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Wind Power in China Industry Data and Analysis
Revenue for the Wind Power industry in China is expected to grow at an annualized 14.0% over the five years through 2024, to total $66.8 billion. This trend includes expected growth of 10.0% in 2024. The profit is anticipated to reach 27.4% in 2024. Wind power generation firms have been consistently increasing installed capacity over the period, and an over-supply of wind turbines is supporting further industry expansion.The industry is heavily reliant on wind turbines and only few employees are required to work onsite. The industry has over 93,800 employees, with a payroll of $1.5 billion in 2024. Despite rising wage levels in China, wages are expected to account for only 2.2% share of industry revenue in 2024.Integrating wind turbines into local electric grids will continue to be a challenge for the industry. The national standard for on-grid wind turbines came into force in November 2011 to address the bottleneck of the industry. However, despite the industry using standardized on-grids, large amounts of electric power are discarded due to the limited transmission capacity of the grid.Under the guidance of several policies like the Notice on Establishing Monitoring and Early Warning Mechanism to Promote the Sustainable and Healthy Development of the Wind Power Industry and the Clean Energy Consumption Action Plan (2018-2020), the wind abandonment rate has continued to decrease and wind power consumption has continued to improve. The wind abandonment rate in China decreased from 17.0% in 2016 to 2.7% in 2023.About 1,765 wind power enterprises are expected to operate in the industry in 2024, up 5.0% from 2023. However, growth in enterprise numbers is forecast to slow to 2.2% over the five years through 2028, due to stricter regulations. In 2011, the Energy Department enforced new regulations requiring the approval of new wind power projects by the National Energy Bureau. Additionally, projects in regions where over 20% electricity generated by wind power must be discarded due to limited transmission capacity will no longer be approved.With strong government support for alternative energy generation, the Wind Power industry in China is forecast to perform well over the next five years. Overall, industry revenue is forecast to increase at an annualized 7.0% over the five years through 2029, to total $93.7 billion.
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What's included in this industry analysis
IBISWorld's research coverage on the Wind Power industry in China includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released November 2024.
About this industry
What's this industry report about?
The Wind Power industry in China operates under the industry code 4419a. The Wind Power industry in China operates wind farms and generates electricity through harnessing natural wind on land and at sea. As a clean and renewable energy source, wind power is playing an increasingly significant role in power generation, ranking after thermal power, hydroelectric power and nuclear power. Related terms covered in the Wind Power industry in China include on-grid price, installed capacity, megawatt (mw) and wind turbine.
What's included in this industry?
Products and services covered in Wind Power industry in China include Onshore wind power generation and Offshore wind power generation.
What companies are included in this industry?
Companies covered in the Wind Power industry in China include State Power Investment Corporation, China Huaneng Group Co., Ltd. and China Energy Investment Corporation.
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 Wind Power 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 Wind Power 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 Wind Power 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 Wind Power 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 Wind Power 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 Wind Power 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 Wind Power 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 Wind Power industry in China.
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Frequently Asked Questions
What is the market size of the Wind Power industry in China in 2026?
The market size of the Wind Power industry in China is $66.8bn in 2026.
How many businesses are there in the Wind Power industry in China in 2024?
There are 1,765 businesses in the Wind Power industry in China, which has grown at a CAGR of 8.5 % between 2019 and 2024.
How may import tariffs affect the Wind Power industry in China?
The Wind Power 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 Wind Power industry in China?
The Wind Power industry in China is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Wind Power industry in China grown or declined over the past 5 years?
The market size of the Wind Power industry in China has been growing at a CAGR of 14.0 % between 2019 and 2024.
What is the forecast growth of the Wind Power industry in China over the next 5 years?
Over the next five years, the Wind Power industry in China is expected to grow.
What are the biggest companies in the Wind Power industry in China?
The biggest companies operating in the Wind Power industry in China are State Power Investment Corporation, China Huaneng Group Co., Ltd. and China Energy Investment Corporation
What does the Wind Power industry in China include?
Offshore wind power generation and Onshore wind power generation are part of the Wind Power industry in China.
Which companies have the highest market share in the Wind Power industry in China?
The company holding the most market share in the Wind Power industry in China is State Power Investment Corporation.
How competitive is the Wind Power industry in China?
The level of competition is moderate and increasing in the Wind Power industry in China.
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