Industry Overview

With the economic development in Southeast Asia, the demand for electricity is also gradually growing. In 2021, ASEAN Energy Center technical officials pointed out that 10 Southeast Asian countries are expected to experience a power shortage of 79GW to 1143GW in 2025-2060. Therefore, in order to ensure the balance of power supply and demand, Southeast Asian countries need to develop renewable energy, of which wind power has huge room for development.

The total technically exploitable amount of wind power in Southeast Asia exceeds 1,100GW, of which the technically exploitable amount in the 5-6m/s wind speed range exceeds 800GW, mainly distributed in Thailand, Vietnam, Myanmar, Indonesia and other countries. According to CRI’s analysis, the technical development capacity of wind speed above 7m/s in Southeast Asia is mainly distributed in the Philippines and Vietnam.

Accompanying the huge wind energy development potential is the extremely low wind power development capacity of Southeast Asian countries, as of 2019, the total wind power development capacity of 10 Southeast Asian countries is only 2,344MW, accounting for 0.3% of the total installed wind power capacity worldwide. Laos, Myanmar, Cambodia and other countries with some potential for low wind speed wind power development have not yet or just started to develop wind power.

Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.

According to CRI’s analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.

Under the influence of tight energy supply, energy conservation and emission reduction environment, several countries in Southeast Asia have formulated renewable energy-related development goals and policies to promote wind power development. Taking Vietnam as an example, Vietnam is expected to achieve 60GW of new installed capacity in 2045 and introduced relevant onshore and offshore wind power feed-in tariff policies in 2018, which has promoted the development of wind power projects in Vietnam.

CRI expects the wind power industry in Southeast Asia to maintain growth from 2023-2032.

Topics covered:

• Southeast Asia Wind Power Industry Status and Major Sources in 2018-2022
• What is the Impact of COVID-19 on Southeast Asia Wind Power Industry?
• Which Companies are the Major Players in Southeast Asia Wind Power Industry Market and What are their Competitive Benchmarks?
• Key Drivers and Market Opportunities in Southeast Asia Wind Power Industry
• What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Wind Power Industry during 2023-2032?
• What is the Expected Revenue of Southeast Asia Wind Power Industry during 2023-2032?
• What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
• What are the Competitive Advantages of the Major Players in Southeast Asia Wind Power Industry Market?
• Which Segment of Southeast Asia Wind Power Industry is Expected to Dominate the Market in 2032?
• What are the Major Adverse Factors Facing Southeast Asia Wind Power Industry?

