China Smart Grid market to hit $61B by 2015
The total value of China’s Smart Grid market is expected to rise from $22.3 billion in 2011 to $61.4 billion in 2015, according to a new market report.
Source: SustainableBusiness.com
The total value of China’s Smart Grid market is expected to rise from $22.3 billion in 2011 to $61.4 billion in 2015, according to a new market report.
In 2010, China ranked number one for the first time in the world for energy consumption and total investment in clean energy. The country will hold that ranking for at least the next five years, according to analyst firm Zpryme.
The largest portion of China’s market is in Smart Grid T+D, which Zpryme projects will grow from $4.5 billion in 2010 to $21.2 billion by 2015, an annual growth rate of 36.4%.
Because of China’s limited technological capabilities, providing IT and networking solutions to automate distribution and manage electricity demand is the best way for foreign firms to capitalize on China’s booming Smart Grid industry. Zpryme projects that the software and hardware segment of China’s Smart Grid market will grow from $4.0 billion in 2010 to $13.0 billion USD in 2015, an annual growth rate of 26.4%.
Other findings from the report:
- Chinese domestic firms serving the Smart Grid market will expand their footprint beyond their nation’s borders as their technologies and services will become increasingly competitive with their foreign counterparts.
- The Chinese government totally supports the efforts of domestic and foreign Smart Grid and clean energy manufacturers through subsidies, R+D funding, and major lines of credit (domestic).
- While utilities in the U.S. are updating infrastructure, China has the advantage of building Smart Grid technology into transmission infrastructure from the outset--essentially a clean slate.
Zpryme’s report, "China: Rise of the Smart Grid", assesses the current China market landscape in China while examining the major players, trends, and drivers motivating this high-growth space.
- Edited by Amanda McLeman, Consulting-Specifying Engineer, www.csemag.com
- Related News:
China’s Smart Grid pilot underway - 04.03.2011 11:38- Large spending surge in smart technologies predicted - 20.02.2011 12:05
- NYS Smart Grid Consortium names Executive Director - 17.02.2011 12:59
Integrator Guide
| Search the online Automation Integrator Guide |
|
|
|
|
Visit the System Integrators page to view past winners of Control Engineering's System Integrator of the Year Award and learn how to enter the competition. You will also find more information on system integrators and Control System Integrators Association.
Case Study Database
Get more exposure for your case study by uploading it to the Control Engineering case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.
These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.
Click here to visit the Case Study Database and upload your case study.