$9.3bn
$X.Xbn
92,500
955
$XXX.Xm
The Solar Power Generation industry in China has grown significantly over the past five years. Industry revenue is expected to increase at an annualized 14.9% over the five years through 2022, to $9.3 billion. This trend includes anticipated revenue growth of 16.7% in 2022. In 2021, China's cumulative solar power output was 183.7 billion kilowatt hours, an increase of 14.1% from 2020.Rising household demand for electricity in China has led to several power supply shortages over the past few years, stimulating demand for solar power generation. Additionally, a reliance on imported oil and gas resources for power and increasing environmental consciousness have led to a strong government focus on developing renewable energy sources, particularly solar power.In 2022, China's solar power industry will face both opportunities and challenges. On the one hand, under the guidance of the dual carbon goal, the development of China's solar energy industry will receive stable policy support and drive the overall improvement and upgrading of the industrial chain. On the other hand, the large-scale development of new energy needs the support of new power system, and the policy system and terminal application mode need to be innovated.Due to technological advances and the industry expanding in scale, solar power is becoming an essential renewable energy source, along with hydroelectric and wind power. This trend is anticipated to boost industry demand over the next five years. Industry revenue is forecast to grow at an annualized 8.3% over the five years through 2027, to $13.8 billion.
Industry revenue has grown at a CAGR of 14.9 % over the past five years, to reach an estimated $9.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2022 | Revenue ($short_0)
2022 |
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There are no companies that hold a large enough market share in the Solar Power Generation in China industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including Solar photovoltaic power, Solar thermal power and Distributed photovoltaic power. Solar photovoltaic power is the largest segment of the Solar Power Generation in China.
The Solar Power Generation industry in China generates power by solar energy. The industry includes photovoltaic (PV) power generation and solar thermal power generation. Solar power generation usually refers to PV power generation, which uses solar cells to directly convert solar energy into electric energy.
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The Government has been promoting fast development of solar power generation. Both the installed capacity and power generation output have grown fast.
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Photovoltaic power is the largest product segment for the industry. Photovoltaic power includes centralized photovoltaic power and distributed photovoltaic power, jointly acc...
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Shandong and Jiangsu have larger share of distributed photovoltaic power. The install capacity of solar power generation in Shandong and Jiangsu makes up 10.5% and 6.5% of na...
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The industry concentration level is low. The top four enterprises are expected to account for an estimated 10.9% of total industry revenue in 2023.
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Stated-owned companies dominate the solar power generation market. State-owned capital dominates the industry to guarantee the stable power supply and power safety.
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The Government in China guides the industry development. The Government in China has been issuing industry assistance policies to support the development of the Solar Power G...
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The industry profitability has increased over the past five years. Decreasing equipment purchasing prices and growing electricity consumption contribute to increasing profita...
Including values and annual change:
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Key data sources in China include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Solar Power Generation industry in China is $9.3bn in 2024.
There are 955 businesses in the Solar Power Generation industry in China, which has grown at a CAGR of 14.1 % between 2019 and 2024.
The market size of the Solar Power Generation industry in China has been growing at a CAGR of 14.9 % between 2019 and 2024.
Over the next five years, the Solar Power Generation industry in China is expected to grow.
Photovoltaic power generation and Solar thermal power generation are part of the Solar Power Generation industry.
The level of competition is moderate and increasing in the Solar Power Generation industry in China.