Table of Contents

1 Singapore Wind Power Industry Analysis

1.1 Singapore’s Wind Power Industry Development Environment

1.1.1 Geography

1.1.2 Population

1.1.3 Economy

1.1.4 Minimum Wage in Singapore

1.2 Singapore Wind Power Industry Operation 2018-2022

1.2.1 Supply

1.2.2 Demand

1.3 Analysis of Major Wind Power Companies in Singapore

2 Analysis of Thailand’s Wind Power Industry

2.1 Development Environment of Thailand’s Wind Power Industry

2.1.1 Geography

2.1.2 Population

2.1.3 Economy

2.1.4 Minimum Wage in Thailand

2.2 Thailand Wind Power Industry Operation 2018-2022

2.2.1 Supply

2.2.2 Demand

2.3 Major Wind Power Companies in Thailand

3 Analysis of the Wind Power Industry in the Philippines

3.1 Philippine Wind Power Industry Development Environment

3.1.1 Geography

3.1.2 Population

3.1.3 Economy

3.1.4 Minimum Wage in the Philippines

3.2 Philippine Wind Power Industry Operation 2018-2022

3.2.1 Supply

3.2.2 Demand

3.3 Major Wind Power Companies in the Philippines

4 Malaysia Wind Power Industry Analysis

4.1 Malaysia Wind Power Industry Development Environment

4.1.1 Geography

4.1.2 Population

4.1.3 Economy

4.1.4 Minimum Wage in Malaysia

4.2 Malaysia Wind Power Industry Operation 2018-2022

4.2.1 Supply

4.2.2 Demand

4.3 Major Wind Power Companies in Malaysia

5 Indonesia Wind Power Industry Analysis

5.1 Indonesia Wind Power Industry Development Environment

5.1.1 Geography

5.1.2 Population

5.1.3 Economy

5.1.4 Minimum Wage in Indonesia

5.2 Indonesia Wind Power Industry Operation 2018-2022

5.2.1 Supply

5.2.2 Demand

5.3 Major Wind Power Companies in Indonesia

6 Vietnam Wind Power Industry Analysis

6.1 Vietnam Wind Power Industry Development Environment

6.1.1 Geography

6.1.2 Population

6.1.3 Economy

6.1.4 Minimum Wage in Vietnam

6.2 Vietnam Wind Power Industry Operation 2018-2022

6.2.1 Supply

6.2.2 Demand

6.3 Major Wind Power Enterprises in Vietnam

7 Myanmar Wind Power Industry Analysis

7.1 Development Environment of Myanmar Wind Power Industry

7.1.1 Geography

7.1.2 Population

7.1.3 Economy

7.1.4 Myanmar Minimum Wage

7.2 Myanmar Wind Power Industry Operation Status 2018-2022

7.2.1 Supply

7.2.2 Demand

7.3 Major Wind Power Companies in Myanmar

8 Brunei Wind Power Industry Analysis

8.1 Brunei Wind Power Industry Development Environment

8.1.1 Geography

8.1.2 Population

8.1.3 Economy

8.1.4 Brunei Minimum Wage

8.2 Brunei Wind Power Industry Operation Status 2018-2022

8.2.1 Supply

8.2.2 Demand

8.3 Major Wind Power Companies in Brunei

9 Analysis of the Wind Power Industry in Laos

9.1 Laos Wind Power Industry Development Environment

9.1.1 Geography

9.1.2 Population

9.1.3 Economy

9.1.4 Minimum Wage in Laos

9.2 Operation of the Wind Power Industry in Laos 2018-2022

9.2.1 Supply

9.2.2 Demand

9.3 Major Wind Power Companies in Laos

10 Cambodia Wind Power Industry Analysis

10.1 Development Environment of Cambodia’s Wind Power Industry

10.1.1 Geography

10.1.2 Population

10.1.3 Economy

10.1.4 Minimum Wage in Cambodia

10.2 Cambodia Wind Power Industry Operation Status 2018-2022

10.2.1 Supply

10.2.2 Demand

10.3 Major Wind Power Companies in Cambodia

11 Southeast Asia Wind Power Industry Outlook 2023-2032

11.1 Southeast Asia Wind Power Industry Development Influencing Factors Analysis

11.1.1 Favorable Factors

11.1.2 Unfavorable Factors

11.2 Southeast Asia Wind Power Industry Supply Forecast 2023-2032

11.3 Southeast Asia Wind Power Industry Manufacturing Market Demand Forecast 2023-2032

11.4 Impact of COVID -19 Epidemic on Wind Power Industry

The post Research Report on Southeast Asia Wind Power Industry 2023-2032 first appeared on CRI Report.

Vietnam has average strength on the power generation side, but is growing rapidly. According to IEV’s March 2021 report, the total installed capacity of Vietnam’s power system will be about 56 GW by 2020. Vietnam’s power mix has the largest share of coal-fired power and hydropower at 34% and 30% respectively, gas turbine and oil-fired thermoelectric power at 15%, solar (including rooftop solar) at 24%, wind power at 1%, biomass power at about 1%, and hydropower imported from Laos at 1%. The total number of operating power plants in Vietnam is about 162 (excluding small hydropower plants and renewable energy). the maximum load capacity of the power system in 2020 is about 38.7 GW, and the crude reserve ratio of the power system (excluding wind and solar) is 34.3%. According to the Vietnamese government, the installed capacity is expected to reach 125-130 GW by 2030, doubling the installed capacity within 10 years. Vietnam’s power generation CAGR is expected to reach 5.7% from 2021 to 2030.

