- China is the world’s largest market for electricity infrastructure development and smart grid technologies.
- China is expected to increase its power transmission lines from 1.15 million circuit kilometers (Ckm) in 2014 to over 1.59 million Ckm by end-2020.
- The most growth is expected to be seen once the country’s Ultra High Voltage plans are executed. During 2022-2025, the market size is expected to grow the most and exceed $60bn in 2025.
- SGCC and CSG are the two state-owned companies that operate and maintain six regional grids and are responsible for the transmission and distribution infrastructure in China.
- China also has commitments to massively expand its use of smart meters. Through 2015, tenders for 425.8 million smart meters have been contracted.
Opportunities in China
CHINA FAST FACTS
- According to Navigant, with upwards of 469 million smart meters at the end of 3Q 2017,
- China continues to lead the market, accounting for 68.7% of tracked global installations.
- According to GTM, by 2020 China is expected to account for over 24 percent of the global smart grid market at around $96 billion
- China’s state-owned electric utility State Grid, with revenue of $315bn, is by far the world’s biggest power company.
- The unique Zhangbei high-voltage direct current (HVDC) grid in the Beijing-Tianjin-Hebei area of China will enable the integration of remote wind, solar and hydro energy in a transmission ring that ensures optimization of power flow.
- Beijing’s ‘Made in China 2025’ blueprint states that China wants to become a global leader in the AI field by 2030.