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The Future of the Asia - Pacific Power Market to 2020
The Future of the Asia - Pacific Power Market to 2020
China, Japan - Largest Power Markets by Installed Capacity in the Asia –Pacific Region
kent,
sidcup,
United Kingdom
(prbd.net)
01/06/2010
"The Future of the Asia - Pacific Power Market to 2020"
China emerges as the largest power market by installed capacity among the Asia – Pacific countries with a share of 55.5% in the total installed capacity. Japan is the second largest market having a share of 18.1% in total installed capacity. This was followed by India and South Korea having a share of 9.8% and 4.7% in the total installed capacity. Australia has a market share of 3.6% in total installed capacity and is the fifth largest country by installed capacity among the Asia - Pacific countries.
Most of the Asia - Pacific countries will see a growth in electricity consumption. Increase in electricity consumption will require increased generation in the countries. High economic growth, increasing population and industrial growth in these countries will contribute to higher levels of electricity consumption in the coming years. Electricity demand contracted in 2008 owing to the global economic downturn and a decline in economic activities in the region. However, during the forecast period 2010-2020, the demand for electricity is expected to increase and hence new power plants are expected to be built to maintain a sustainable reserve margin in the region. Countries such as China, Japan, Malyasia and Australia are now seeing increased economic growth that is leading to a strain on the existing electricity infrastructure in the country. These countries are increasing their power generating capacities to meet their growing electricity demand. Owing to this, demand for power is growing quickly translating to wide area of growth opportunities in all segments of the power sector.
The governments of the countries have embarked on privatization and restructuring of the electricity industry. To achieve efficiency of electricity, competitive prices and fair competition, the governments are opening up their markets to increase participation from the private sector and competitiveness in the power sector. With the increasing demand, the transmission network has been put under tremendous pressure to supply power without any interruptions. To ease the pressure and supply electricity efficiently, many new transmission projects are currently underway or in a planning stage. The region has to invest heavily in order to increase its installed capacity and improve its existing infrastructure.
Countries like China and Japan are fastest growing industrial economies in recent decades. This rapid industrialization has challenged these countries to address greenhouse gas emissions over the next few decades. Therefore, with the increase in the use of renewable energy sources, countries plan to develop green technology, which further gives way to strategic investments in the R&D of the green sector. Countries are planning to use supercritical technology which has higher levels of fuel efficiency and lower greenhouse gas emissions. Each of these power plants will require huge investments; this will further open roads for private/foreign investments.
GBI Research's report - "The Future of the Asia-Pacific Power Market to 2020 – Growing Demand in the Region to Attract Major Investments" analyzes the power market in the Asia- Pacific countries. The Asia-Pacific region has become an investment hub for utility and construction companies. With the growing economy, there has been an increasing demand for power and hence has resulted in plans for the boost in power generation. Though oil and gas has been the primary source of power in this region, but renewable energy is also making strong in-roads in most of the nations in the region.
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