China Takes Smart Grid Lead

 

A new report by Zpryme projects the total value of China’s Smart Grid market will increase from $22.3 billion in 2011 to $61.4 billion in 2015. China: Rise of the Smart Grid, also reports that in 2010, China became the number one country in the world for energy consumption and total investment in clean energy. Zpryme CEO and Director of Research, Jason S. Rodriguez, says, “2011 will be the year China will take a commanding lead not only in clean energy investment (which already is twice the U.S.), but more specifically the Smart Grid. Led by companies such as GE, Siemens, and IBM, China will become the forever-hotbed for Smart Grid technologies, pilots, and overall investment.”

The report says the largest portion of China’s market is in Smart Grid transmission and distribution, which is projection will grow from $4.5 billion USD last year to $21.2 billion USD by 2015, an annual growth rate of 36.4 percent.  Zpryme also notes: “Because of China’s limited technological capabilities, providing IT and networking solutions to automate distribution and manage electricity demand is the best way for foreign firms to capitalize on China’s booming Smart Grid industry.”

China : Rise of the Smart Grid also projects that the software and hardware segment of China’s Smart Grid market will grow from $4.0 billion in 2010 to $13.0 billion in 2015, an annual growth rate of 26.4 percent. The report also finds that Chinese domestic firms serving the Smart Grid market will become increasingly competitive with their foreign counterparts; the Chinese government supports domestic and foreign Smart Grid manufacturers through subsidies, R&D funding, and lines of credit; and China has the advantage of building Smart Grid technology into transmission infrastructure from the outset.

To download a complete free report, visit Zpryme at www.smartgridresearch.org.