China renewable energy market

China Renewable Energy Market by Types (Hydro, Wind, Solar, and Others) and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: EP-1477
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 198
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The Chinese renewable energy market is expected to expand at a CAGR of more than 8% during the forecast period, 2021-2028. The growth of the market is attributed to increasing government initiatives to reduce the dependency on fossil fuel and to reduce carbon emissions. Moreover, increasing demand for clean energy is expected to propel the market growth.

 China is a prominent energy consumer in the world. The nation plans to reduce its carbon emission to 5150 million metric tons by 2035 and 2600 million metric tons by 2050. Moreover, the Government of China plans to increase the share of renewable energy to nearly 37% by 2035 and 58% by 2050 in its energy mix. The country is facing multiple challenges when it comes to energy generation owing to rising population and rapid urbanization.


China renewable energy market summary

The rapid increase in the energy generation coupled with the heavy reliance on coal and growing environmental problems such as air pollution are driving the market growth. In order to cope with the deteriorating environment while sustaining the economic growth, renewable energy has been gaining much more attention in the last decade than ever in China.

Renewable energy is clean and sustainable source of energy which does not reduces the natural resources owing to its abundant availability. Some of the examples of renewable energies are solar, wind, geothermal, and hydropower. Various companies are heavily investing in the development of renewable energy systems. Meanwhile, government state bodies incentives and policies are further spurring the market growth.

Market Drivers, Restraints, Trends, and Opportunities

  • Rising population and increasing demand for electricity in the country is expected to drive the growth of the market.
  • Increasing investment of state government bodies in the renewable energy market is anticipated to fuel the growth of the market during the forecast period.
  • Trade barriers and stringent regulations for foreign investors can impede the market growth.
  • Subsidy payment delays, increasing interference of state government bodies in the trading and pricing, and plans to increase coal-fired power generation can restrain the market growth.
  • The country’s objective of reducing CO2 levels and increasing renewable share in the energy mix is expected to create lucrative opportunities for the market in the projected timeline.

Scope of the Report

The report on the China renewable energy 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

China Renewable Energy Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2026

Segmentation

Types (Hydro, Wind, Solar, and Others)

Geographic Zone

China

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Sinohydro Corporation, China Yangtze Power Co. Ltd, Xinjiang Goldwind Science Technology Co. Ltd, JinkoSolar Holdings Co. Ltd, and Tina Solar Ltd.

 

China Renewable Energy Market Segment Insights

Solar segment to exhibit a high CAGR

Based on types, the market is segregated as hydro, wind, solar, and others. The solar segment accounted for a major market share and is anticipate to exhibit a high CAGR during the forecast period. The country has been following a largely subsidy-based model to encourage the adoption of the latest technology. The solar energy installed capacity in the country increased by 0.06%, to 81,053 megawatts (MW) in 2019 from 81,004 megawatts in 2018. Conversely, the hydropower segment is expected to grow at a steady rate during the forecast period.


China renewable energy market types

Segments

Segments Covered in the Report

Types

  • Hydro
  • Wind
  • Solar
  • Other Types

Country

  • China

Key players

  • Sinohydro Corporation
  • China Yangtze Power Co. Ltd
  • Xinjiang Goldwind Science Technology Co. Ltd
  • JinkoSolar Holdings Co. Ltd
  • Tina Solar Ltd.

Competitive Landscape

The China renewable energy market is highly fragmented. The key players in the market include Sinohydro Corporation, China Yangtze Power Co. Ltd, Xinjiang Goldwind Science Technology Co. Ltd, JinkoSolar Holdings Co. Ltd, and Tina Solar Ltd.

In October 2020, major wind power developers and turbine manufacturers signed a declaration at the China Wind Power 2020 conference in Beijing.  In the declaration, it asked China to reach 3,000GW of installed capacity as part of its drive to reach carbon neutrality by 2060.

In June 2020, Shanghai Electric installed China’s first 8MW offshore wind turbine The turbine features “black start” technology, which demonstrates that the company can now undertake bulk orders in the market for 8MW offshore wind turbines. The company also disclosed its plan to explore further solutions in the renewable energy market. It is focusing on increasing its product portfolio by introducing renewable energy-based integrated energy systems, combining wind, solar power, and energy storage systems, coupled with industrial Internet of things (IoT).

China renewable energy market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. renewable energy Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. renewable energy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. renewable energy Market - Supply Chain
  4.5. Global renewable energy Market Forecast
     4.5.1. renewable energy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. renewable energy Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. renewable energy Market Absolute $ Opportunity
5. Global renewable energy Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. renewable energy Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global renewable energy Demand Share Forecast, 2019-2026
6. North America renewable energy Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America renewable energy Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America renewable energy Demand Share Forecast, 2019-2026
7. Latin America renewable energy Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America renewable energy Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America renewable energy Demand Share Forecast, 2019-2026
8. Europe renewable energy Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe renewable energy Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe renewable energy Demand Share Forecast, 2019-2026
9. Asia Pacific renewable energy Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific renewable energy Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific renewable energy Demand Share Forecast, 2019-2026
10. Middle East & Africa renewable energy Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa renewable energy Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa renewable energy Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global renewable energy Market: Market Share Analysis
  11.2. renewable energy Distributors and Customers
  11.3. renewable energy Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Sinohydro Corporation
     11.4.2. China Yangtze Power Co. Ltd
     11.4.3. Xinjiang Goldwind Science Technology Co. Ltd
     11.4.4. JinkoSolar Holdings Co. Ltd
     11.4.5. Tina Solar Ltd.

Segments Covered in the Report

Types

  • Hydro
  • Wind
  • Solar
  • Other Types

Country

  • China

Key players

  • Sinohydro Corporation
  • China Yangtze Power Co. Ltd
  • Xinjiang Goldwind Science Technology Co. Ltd
  • JinkoSolar Holdings Co. Ltd
  • Tina Solar Ltd.

The China renewable energy market is highly fragmented. The key players in the market include Sinohydro Corporation, China Yangtze Power Co. Ltd, Xinjiang Goldwind Science Technology Co. Ltd, JinkoSolar Holdings Co. Ltd, and Tina Solar Ltd.

In October 2020, major wind power developers and turbine manufacturers signed a declaration at the China Wind Power 2020 conference in Beijing.  In the declaration, it asked China to reach 3,000GW of installed capacity as part of its drive to reach carbon neutrality by 2060.

In June 2020, Shanghai Electric installed China’s first 8MW offshore wind turbine The turbine features “black start” technology, which demonstrates that the company can now undertake bulk orders in the market for 8MW offshore wind turbines. The company also disclosed its plan to explore further solutions in the renewable energy market. It is focusing on increasing its product portfolio by introducing renewable energy-based integrated energy systems, combining wind, solar power, and energy storage systems, coupled with industrial Internet of things (IoT).

China renewable energy market keyplayers

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