Corp.
- Bharat Heavy Electricals Ltd.
- Schneider Electric SE
- Kirloskar Electric Co. Ltd.
- CG Power
Competitive Landscape
Key players competing in the China power market include Sinovel Wind Group Co; Xinjiang Goldwind Science Technology Co, Ltd.; Datang International Power Generation Company Ltd.; China National Electric Engineering Co. Ltd.; Sinohydro Corp.; Bharat Heavy Electricals Ltd.; Schneider Electric SE; Kirloskar Electric Co. Ltd.; and CG Power. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
