China’s wind energy market has grown rapidly during the last five years and is expected to reach 158 GW by 2016 with a CAGR of 20% over the next five years. Various factors are expected to drive the wind energy market in China. Government backing and generation-based incentives for renewable energy sources, rising electricity demand, and Clean Development Mechanism support from the UN all are expected to boost China’s wind market.
Lucintel, a leading global management consulting and market research firm, has analyzed the Chinese wind energy market and makes its findings available through a comprehensive research report, ‘Growth Opportunities in Chinese Wind Energy Market 2011-2016’.
The rapid pace of wind energy holds immense opportunities for various stakeholders in China. China outpaced the US and emerged as the biggest market for wind power capacity in 2010. China has approximately 44.7 GW of installed wind power capacity and intends to reach 230 GW by 2020.
Wind turbine blades are mostly made of composites because of the excellent mechanical properties and ease of designing. Composites consumption in the Chinese wind market was approximately 488 million pounds in 2010. Lucintel estimates that composites consumption is will reach 542 million pounds by 2016.
The wind MRO market closely follows the growth of the wind energy market. China’s market for MRO services was an estimated $683 million in 2010. Based on Lucintel’s analysis, it determined that the rising popularity of wind energy (increases in installation and operational costs) and larger turbine sizes (specific MRO techniques needed) will drive the future cost of MRO services.
This Lucintel research report provides insights regarding recent industry trends, and future opportunities and threats. In addition, the report addresses the market share of major players, supply chain analysis, composites consumption, and MRO activities in China’s wind energy market.
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