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China Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution, and Technology, Regulations, Key Players and Forecast, 2022-2035

The China power market cumulative installed capacity was 2,368.3 GW in 2021. The market is expected to grow at a CAGR of more than 5% during the forecast period. Historically, electricity consumption in China grew at a high rate in comparison to other countries. Generation from hydropower and renewable energy sources has increased which has led to idle generation capacity in several coal power plants and has seen the government banning the construction of new coal-based capacity in the key economic regions of Hong Kong, Shanghai, and Beijing.

The China power market report discusses the power market structure of China and provides historical and forecast numbers for capacity, generation, and consumption up to 2035. Detailed analysis of the country’s power market regulatory structure, competitive landscape, and a list of major power plants are provided. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential.

China Power Market Outlook

China Power Market Outlook

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What are the market dynamics in the China power market?

The power regulatory structure is governed by the National Energy Administration (NEA). With increasing concern over the need to reduce Greenhouse Gas (GHG) emissions and protect the environment, renewable resources are expected to witness the highest growth among power-generating resources. In 2021, the NEA announced that it will make the use of solar PV on residential as well as commercial rooftops mandatory. The NEA also asked its provincial offices to identify counties where this mandate can be piloted and is under the process of implementing the mandate on a trial basis.

China is the world’s largest consumer of coal. Coal power plants are the major source of power generation in the country. This is due to the availability of cheap imported coal from countries like Indonesia and Australia. The government is trying to reduce its dependence on coal-based power generation due to pollution concerns and to reduce import dependency.

China’s shift in focus from heavy industries to service and high-tech industries, as well as towards sustainable development means that demand for coal will continue to fall in the future. Nevertheless, coal will continue to be the dominant source of power generation during the forecast period.

What are the key sectors in the China power market?

The key sectors in the China power market are the residential sector, commercial sector, industrial sector, and transport sector. In 2021, the industrial sector had the dominant share in the power consumption market followed by the residential sector and commercial sector.

China Power Market Analysis by Sectors

China Power Market Analysis by Sectors

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Who are the key market players in the China power market?

Some of the key players in the China power market are China Energy Investment Corporation, China Huaneng Group Co. Ltd, State Power Investment Corporation, China Huadian Corporation Ltd, China Datang Corporation (CDT), and China Three Gorges Corp. In 2021, China’s power generation market was dominated by China Energy Investment Corporation.

China Power Market Analysis, by Players

China Power Market Analysis, by Players

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Market report scope

Market size (Year – 2021)  2,368.3 GW
Growth rate (CAGR) >5%
Forecast period 2022-2035
Key sectors Residential Sector, Commercial Sector, Industrial Sector, and Transport Sector
Key market players China Energy Investment Corporation, China Huaneng Group Co. Ltd, State Power Investment Corporation, China Huadian Corporation Ltd, China Datang Corporation (CDT), and China Three Gorges Corp

 Scope

  • Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential of the power sector.
  • Statistics for installed capacity, generation, and consumption from 2010 to 2021, and forecast for the next 14 years to 2035
  • Capacity, generation, and major power plants by technology
  • Data on leading active and upcoming power plants
  • Information on transmission and distribution infrastructure, and electricity imports and exports
  • Policy and regulatory framework governing the market
  • Detailed analysis of top market participants, including market share analysis and SWOT analysis

Reasons to Buy

  • Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector.
  • Identify key factors driving investment opportunities in the country’s power sector.
  • Facilitate decision-making based on strong historic and forecast data.
  • Develop strategies based on the latest regulatory events.
  • Position yourself to gain the maximum advantage of the industry’s growth potential.
  • Identify key partners and business development avenues.
  • Identify key strengths and weaknesses of important market participants.
  • Respond to your competitors’ business structure, strategy, and prospects.

