Jan 28 2010
Reportlinker.com announced that it has added a new market research report titled “Wind Turbines in China” to its catalogue.
In China, the demand for wind turbine systems is estimated to increase by 5.3% per year through 2013 with a total market value of 62.3 billion yen. Among the key drivers for wind turbine growth include government policies, which advance the use of nonpolluting and renewable sources such as wind for producing power. Incentives provided in such policies include subsidies, tax incentives, and favorable pricing of wind power that is produced from wind farms. The forecast of growth through 2013 is impressive though modest by China’s standards. The demand for wind turbines in 2003 was less than 1 billion yen and it has significantly increased to more than 8 billion yen in 2008. This exponential growth was due to investments from state-owned enterprises not for profit motives but for political motives to meet renewable energy targets.
The demand through 2013 will be predominantly for utility scale wind power generation applications. Two reasons are attributed to this dominant growth in the utility scale applications. The first reason is the government’s policy to encourage utilities to generate energy through renewable sources and the second reason is the turbine manufacturers’ effort to develop much bigger wind turbines with greater efficiencies for utility-scale generation. A renewable energy target was established by the national government that aims to generate 15% of total energy generated from renewable sources by the year 2020. In the distributed wind turbine market also, China is one of the largest markets in the world.
The Central-North region accounted for 47% of the total national demand in 2008, making it the largest regional market in China for wind turbine systems. The second largest region is the Northeast region accounted for 26% and rest of China accounted for only 27%. This report provides a comprehensive analysis of the wind turbine market in China.
Source: http://www.reportlinker.com