China Leads Smart Grid Market Through 2021, to Reach $1.43 Trillion: SBI Bulletin
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/11/12 -- Supported by a long-term stimulus plan, China is pursuing more development than any other country in the world. According to "," China will post the fastest compound annual growth rate (CAGR) of 6% through 2021, overtaking the U.S., which will post a 4% CAGR through the same period.
As the utility that serves 88% of the country, the State Grid Corporation of China (SGCC) is chiefly responsible for the deployment of Smart Grids technologies; in March 2011, it announced eleven types of Smart Grid pilot programs, which included sixty-seven smart substations, nineteen distribution automation systems and 50 million . SGCC also plans to invest $250 billion in upgrades through 2016, $45 billion earmarked for Smart Grid technologies, and an additional investment from 2016-2020.
"As the world's largest electricity consumer, China's need to improve its power grid is real," said Shelley Carr, publisher of SBI. "SGCC is building their own Smart Grid technologies and setting their own standards to become a leader in the market, but is currently challenged by more advanced products being offered by General Electric and IBM."
Since coal accounts for more than 70% of China's main energy source, it faces a danger from fluctuating prices; therefore, China has begun pursuing renewable energy. According to the report however, in order to effectively use renewable energy, China is developing throughout local areas, and is integrating them via a Smart Grid.
"" projects the size of the Smart Grid market worldwide through 2021, detailing the top ten countries where over 80% of purchasing activity is set to occur. It also breaks out components of the market by smart meters, information technology, communications & transmission systems, substations and microgrids.
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, , building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services. To learn more, visit .
Please direct all media inquiries to:
Shelley Carr
(717)552-8429
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Datum: 11.09.2012 - 15:03 Uhr
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