Key Players

China Energy Investment Corporation, China Huaneng Group Co. Ltd, State Power Investment Corporation, China Huadian Corporation Ltd, China Datang Corporation, China Three Gorges Corp

Table of Contents

Table of Contents

1. Executive Summary

1.1 China secures energy supply amid Ukraine crisis

1.2 Renewable power will overtake thermal power capacity however thermal power generation will dominate in 2035

2. Introduction

2.1 China Power Market

2.2 GlobalData Report Guidance

3. China Power Market, Snapshot

3.1 Country Summary

3.2 Macroeconomic Factors

3.3 Supply Security

3.4 Opportunities

3.5 Challenges

3.6 Impact of COVID-19

4. China Power Market, Market Analysis

4.1 Market Structure

4.2 Key Market Players

4.3 Financial Deals

Deal Value and Volume, 2010–2021

Deals by Type, 2021

4.4 China Power Market, Demand Structure

Power Consumption by Sector, 2021

5. China Power Market, Regulatory Scenario

5.1 Thermal Power Policy

5.2 Hydropower Policy

5.3 Nuclear Power Policy

5.4 Renewable Energy Market, Overview

5.5 Renewable Energy Targets

5.6 Renewable Energy Law

Taxation Measures

Grid Access

Interconnection Standards

Special Fund for Renewable Energy Development

Renewable Energy Power Consumption Guarantee Mechanism

Renewable Energy Law Amendments

5.7 International Science and Technology Co-operation Program for New and Renewable Energy

5.8 The 14th Five-Year Plan

5.9 Hydrogen Energy in China

Shandong Province

Guangdong Province

Heibei Province

Ningxia Province

Henan Province

Tianjing Province

5.10 Renewable Portfolio Standard (RPS)

5.11 Carbon Intensity Target

5.12 National Emission Trading Scheme (ETS)

5.13 Global Environment Facility (GEF) Grants

5.14 Subsidy-Free Solar, Wind Power Policy

Work plan for promoting the construction of unfunded and affordable projects for wind power and solar PV power generation

5.15 Financial Incentives and Policy Support for Solar, China

Solar Auctions and Schemes

Solar Mandate

Action Plan for the Development of Smart Photovoltaic Industry

Research and Development Support for Solar PV

5.16 Financial Incentives and Policy Support for Wind, China

Wind Auctions and Rules

Notice on Provisional Management Measures for Distributed Wind Power Project Development and Construction for all provinces

Notice regulating the standardization of the wind power equipment and generators quality

Market Entry Standards for Wind Equipment Manufacturers

5.17 Financial Incentives and Policy Support for Hydropower, China

Preferential Value Added Tax for Small Hydropower

Rural Electrification Policies Favouring Small Hydro Installation

China Three Gorges rules for new domestic hydro projects

5.18 Financial Incentives and Policy Support for Biopower, China

Value Added Tax for Biogas

Non-food Biomass Feedstock Standardization Technical Committee

6. China Power Market, Capacity and Generation

6.1 Cumulative Capacity Share by Technology, 2021

6.2 Total Power Capacity and Generation, 2010–2035

6.3 Thermal Power Capacity and Generation, 2010–2035

6.4 Hydropower Capacity and Generation, 2010–2035

6.5 Nuclear Power Capacity and Generation, 2010–2035

6.6 Renewable Power Capacity and Generation, 2010–2035

7. China Power Market, Transmission and Distribution Overview

7.1 Transmission Network

7.2 Distribution Network

7.3 Electricity Import and Export

7.4 Grid Interconnection

7.5 Electricity Trading

8. China Power Market, Major Generating Companies

8.1 China Energy Investment Corporation

Company Overview

Business Description

8.2 China Huaneng Group Co. Ltd

Company Overview

Business Description

SWOT Overview

8.3 State Power Investment Corporation

Company Overview

Business Description

8.4 China Huadian Corporation Ltd

Company Overview

Business Description

8.5 China Datang Corporation

Company Overview

Business Description

8.6 China Three Gorges Corp

Company Overview

Business Description

9. Appendix

9.1 Abbreviations

9.2 Market Definitions

Power

Renewable Power

Installed Capacity

Electricity Generation

Electricity Consumption

9.3 Methodology

Coverage

Secondary Research

Primary Research

Modelling and Forecasting

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List of Tables

List of Tables

Table 1: Power Market, China, Macroeconomic Factors, 2010–2030

Table 2: Renewable Energy Law, China, Major Regulations

Table 3: Renewable Energy Law, China, Renewable Portfolio Standards by Province (%), 2020

