With swift economic growth and flourishing industrial sectors, China has been witnessing a continued increase in the electricity consumption over the past few years. Because of this surge in demand, China has witnessed significant development in its power sector, with renewable energy sources garnering the major attention. Although there has been substantial growth in electricity generation from RES such as nuclear, hydroelectricity and solar, wind power industry has emerged as the fastest growing segment of the industry.
According to our latest market research report “China Wind Sector Analysis”, the cumulative wind power installed capacity is forecast to grow at a CAGR of around 43% during 2010-2012. With this, the country’s share in total cumulative wind power installed capacity worldwide is expected to double by the end of 2012 from current levels.
China's national energy policy that strongly emphasizes on supporting clean energy development continues to drive growth in the country’s wind power sector, among others. Driven by this, despite economic crisis, China’s wind power industry enjoyed an investment spree in 2008, making it the largest global investment market for wind power.
Our research provides an in-depth analysis of the wind energy market in China. It gives an insight into the currently dominating market trends. Besides this, the factors that are fuelling the growth of the Chinese wind energy market have been discussed in detail, including the description of the key manufacturing companies in the country.
On the provincial/state level, we found that the top five provinces rich in wind resource - Inner Mongolia, Liaoning, Hebei, Jilin and Heilongjiang - accounted for more than 65% of the country’s cumulative installed wind power capacity in 2008. These states will continue dominating the Chinese wind market in future also. Besides this, our report highlights various priority areas that the government must focus on to ensure healthy growth of the wind power industry in coming times.