China Wind Energy Market

China Wind Energy Market by Locations (Offshore and Onshore), Components (Support Structure, Electrical Infrastructure, Turbine, and Others), Applications (Commercial, Residential, Utility, and Industrial), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: EP-3966
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 187
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  • Pub. Date: Upcoming
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The China wind energy market size is expected to expand at a CAGR of 11.8% during the forecast period, 2021–2028. The growth of the market is attributed to rise in environmental consciousness.


China Wind Energy Market summary

Wind energy, also known as wind power, refers to types of producing electricity by converting the wind resource into mechanical power. In general, the development of wind energy is primarily proceeded using the wind mills, which are usually placed or installed in high mountains or in sea. The wind energy sector has ability to produce wide range of renewable power and several projects for generating electricity from wind mills are currently going on. Moreover, the Yangjiang Shapa Phase 2 offshore wind farm was commissioned by China Three Gorges Corporation (CTG) in November 2021. The project is located in Guangdong Province and has a 400 MW installed capacity. It will supply power to the Greater Bay Area of Guangdong, Hong Kong, and Macao, and is estimated to generate roughly 1.088 TWh per year. Despite the fact that the COVID-19 originated in China, the pandemic had a mild effect on the wind energy market. Despite the worldwide pandemic, China set a new record by adding half of the new global offshore wind capacity, i.e., 6.012 GW, in 2020.

Market Trends, Drivers, Restraints, and Opportunities

  • Government restrictions and the lowering cost per kilowatt of power provided by renewable energy providers in China is a key factor driving the market.
  • Increase in the number of wind energy projects in the country is likely to propel the market expansion during the forecast period.
  • Favorable geographical landscape connecting sea and mountain terrains present key aspects for the market growth.
  • High initial cost of establishing wind energy facilities can hamper the market expansion in the coming years.
  • Upcoming projects in the offshore wind energy industry are likely to create lucrative opportunities for the market growth during the forecast period.

Scope of the Report

The report on the China wind 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

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

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Locations (Offshore and Onshore), Components (Support Structure, Electrical Infrastructure, Turbine, and Others), and Applications (Commercial, Residential, Utility, and Industrial)

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

ENVISION GROUP; Shanghai Electric; Dongfang Electric Corporation; Mingyang Smart Energy Group Limited; and Xinjiang Goldwind Science & Technology Co. Ltd

Market Segment Insights

Offshore segment to expand at a considerable CAGR

On the basis of locations, the china wind energy market is bifurcated into offshore and onshore. The offshore segment is projected to expand at a considerable CAGR during the forecast period owing to country features a large number of coastal areas. On the other hand, the onshore segment is anticipated to account for a major market share during the forecast period due to the substantial capital expenditure necessary for wind farms and the large investment required in the industry. 

Turbine segment to grow at a high rate during the forecast period

In terms of components, the market is divided into support structure, electrical infrastructure, turbine, and others. The turbine segment is expected to grow at a high rate during the projected period owing to the availability of raw materials, upgrading turbine technology, and decreasing operational costs. Furthermore, turbine manufacturers are increasing their R&D investments in order to improve turbine efficiency and minimize noise pollution, which further pushes the segment growth.

Utility segment to hold a significant share of the market

Based on applications, the China wind energy market is segregated into commercial, residential, utility, and industrial. The utility segment is expected to hold a significant share of the market in the coming years. Utility-scale wind generating projects need a plethora of land, building, and other permissions such as the careful management of relationships with many stakeholders. Such scale wind turbines are often founded in huge and multi-turbine wind farms that are linked to the country's transmission infrastructure. However, the commercial segment is projected to account for significant market share in the coming years due to the existing challenges in using a wind turbine leading to a shortage of land and high cost associated with them.


China Wind Energy Market applications

Segments

Segments Covered in the Report
The China wind energy market has been segmented on the basis of
Locations

  • Offshore
  • Onshore

Components

  • Support Structure
  • Electrical Infrastructure
  • Turbine
  • Others

Applications

  • Commercial
  • Residential
  • Utility
  • Industrial

Country

  • China

Key Players

  • ENVISION GROUP
  • Shanghai Electric
  • Dongfang Electric Corporation
  • Mingyang Smart Energy Group Limited
  • Xinjiang Goldwind Science & Technology Co. Ltd

 

Competitive Landscape

Key players competing in the China wind energy market are ENVISION GROUP; Shanghai Electric; Dongfang Electric Corporation; Mingyang Smart Energy Group Limited; and Xinjiang Goldwind Science & Technology Co. Ltd. Leading wind energy producers and turbine manufacturers have planned for China to attain 3,000 GW of installed capacity by 2060 as part of its goal to become carbon-neutral. At the China Wind Power 2020 conference in Beijing, more than 400 firms signed the statement, which laid out a plan for steadily increasing wind power capacity.

China Wind Energy Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wind 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. Wind Energy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Wind Energy Market - Supply Chain
  4.5. Global Wind Energy Market Forecast
     4.5.1. Wind Energy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Wind Energy Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Wind Energy Market Absolute $ Opportunity
5. Global Wind 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. Wind 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 Wind Energy Demand Share Forecast, 2019-2026
6. North America Wind 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 Wind 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 Wind Energy Demand Share Forecast, 2019-2026
7. Latin America Wind 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 Wind 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 Wind Energy Demand Share Forecast, 2019-2026
8. Europe Wind 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 Wind 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 Wind Energy Demand Share Forecast, 2019-2026
9. Asia Pacific Wind 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 Wind 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 Wind Energy Demand Share Forecast, 2019-2026
10. Middle East & Africa Wind 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 Wind 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 Wind Energy Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Wind Energy Market: Market Share Analysis
  11.2. Wind Energy Distributors and Customers
  11.3. Wind Energy Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. ENVISION GROUP
     11.4.2. Shanghai Electric
     11.4.3. Dongfang Electric Corporation
     11.4.4. Mingyang Smart Energy Group Limited
     11.4.5. Xinjiang Goldwind Science & Technology Co. Ltd

Segments Covered in the Report
The China wind energy market has been segmented on the basis of
Locations

  • Offshore
  • Onshore

Components

  • Support Structure
  • Electrical Infrastructure
  • Turbine
  • Others

Applications

  • Commercial
  • Residential
  • Utility
  • Industrial

Country

  • China

Key Players

  • ENVISION GROUP
  • Shanghai Electric
  • Dongfang Electric Corporation
  • Mingyang Smart Energy Group Limited
  • Xinjiang Goldwind Science & Technology Co. Ltd

 

Key players competing in the China wind energy market are ENVISION GROUP; Shanghai Electric; Dongfang Electric Corporation; Mingyang Smart Energy Group Limited; and Xinjiang Goldwind Science & Technology Co. Ltd. Leading wind energy producers and turbine manufacturers have planned for China to attain 3,000 GW of installed capacity by 2060 as part of its goal to become carbon-neutral. At the China Wind Power 2020 conference in Beijing, more than 400 firms signed the statement, which laid out a plan for steadily increasing wind power capacity.

China Wind Energy Market keyplayers

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