Across China, situations relying on ‘wind power machinery’ imports have undergone a fundamental transformation. This is ascribed to expansion across the production sectors of ‘wind power equipment.’ The wind power capacity in China observed considerable surge in 2010, subsequent to constant reductions in equipment prices.
Thus, the gains for machinery manufacturers lowered with time, becoming insufficient in 2011. This made it difficult for manufacturers to fend for their needs. So that they were able to maintain a competitive advantage over others, companies lowered equipment prices & boosted productive capacities. The same also resulted from strong competition, affecting the market’s healthy expansion.
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Deeming the market’s forecast period – 2013 to 2017, the number of Chinese equipment manufacturers was over 80 in 2012. Collective shares of the top three manufacturers; Goldwind, Sinovel, & Dongfang; were 52.3 percent by end December 2011. Top ten companies contributed about 84.3 percent shares, with remaining sixty firms occupying only around 3.6 percent shares by the end of the same year.
China dominates the global wind power industry. It witnesses fast growth across novel wind amenities and is home to the biggest installed capacities. The country has recognized ‘wind power’ as one of its key ‘economic propellers.’ Two key drivers of the China wind power equipment and parts market include governmental support (regarding these equipment) and ‘wind power’ innovations.
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Reduction in the costs of these machineries has also propelled market sales. However, despite these, national fiscal recession in 2015 led to overloading across the power industry, decreasing market demand. The market is fragmented into products and applications.
Products consist of wind turbines, wind-solar hybrid systems, low-cost wind turbines, low-cost solar panels, wind solar hybrid controllers, wind grid tie inverters, and others. Applications include power production at remote sites, hybrid, low power, village electrification, utility-interconnection, and others.
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China is the most swiftly expanding wind turbine industry globally. Moreover, it is the second biggest wind power industry after the United States of America in reference to collective installed capacities. China’s wind turbine industry is driven by lengthy coastlines, vast land strips, and regulatory assistance. All these factors also contribute added revenues for the China wind power equipment and parts market.
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