China Reactive Power Compensation Device Industry Grows with Powerful Investments (2014-2018)
Albany, NY (PRWEB) January 28, 2015 -- The report analyzes the strengths, weaknesses, opportunities, and threats of the China reactive power compensation device industry. It further highlights the trends key players must tap into to expand their opportunities, and provides a wealth of knowledge about other crucial market dynamics.
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The reactive power compensation device industry is growing at a promising rate as the country is looking at ways to tackle the problems of poor power quality. The power quality in China is deteriorating due to reactive power and harmonic wave in the nation’s electrical power grids. The reactive power compensation device industry is also being fueled by stringent energy conversation laws, efforts to reduce toxic emissions, and the ongoing smart power grid construction. In addition to this, the product quality and quantity have also changed for the better, which has in turn resulted in greater demand. The China-based reactive power compensation device industry also finds a huge demand in several other fields.
In 2013, the investment in the China reactive power compensation device industry was measured at CNY371.7 billion (US$59.78 billion), which was down by 1.46% year-on-year. However, about CNY389.4 billion were invested in national power grid construction, which was a year-on-year hike of 5.44%. The two investments totaled CNY761.1 billion, a rise of 1.96% year-on-year, despite one being slightly on the lower side. Huge amounts of investment have ushered in rapid growth of the China reactive power compensation device industry. The reactive power compensation device industry in China registered a total industrial output worth CNY38.58 billion (US$6.2 billion), while sales were recorded at CNY37.84 billion (US$6 billion). The profit earned by the reactive power compensation device industry was CNY2.25 billion, up 8.6% in 2013 as compared to the same time last year.
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The biggest market share in the China reactive power compensation device industry is held by companies such as C-EPRI Science & Technology Group Company, Rongxin Power Electronic Co., Ltd., and Sieyuan Electric Co., Ltd. They essentially hold the determinant chunk of the dynamic reactive power compensation segment. The other companies making a strong impact on the China reactive power compensation device industry are Beijing Soundpower Science & Technology Co., Tai Kai Power Electronic Co., Ltd., MCSR-SVC., Qingdao Evercontaining Electric Co. Ltd., and Shandong Disheng Electron Co., Ltd.
The China reactive power compensation device market was valued at CNY48.763 billion (US$7.8 billion) in 2013. The market research report on China reactive power compensation device market estimates that the market for SVC in China will surpass CNY10 billion (US$1.6 billion) in addition to a rise in demand for reactive power compensation devices in the downstream market.
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