Smart Grid Revenue in China Will Surpass $15 Billion a Year by 2020, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- China is in the midst of its latest national development strategy, better known as the 12th Five-Year Guideline, which will continue through 2015. One of the Guideline's primary goals is "strengthening the construction of [the] smart grid." With the support of the government-owned State Grid Corporation of China, as well as many provinces and cities, this effort is rapidly progressing. According to a recent report from Navigant Research, annual revenue from smart grid deployments in China will reach $15.4 billion by 2020.
"The area of strongest smart grid growth in China will be transmission upgrades, anticipated to reach more than $72 billion in revenue by 2020 on a cumulative basis," says Bob Lockhart, senior research analyst with Navigant Research. "Overall, smart grid development in China will generate $127 billion in cumulative revenue from 2012 to 2020."
One primary objective of smart grid planners in China, according to the report, is to help address the country's imbalanced energy supply. Coal remains the primary source of power generation, and 76 percent of China's coal resources are located in Shanxi, Inner Mongolia, Shaanxi, Xinjiang, and other northern and western regions. However, the country's energy consumption needs are mainly concentrated in the more industrialized economies in the eastern and southern regions.
The report, "Smart Grid in China", provides a comprehensive analysis of the relevant issues of China's smart grid deployment program. The report includes a detailed analysis of the market drivers, business models and technology issues for smart grid development in China. Profiles are provided for more than 40 key industry players, classified by different industries, along with forecasts for smart grid revenue and smart meter shipments through 2020. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
*The information contained in this press release concerning the report, "Smart Grid in China," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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