Table 4: GEF Funding, China, 2021

Table 5: Power Market, China, Top 10 winners Solar PV Tender, 2019

Table 6: Power Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Table 7: Power Market, China, Cumulative Capacity and Annual Generation Share by Technology, 2010–2035

Table 8: Thermal Power Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Table 9: Thermal Power Market, China, Major Plants, 2021

Table 10: Hydropower Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Table 11: Hydropower Market, China, Major Plants, 2021

Table 12: Nuclear Power Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Table 13: Nuclear Power Market, China, Major Plants, 2020

Table 14: Renewable Power Market, China, Cumulative Capacity (GW), 2010–2035

Table 15: Renewable Power Market, China, Annual Generation (TWh), 2010–2035

Table 16: Renewable Power Market, China, Major Plants, 2021

Table 17: Power Market, China, Transmission Line Length (Ckm) by Voltage Level, 2010–2025

Table 18: Power Market, China, Distribution Line Length (Ckm) by Voltage Level, 2010–2025

Table 19: Power Market, China, Annual Electricity Import and Export (TWh), 2000–2021

Table 20: Power Market, China, Upcoming Interconnection Projects

Table 21: Abbreviations

List of Figures

List of Figures

Figure 1: Power Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Figure 2: Power Market, China, Country Summary

Figure 3: Power Market, China, Macroeconomic Factors, 2010–2030

Figure 4: Power Market, China, Market Structure

Figure 5: Power Market, China, Market Share of Generation Companies (%), 2021

Figure 6: Power Market, China, Deal Value and Number of Deals, 2010–2021

Figure 7: Power Market, China, Deals by Type (%), 2021

Figure 8: Power Market, China, Annual Power Consumption, 2010–2035

Figure 9: Power Market, China, Power Consumption by Sector (%), 2021

Figure 10: Power Market, China, Cumulative Capacity Share by Technology (%), 2021

Figure 11: Power Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Figure 12: Power Market, China, Capacity Share by Technology, 2010–2035

Figure 13: Power Market, China, Annual Generation Share by Technology, 2010–2035

Figure 14: Thermal Power Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Figure 15: Hydropower Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Figure 16: Nuclear Power Market, China, Cumulative Capacity and Annual Generation, 2010–2035

Figure 17: Renewable Power Market, China, Cumulative Capacity, 2010–2035

Figure 18: Renewable Power Market, China, Annual Generation, 2010–2035

Figure 19: Power Market, China, Annual Electricity Import and Export, 2000–2021

Frequently Asked Questions

The power market size in China was 2,368.3 GW in 2021.

 

 

The power market in China is expected to grow at a CAGR of more than 5% during the forecast period.

The key sectors in the China power market are the residential sector, commercial sector, industrial sector, and transport sector.

Some of the key market players in the China power market are China Energy Investment Corporation, China Huaneng Group Co. Ltd, State Power Investment Corporation, China Huadian Corporation Ltd, China Datang Corporation (CDT), and China Three Gorges Corp.

Power consumption increased from 1,264.3 TWh in 2000 to 7,202.5 TWh in 2020, growing at a CAGR of more than 9%.

In 2020, industrial power consumption had the dominant share in power consumption accounting for more than 65%.

China’s power transmission market has two large operators, namely the State Grid Corporation of China (SGCC) and China Southern Power Grid (CSG), both of which are owned by the state.

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