Installed Base of Smart Meters in China to Reach Nearly 380 Million by 2020, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- The power grid in China is undergoing a fundamental upgrade, focusing on the development of a smart grid. A primary element of this transformation is the deployment of interactive technologies, including smart meters for residences and businesses. According to a new report from Pike Research, a part of Navigant's Energy Practice, the installed base of smart meters in China will reach 377 million by 2020, growing from 139 million in 2012. The penetration rate for smart meters will reach 74 percent in the same year, the report concludes.
"China's smart grid development is on a fast track," says senior research analyst Andy Bae. "The State Grid Corporation of China (SGCC), the government-owned electric utility that leads the market by a large margin, is the main force behind efforts to construct the country's smart grid. Moreover, building a smart grid is a key goal for many provinces and cities under the country's current Five-Year Plan, which continues through 2015."
According to the report, the greatest smart grid growth in China will occur in transmission system upgrades, with transmission investment reaching a cumulative total of more than $72 billion by 2020. The Chinese government and SGCC have emphasized their intention to invest in high-voltage direct current and transmission upgrades in order to solve the country's power imbalance issues. China aims to provide electricity to urban and rural areas by delivering generated power sources from developable hydropower located in the mountainous southwestern region, as well as wind and solar resources concentrated in the northwest.
The report, "Smart Grid in China", provides a comprehensive analysis of the relevant issues of China's smart grid deployment program. The report includes a detailed analysis of the market drivers, business models and technology issues for smart grid development in China. Profiles are provided for more than 40 key industry players, classified by different industries, along with forecasts for smart grid revenue and smart meter shipments through 2020. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Smart Grid in China," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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