15 October 2012 – Continuing with its huge growth as a country, China is set to generate US$31.4 billion in 2012 for the energy efficiency industry alone, according to energy specialist Enigin PLC. With increasing demand, there has also been a huge increase in suppliers – but as of yet, no shortage of work.
China’s growth has continued seemingly without pause. Over the course of 2011, its GDP reached US$7.4 trillion. This is a year-on-year increase of 9.2%. China’s energy efficiency sector is set to deliver an estimated US$31.4 billion in 2012, which is a 54.2% growth over five years.
The number of companies and consultants in the energy-saving field has grown rapidly, and the profit margin for this year is being projected at 13.8% of wealth generated. The bulk of the growth appears to be centred on large industry. Very logically, it is the high consumption companies and industries with the biggest carbon footprint that have the most to gain financially from cutting their usage. Thus, the bulk of the growth appears to be coming from these areas, with manufacturing providing one of the areas of growth for energy-saving consultants working in China.
Growth has not been driven by company owners from a directly commercial outlook. In 2006, the number of emissions regulations was increased alongside new energy saving guidelines, and these helped to bring a boost to the growth of the industry. According to Enigin, companies within the energy industry can fully expect to see strong support and actions from the government to encourage more of this activity and thus further growth.