2014-03-26 08:40:02 - Smart Grid Market in China 2012-2016 - a new market research report on companiesandmarkets.com
The China Smart Grid market is to grow at a CAGR of 28.30 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need for grid connecting and management systems. The Smart Grid market in China has also been witnessing the increasing environmental concern. However, the increased exposure to cyber attack could pose a challenge to the growth of this market.
In recent years, the steadily growing population, higher living standards, and rapid industrialization have had a negative impact on the environment and the ecosystem. Consequently, the Chinese government has increased its focus on environmental issues such as GHG emissions and global warming. One of the major trends being witnessed in the Smart
Grid market in China is the initiatives being taken by the government to reduce GHG. China has identified fossil fuel-based power generation as one of the major sources of GHG and has therefore induced various power plants to take steps to reduce these emissions. It has also shifted its focus to cleaner energy generation technologies. Consequently, an increase in investments in clean and RE power generation will boost the growth of the market since the RE sector is an integral part of the Smart Grid market in China.
One of the major drivers in this market is the increasing need for grid connection and management systems. In line with the Chinese government´s plans, the SGCC and CSG are initiating steps to develop smart grids in China. The smart grid initiative of the SGCC, which commenced in 2011, will continue till 2020.
One of the major challenges in this market is the high susceptibility of smart grids to cyber attacks. The software used in smart grids is highly susceptible to the threat of virus attacks and mishandling by engineers or operators. The main information control system in smart grids is exposed to security threats because of the regular usage of the internet and access through points for electrical and communication lines.
The key vendors dominating this market space are ABB Group, Alstom SA, GE Energy, and Schneider Electric Co.
Other vendors are Accenture Inc., BPL Global, Cisco Systems Inc., China Singyes Solar Technologies Holding Ltd., Duke Energy, Echelon Corp., Freescale Semiconductor Inc., Holley Metering Ltd., HP Co., Huawei Technologies Co. Ltd., Moxa Inc., RuggedCom Inc., Shenzhen Clou Electronics Co. Ltd., Telvent DMS LLC, Toshiba Corp., Waison Group Ltd., XD Electric Group, and XJ Group Corp.
Click for report details: www.companiesandmarkets.com/Market/Energy-and-Utilities/Market-R ..
Browse all Energy and Utilities Market Research Reports www.companiesandmarkets.com/Market/Energy-and-Utilities/Market-R ..
Browse all Energy and Utilities Company Profile Reports www.companiesandmarkets.com/Market/Energy-and-Utilities/Company- ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.