According to CCM’s research, the extent to which China is overproducing wind turbines will force Chinese wind turbine manufacturers to focus on international buyers within the next five years.
CCM's recent report on the Market and Future Prospects of Renewable Energies in China, the country’s wind power capacity rose at an incredible annual growth rate of 58% between 2007 and 2013. In those years, Chinese wind turbine manufacturers have expanded just as quickly, and their production capacity is at least two times the country’s demands.
The Chinese government has previously stated that its target is to install 20 GW of new capacity per year until 2020. But according to CCM’s industry experts, Chinese manufacturers currently have the ability to produce up to 40 GW worth of turbines annually.
To read further analysis, including comments from CCM’s energy market analyst, please continue reading here.
These findings were taken from the recent Full Report CCM published. To download a free sample of the report, please click here.
For more information about CCM and our coverage of China's renewable energies market, please visit www.cnchemicals.com, or get in touch with us directly by emailing firstname.lastname@example.org or calling +86-20-37616606.