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Power Grid Construction in China Industry Data and Analysis
The Power Grid Construction industry in China has been growing rapidly, driven by China's urbanization, increases in power demand, rapid development of alternative energy, and increasing government investment. Over the past five years to 2024, industry revenue is expected to grow at an annualized 11.8% to $227.0 billion in 2024, including 5.8% growth in 2024.Accelerating urbanization in China has enhanced the investment and improvement of urban infrastructure, especially for power infrastructure. Since 2014, the State Council has explicitly designated the construction of new urbanization as a strategic task. From 2014 to 2023, the urbanization rate in China has increased from 55.8% to 66.2%, and will further grow to 66.5% in 2024. Increasing urbanization in China has promoted the supporting development of power engineering construction.Electricity can be easily converted into other forms of energy and is suitable for long-distance transmission, making it increasingly the main energy source supporting social and economic activities. China's electricity demand has maintained a high growth due to the rapid development of the national economy. The total electricity consumption in China has increased from 7,225.5 billion kilowatt hours in 2019 to an estimated 9,773.7 billion kilowatt hours in 2024, with an average rate of 6.2%. The continuous increases in power demand in China has supported the revenue growth of the industry.The Chinese Government has strongly encouraged the development of alternative energy in China to save energy and reduce emission. More power generation construction investment has been shifted to wind and solar power. In 2023, investments in wind and solar power jointly represented 67.8% of total power generation investment in China, significantly higher than the 43.5% in 2019.China's economy will shift from a “high-speed development stage” to a “high-quality development stage” in the future, the rapid development of emerging industries will continue to promote the growth of electricity demand, which will stimulate the demand for power engineering construction and support future industry growth. Over the next five years, the industry is forecast to grow at an annualized 5.0%, to total $290.2 billion in 2029.
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What's included in this industry analysis
IBISWorld's research coverage on the Power Grid Construction industry in China includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released May 2025.
About this industry
What's this industry report about?
The Power Grid Construction industry in China operates under the industry code 4725. The Power Grid Construction industry in China constructs power infrastructure related to the production, transmission and distribution. Detailed works in the industry include the construction of pylons, wire poles, power stations, converting stations, substations, etc. Pre-construction preparatory activities, like survey and design services, are not included in the industry. Related terms covered in the Power Grid Construction industry in China include smart power grid, ultra-high voltage power grid and electricity transmission from west to east china.
What's included in this industry?
Products and services covered in Power Grid Construction industry in China include Power grid construction and Power generation construction.
What companies are included in this industry?
Companies covered in the Power Grid Construction industry in China include Power Construction Corporation of China, Ltd., China Energy Engineering Corporation Limited and China Nuclear Engineering & Construction Corporation Limited.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Power Grid Construction industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Power Grid Construction industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Power Grid Construction industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Power Grid Construction industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Power Grid Construction industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Power Grid Construction industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Power Grid Construction industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Power Grid Construction industry in China.
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Frequently Asked Questions
What is the market size of the Power Grid Construction industry in China in 2026?
The market size of the Power Grid Construction industry in China is $227.0bn in 2026.
How many businesses are there in the Power Grid Construction industry in China in 2025?
There are 1,210 businesses in the Power Grid Construction industry in China, which has grown at a CAGR of 2.0 % between 2020 and 2025.
How may import tariffs affect the Power Grid Construction industry in China?
The Power Grid Construction industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Power Grid Construction industry in China?
The Power Grid Construction industry in China is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Power Grid Construction industry in China grown or declined over the past 5 years?
The market size of the Power Grid Construction industry in China has been growing at a CAGR of 11.8 % between 2020 and 2025.
What is the forecast growth of the Power Grid Construction industry in China over the next 5 years?
Over the next five years, the Power Grid Construction industry in China is expected to grow.
What are the biggest companies in the Power Grid Construction industry in China?
The biggest companies operating in the Power Grid Construction industry in China are Power Construction Corporation of China, Ltd., China Energy Engineering Corporation Limited and China Nuclear Engineering & Construction Corporation Limited
What does the Power Grid Construction industry in China include?
Power grid construction and Power generation construction are part of the Power Grid Construction industry in China.
Which companies have the highest market share in the Power Grid Construction industry in China?
The company holding the most market share in the Power Grid Construction industry in China is Power Construction Corporation of China, Ltd..
How competitive is the Power Grid Construction industry in China?
The level of competition is moderate and increasing in the Power Grid Construction industry in China.
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