Power Market - China Industry Analysis, Size, Share, Growth , Trends, and Forecast The China power market size is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing focus on renewable electric power generation, rising consumption of electricity, increasing investments in power sector, rapid urbanization, growing number of consumers, and rising consumption has led to the growth of power generation in China.
Power is the rate, per unit time at which an electrical energy is transferred with the help of an electric circuit. Power generation is the process that transforms different types of energy into the electrical energy. There are various types of source of power generation such as non-renewable and renewable energy. It generates the electricity from the primary sources of energy. Power transformer is an electric device that is used to transfer electric energy from one electric circuit to multiple electric circuits. Power plants generates electricity by heating engines fueled with combustion or nuclear fission or by different means including kinetic energy of wind, water, and others. The two main process carried by power generation industry that is producing power and distribution of power with the help of predefined power. These tasks are completed by the entities including sole traders, partnerships, and organizations that do operate facilities in the electric power generation.
Market Trends, Drivers, Restraints, and Opportunities
Increasing investments in transmission and distribution infrastructure is estimated to propel the market expansion during the forecast period. Rapid growth in renewable power sector is major factor driving the market growth.