There are several factors that could drive the wind ePower market in China. Government support and incentives based on generation of renewable energy resources, the growing demand for electricity, and support Clean Development Mechanism of the United Nations all expected to boost the Chinese market for wind.
China overtook the U.S. and has emerged as the largest market for capacity of wind power in 2010. China has around 44.7 GW of installed capacity of wind farms and aims to achieve 230 GW by 2020.
Wind Turbine blades are made primarily of composite materials, due to excellent automatic properties and simplicity of design. The use of composite materials in the Chinese wind market was near about £ 488 million in 2010. Lucintel estimated that the consumption of composite materials is the desire to reach £ 542 million in 2016. The MRO wind market closely pursues the growth of wind energy industry. The Chinese market for MRO services is estimated at $ 683 million in 2010.
Chinese wind market is active for twenty years, but has a long times in itself. In recent years has shown a fine growth prior to age five years about 1.2 GW, but has now reached about 44.7 GW. It is growing at a rapid rate of about 104%. Wind power in China has rose at a CAGR of 104% over the past 5 years (2005-2010) on the basis of cumulative installation and reached 44,734 MW in 2010. The market is projected to grow at a CAGR of 19% over the next 5 years (2011-2016) on the premises MW. Several factors will drive development of the wind energy market.