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Chinese Power Grid Market
Frost & Sullivan, Aug 2009, Pages: 64
Energy is the significant basic resource for the development of human society. In order to prevent a global catastrophic change in climate and irreversible damage to human society, it is necessary to encourage the use of renewable energies. However, the current traditional power grid system is not able to satisfy these requirements. Compared with the traditional power grid, the smart grid is able to provide real-time analysis, diagnosis, and optimization of the power grid operation and management, which is consequently able to provide a comprehensive and detailed power grid decision-making support.
This Frost & Sullivan research service titled Chinese Power Grid Market provides the overall market growth, revenue analysis, market share analysis, competitive structure, industry challenges, market drivers, market restraints, and pricing trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the traditional power grid, smart grid, and transformer markets.
Market Overview
Strong Demand for Power Accelerates Tempo of Growth in the Chinese Power Grid Market
Since the opening-up of the Chinese economy in 1979, the country has been developing at a rapid pace, and this sustained momentum has continued steadily up until now. Power is a significant strategic resource in China, which is vital to national economic growth. From 2004 to 2007, the national power installed capacity increased with an average annual growth rate of 16.4 percent. During 2008, the Chinese economy was burgeoning with the gross domestic product (GDP) touching 9 percent. This triggered an increase in the demand for production materials and energy. 'High-speed urbanization and industrialization are likely to provide momentum to growth in major power consumption industries, including the steel, building, metallurgical, and chemical industries, which in turn will lead to a demand upswing for power,' notes the analyst of this research service. 'At the end of 2008, the Chinese total power installed capacity had reached 790,630 MW with the annual average growth rate of 9.7 percent during the 30-year period.' Moreover, the total power generation had reached 34,268.0 billion kWh, which indicated an average annual growth rate of 7.2 percent within the past 3 decades.
Economic growth resulted in the expansion of urban areas, making it increasingly difficult to identify the appropriate areas as substation sites and transmission corridors. Power grid construction inevitably involves the issue of land requisition and demolition, which, in both rural and urban areas, is usually related to the interests of a variety of parties. As a result, matters in the construction process were further complicated. In China, the main source of capital is derived from the State, electricity fees, loans, and other financing channels. Currently, power grid corporations are confronted with the issue of lack of capital for power grid construction, particularly after the imposition of on-grid tariffs. This requires power grid corporations to pay more to power plants. Moreover, the increased high costs of land acquisition and demolition have led power grid companies to operate in a high-liability environment.
Since the fourth quarter of 2008, the Chinese Government has been unleashing a series of economic stimulus plans to deal with the global financial meltdown. This includes substantial investments in power grid. Traditional grid designs have evolved through economies of scale in large, centralized power generation areas, such as those located near coalfields or hydro resources. Nowadays, power grids are predominantly based on large central power stations connected to high-voltage transmission systems, which, in turn, supply power to the medium- and low-voltage local distribution systems. The power grid transmission and distribution systems are monopolized and managed by national enterprises. In contrast, the power generation sectors are highly competitive. 'Future models for the power grids have to satisfy the evolving trends in technology, the values of society, the environment and the commercial field,' says the analyst. 'Therefore, security, safety, environment, power quality, energy efficiency, and cost of supply are all being examined in new ways.' In addition, new technologies are likely to demonstrate reliability, sustainability, and cost effectiveness in response to the changing requirements. Smart grids are considered to be the ideal solutions to address the aforementioned requirements, and they are growing in popularity in different countries across the world.
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