China seen overtaking US as largest smart grid market

Global investments in smart grid technologies increased by seven percent in 2012 to $13.9 billion.

This was mainly due to demand in the U.S. and China, according to new figures by research firm Bloomberg New Energy Finance.

The U.S. remains to be the largest regional market for smart grid technologies, with $4.3 billion worth of investment in 2012, even as this declined from $5.1 billion in 2011.

Meanwhile, China is seeing an increase in investment from $2.8 billion to $3.2 billion last year. The growth is largely due to support of major smart metering procurement by the national State Grid company.

Bloomberg said China is expected to outmatch the U.S. as the largest smart grid market this year as the U.S. government’s stimulus-funded projects wind up and Chinese investment continues to scale up.

Overall, Asia raised its investment to $5.6 billion in 2012, with new digital energy initiatives in the pipeline in Japan, India, Korea and Southeast Asia.

“Growth in the smart grid industry remains strong. Asia and Europe will be responsible for the greatest spending increases between 2013 and 2018,” said Albert Cheung, practice head for energy smart technologies at Bloomberg New Energy Finance.

For more.

Also Read

What is the future of gas in Australia's energy market?

Vietnam’s weak grid a barrier to direct power purchase policy

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit