China Smart Grid Market To HIt $61B by 2015
The total value of China’s Smart Grid market is expected to rise fromUS$22.3 billion in 2011 to US$61.4 billion in 2015, according to a newmarket report.
In 2010, China ranked number one for the first time in the world forenergy consumption and total investment in clean energy. The countrywill hold that ranking for at least the next five years, according toanalyst firm Zpryme.
“2011 will be the year China will take a commanding lead not only inclean energy investment (which already is twice the U.S.), but morespecifically the Smart Grid. Led by companies such as GE (NYSE: GE),Siemens (NYSE: SI), and IBM (NYSE: IBM), China will become theforever-hotbed for Smart Grid technologies, pilots, and overallinvestment" says Zpryme CEO and Director of Research Jason S. Rodriguez.
The largest portion of China’s market is in Smart Grid T&D, whichZpryme projects will grow from US$4.5 billion in 2010 to US$21.2 billion by 2015, an annual growth rate of 36.4%.
Because of China’s limited technological capabilities, providing IT andnetworking solutions to automate distribution and manage electricitydemand is the best way for foreign firms to capitalize on China’sbooming Smart Grid industry. Zpryme projects that the software andhardware segment of China’s Smart Grid market will grow from US$4.0billion in 2010 to US$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 expandtheir footprint beyond their nation’s borders as their technologies andservices will become increasingly competitive with their foreigncounterparts.
- 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 hasthe advantage of building Smart Grid technology into transmissioninfrastructure from the outset–essentially a clean slate.
Zpryme’s report, "China: Rise of the Smart Grid", assesses the currentChina market landscape in China while examining the major players,trends, and drivers motivating this high-growth space.
Earlier this month, smart meter company Landis+Gyr won a contract to supply the first phase of a smart-grid deployment in China.
Online since 1996, we provide global news and networking services to help green business grow. We cover all green business sectors including renewable energy, green building and green investing. Services include: Daily Green Business and Green Investor News; our leading green jobs service, Green Dream Jobs, a hands-on green investing newsletter, Progressive Investor; and networking services for green businesses that seek capital and partners.
Search 26k+ Solar Articles
- The Solar Vineyard House by Michael Jantzen
- Report: Solar PV Market to Recover by 2015
- Green Design Standards and the Construction Industry
- Converting Waste Heat Into Electricity Through Osmosis
- The Solar Canals of India
- In Focus: Sustainable Base
- New CPV Efficiency Record for Amonix
- Toyota Prius to be Replaced?
- Securitization and Renewable Energy
- The All-Electric Fiat 500e
- The Energy Supercomputer
- A Breakthrough or Just Another PV Module?