Retail electricity tariffs in Vietnam are approved by the government’s Prime Minister and have a uniform tariff policy throughout the country, with tariff levels that are low compared to other countries in the region. The higher electricity tariffs for industrial, commercial and foreign consumers subsidize the electricity bills of urban and rural residents.

To attract more private sector investment in IPP projects, the Ministry of Industry and Trade and EVN (Vietnam Electricity) are pushing the government to gradually deregulate electricity prices, according to CRI analysis. Under current regulations, EVN can raise or lower electricity prices every six months without government approval, within a 10 percent range whenever the cost of power generation (fuel prices, foreign exchange rates, changes in generation mix, etc.) rises by 3 percent, and government approval is required for price changes above 10 percent. The current average price of electricity in Vietnam is VND1,533-2,580 (6.3 to 10.75 cents) per kWh, depending on usage.

According to CRI’s analysis, Vietnam has experienced rapid economic development in recent years, with high potential for future economic growth. Since early 2022, Vietnam has gradually gotten rid of the adverse effects of COVID-19, which is conducive to further inflow of foreign capital and will drive electricity demand to maintain high growth. It is expected that in the next few years, Vietnam will gradually reduce the proportion of thermal power generation while Vietnam will work to accelerate the development of renewable energy (hydropower, wind, solar, biomass, etc.).

CRI recommends that investors actively explore the possibility of investing in wind and solar power as well as developing pumped storage hydropower plants. On the other hand, they can continue to install clean and efficient thermal power plants in some regions, and prioritize the development of pithead coal power using clean coal power technology in the power shortage and coal-producing areas of northwest Vietnam.

Topics covered:

• Overview of Vietnam’s power sector
• The economic and policy environment of Vietnam’s power sector
• What is the impact of COVID-19 on the power sector in Vietnam?
• Vietnam Electricity Industry Market Size 2017-2021
• Vietnam Electricity Industry Market Forecast 2022-2031
• Vietnam Electricity Import and Export Analysis
• Analysis of major power companies in Vietnam
• Key Drivers and Market Opportunities in Vietnam’s Power Sector
• What are the key drivers, challenges and opportunities for Vietnam’s power sector during the forecast period 2022-2031?
• What is the expected revenue of Vietnam’s power sector over the forecast period 2022-2031?
• Which segment of the Vietnam power industry market is expected to dominate the market in 2031?
• What are the main negative factors facing the power sector in Vietnam?

The post Research Report on Vietnam Electricity Industry 2022-2031 first appeared on CRI Report.

Wind power generation refers to the use of wind turbines to directly convert wind energy into electricity. Among the various forms of wind energy utilization, wind power generation is the main form. Among renewable energies, it is also one of the most technically mature way with large-scale development conditions and commercial prospects.

According to CRI’s analysis, the total amount of wind energy in the world is about 130 billion kilowatts, of which 20 billion kilowatts are available. Currently, global wind power industry is mainly distributed in the United States, Europe, China and other regions, increasing from 31.9GW in 2013 to 93GW in 2020, a CAGR of 16.5% during 2013-2020.

The continued increase in newly installed wind power capacity in China has made China the largest region in the world in terms of cumulative installed wind power capacity, surpassing the EU. 2020 is a record year for the global wind power industry, with 93GW of new installations worldwide, up 53% YOY.

In 2020, China’s newly added wind power capacity reached 52GW, double the amount of new wind power capacity installed in 2019. China has become one of the world’s largest wind power markets, with record growth in installed wind power in 2020, and its onshore wind power was responsible for 56.3% of the total new installations worldwide.

In the emerging offshore wind sector in recent years, the total cumulative global offshore wind power installed in 2020 was 35 GW, with 6.1 GW of new installations, down slightly from 6.24 GW in 2019.

