The swift pace of wind energy holds huge opportunities for several stakeholders in China. China outpaced the United States and appeared as the largest market for wind energy capacity in 2010. China has around 44.7 GW of installed wind energy capacity and plans to reach 230 GW by year 2020.
Lucintel has examined the Chinese wind power market and makes its result available through a complete research report, “Growth Opportunities in Chinese Wind Energy Market 2011-2016.” China’s wind power market has grown swiftly during the past 5 years and is anticipated to reach 158 GW by year 2016 with a CAGR of 20 percent over the upcoming 5 years. Several factors are anticipated to drive the wind power market in China. Government support and generation-based inducements for renewable energy sources, increasing electricity demand, and Clean Development Mechanism support from the UN all are anticipated to increase China’s wind market.
Wind turbine blades are typically made of composites because of an outstanding mechanical properties and simplicity of designing. Composites utilization in the Chinese wind market was roughly around 488mn pounds in year 2010. Lucintel guesstimates that composites utilization will reach 542mn pounds by year 2016. The wind MRO market directly follows the growth of the wind power market. China’s market for MRO services was an estimated $683mn in year 2010. According to Lucintel’s analysis, it dogged that the increasing popularity of wind energy and bigger turbine sizes will drive the future cost of MRO services.
This Lucintel research report gives insights about recent industry trends, and future threats and opportunities. In addition, the report tackles the market share of key players, composites utilization, supply chain analysis and MRO activities in China’s wind power market.