TechNavio recognizes the following companies as the key players in the Smart Grid Market in China: ABB Group, Alstom SA, GE Energy, and Schneider Electric Co.
Commenting on the report, an analyst from TechNavio’s team said: “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.”
According to the report, 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.
Further, the report states that 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 study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/smart-grid-market-china-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/energy
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TechNavio Announces the Publication of its Research Report -Smart Grid Market in China 2012-2016
