China's wind power electricity generation has seen significant growth, starting from 1.41 Hundred Billion Kilowatthours in 2013 to 6.2 in 2023. In 2023, the value stood at 6.2 with an 8.71% year-on-year increase, and a 5-year CAGR of 11.1%. The future forecast indicates continued growth, reaching 8.48 in 2028. The five-year forecasted CAGR from 2024 to 2028 is 4.89%, with an overall growth rate of 26.98% over this period.
Focusing on the past decade, the industry experienced rapid initial growth, with a peak year-on-year variation of 47.11% in 2013. However, the growth rate has been gradually decreasing, reflecting a maturing market.
Future trends to watch for:
- Increasing emphasis on technological advancements for more efficient wind turbines.
- Government policies and incentives aimed at promoting renewable energy.
- Enhancements in grid infrastructure to better integrate wind power.
- Potential for offshore wind power developments.