China achieved more than 3 GW of new grid-connected offshore wind power in 2020, becoming the world’s largest offshore wind market for the third consecutive year. The European market maintained steady growth, with the Netherlands ranking second globally with nearly 1.5 GW of new installations and Belgium in third place (706 MW).

It is expected that with the existing wind power policy, 235 GW of new offshore wind power will be installed worldwide in the next decade, an increase equivalent to seven times the existing offshore wind power installation.

According to CRI’s analysis, China’s wind power market is somewhat different from the global market. 20,401 new units was installed in China in 2020, with a capacity of 54.43 million kW, an increase of 105.1% YOY. Such a prosperous market, however, has barely developed relationships with overseas companies.

The world’s highest-ranked company, Vestas, accounts for only 2.1% of installed capacity in China’s wind turbine market, ranking 11th in terms of new installed capacity for China’s wind turbine manufacturers in 2020.

Accordingly, overseas markets are not open to Chinese companies. In 2020, China exported a total of 1188 MW of wind turbine capacity, accounting for only 2-3% of the total global installed capacity outside of China. At the same time, China’s wind power machine industry is highly concentrated.

The leading enterprises are more advanced in capital, technology accumulation,

and industry chain integrity, with obvious advantages in the market competition, so they hold a stable leading position.

Xinjiang Goldwind Science & Technology Co., Ltd., Envision Energy and Ming Yang Smart Energy Group Limited, three wind turbine manufacturers, have been holding the top three positions in the industry since 2016. During 2016 to 2020, according to the size of the Chinese market, CR5 increased from 60% to 70%, CR10 from 84% to 90%.

In terms of cost, wind power costs are lower than PV costs. Globally, among offshore wind, onshore wind, and PV, onshore wind has the lowest LCOE of 0.25 RMB/KWh.

According to the global LCOE data published by the International Renewable Energy Agency (IRENA), offshore wind, onshore wind, and PV had decreased by 48%, 56%, and 85% respectively, during 2010 to 2020. By 2020, the LCOE for offshore wind, onshore wind, and PV was about RMB 0.54/KWh, RMB 0.25/KWh, and RMB 0.37/KWh respectively.

Compared to the decline in PV, onshore wind power still has more room for improvement. China’s average LCOE for onshore wind is among the highest in the world, at 0.24 RMB (about 3.7 cents)/KWh in 2020.

According to the plan of China’s National Energy Administration, China’s total installed wind PV capacity will reach more than 1.2 billion kW (about 1200 GW) by the end of 2030. It means that during 2022-2030, China will need to add at least about 300 million kW of wind power, with an average annual installed capacity of at least 30 GW.

For wind power, with little policy change, the industry will continue to grow at least by 2030. And the global wind power industry is expected to continue to have strong growth momentum by 2050.

Topics covered:

• Overview of the wind power industry
• Economic and policy environment of wind power
• What is the impact of COVID-19 on the wind power industry?
• Global and China’s Wind Power Market Size, 2016-2021
• Forecast on Global and China’s Wind Power Market, 2022-2030
• Analysis of the development status of offshore wind power
• Analysis of major wind power companies
• Key drivers and market opportunities in the wind power industry
• What are the key drivers, challenges and opportunities for the wind power industry during the forecast period 2022-2030?
• What is the expected revenue of the wind power market during the forecast period of 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of the wind power market is expected to dominate the market in 2030?
• What are the major adverse factors facing the wind power industry?

Related reports:

Global Small Wind Power Market Research Report – Forecast to 2023

Offshore Wind Turbines Market : Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030

Global Renewable Energy Market: By Type (Hydroelectric energy, Geothermal energy, Wind energy, Solar energy and Biomass energy); By End-user (Commercial, Residential and Industrial); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

The post Global and China’s Wind Power Industry Research Report 2016-2030 first appeared on CRI Report.