DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/d6e1f4/growth_opportuniti) has announced the addition of the "Growth Opportunities in Chinese Wind Energy Market 2011-2016: Trends, Forecast and Opportunity Analysis" report to their offering.
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.
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.
Chinese wind industry is active from last 20 years but it has a long history in itself. In last few years it has shown a good growth, before 5 years it was around 1.2 GW but now it has reached around 44.7 GW. It is growing at a high pace of around 104%. Wind energy in China has grown at a CAGR of 104% in the last 5 years (2005-2010) on cumulative installation basis and reached 44,734 MW in 2010. The market is expected to grow with a CAGR of 19% for the next five years (2011-2016) on cumulative MW installations. Various factors will drive growth of the wind industry.
Companies Mentioned:
- Sinovel Wind Group Co., Ltd
- Xinjiang Goldwind Science & Technology Co., Ltd.
- Dongfang Electric
For more information visit http://www.researchandmarkets.com/research/d6e1f4/growth_opportuniti