China Power Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Chinese power market is expected to register a CAGR of more than 4% during the forecast period of 2022 - 2027. The COVID-19 outbreak in Q1 of 2020 had led to the decline of national energy demand by more than 4 % compared to 2019 and delayed project executions across the country. Factors, such as the increasing upcoming investments, and the growing manufacturing sector, are likely to drive the Chinese power market during the forecast period. However, phasing out of coal-based power plants, which account for a major share of power generation in China, is expected to hinder the growth of the power market.
Key HighlightsThe Chinese power market is fragmented. The key players in the market include Datang International Power Generation Company Limited, China National Electric Engineering Co. Ltd, Xinjiang Goldwind Science & Technology Co. Ltd, Sinohydro Corporation, and Sinovel Wind Group Co. Ltd, among others.
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