You are here

Asia’s smart grid market to hit USD 19bn by 2016

US five-year forecast reports Asian markets will more than double mainly in China as grid demands grow

Asia’s smart grid markets are set to hit 19bn by 2016 as grid demands grow
Asia’s smart grid market are set to hit 19bn by 2016 as demands to improve energy grids grow

Asia will become a centre of global smart grid activity and hit USD 19bn by 2016, according to a US report. The cumulative smart grid market in China, Japan and South Korea, is currently valued at USD 8.5bn, but the number is forecasted to more than double in the next five years - moving at “breakneck pace,” particularly in Chinese markets - as demand to advance energy grids increases.

The Smart Grid in Asia, 2012-2016: Markets, Technologies and Strategies report is from group Greentech Media (GTM) Research. The company delivers news, research, and analysis in the business-to-business green technology market.

“We expect to see the smart grid in Asia move forward at a breakneck pace," said Kamil Bojanczyk, the report's lead author and an analyst-at-large with GTM Research. "Over USD 45bn in funding has been earmarked by governments and utilities across China, Japan and South Korea, with the clear majority of those funds and opportunities originating in the Chinese market.”

The report provides a detailed five-year smart grid forecast, domestic vendor taxonomies, and strategic perspectives on how smart grid players should position themselves for success in each market.

Bojanczyk indicated that each country's growth will be characterised by the specific needs of their utilities and existing grids.

It reports the vast majority of smart grid investment in China centers around transmission, distribution automation and automatic metering reading (AMR) to support a developing grid and robust renewable energy build-out.

In Japan, the sunsetting of all of the country's nuclear plants has created an acute need for demand response, home energy management and smart meter deployments. While in South Korea, the market is developing quite differently; for the country with the most reliable grid in the world, South Korea and its chaebols are looking to develop next-gen smart grid technologies across all segments primarily for global export.

In addition, the report identifies the leading strategies for addressing each of Asia's smart grid markets, and analyses the companies that are currently winning big.

This list includes; ABB, Accenture, BPL Global, Echelon, Freescale, GE, Holley Metering, Moxa, RuggedCom, Siemens, State Grid Corporation of China, Wasion, XD Electric, XJ Group.

For more information on this report and to download a brochure with a complete table of contents, visit http://www.greentechmedia.com/research/report/smart-grid-in-asia-2012-2016.