USA, New York: According to the new report by Market Research Reports, China has become the world’s largest and the fastest-growing wind power generation market.
In 2013, China had a cumulative wind power capacity of 91.4 GW, of which 16.1 GW was newly added capacity, accounting for 46.1% of the world’s newly installed capacity. Surge in wind power installations has driven the development of China wind power converter market, which was worth around RMB 18.8 billion ($3 billion) in 2013.
About 10,726 sets of converters were needed in China in 2013, rising by 26.8% from a year earlier. Domestic Chinese companies involve Beijing Corona, Sungrow Power, Hopewind, Zhuzhou CSR Times Electric and Qharvest, reports Digital Journal.
Wind power converter consists mainly of power component which includes main transformer and high/low voltage switch, control device, general component, power electric component, metal material and electric wire.
It is expected that China’s installed capacity of wind power will reach 150 GW by 2020, accounting for 4-6% of the world’s total wind power installations.
Source: Digital Journal