Assessment of China's Market for Smart Meters
BEIJING- April 11, 2011 – GCiS China Strategic Research has published a study of the China market for electric smart meters. The study, which focuses on single phase and three types of three phase meter, estimates the value of China’s domestic market at over RMB 10 Bn for 2010 and experienced growth rates in excess of 25% last year.
Growth is driven by the State Grid’s smart meter purchase program and the nation’s Twelfth Five Year Plan that will see between 80 million smart meters installed in Chinese homes by 2015 and the adoption of smart metering across commerce and industry. When replacement purchases are factored in, the total installed base could well exceed a quarter of a billion units by 2020.
Amid such staggering growth rates, smart meter suppliers have been racing to expand their factory capacities. “The average smart meter supplier in China is at two-thirds capacity, which would have alarm bells ringing any other market,” said Edward Barlow, senior analyst and author of the study. “But in China they’re looking at real growth of 17 to 20 percent per year for the next five years.” The study, which surveyed around 75 key players, finds that total capacity is expected to increase by 30 percent by 2012.
However, the State Grid, which is looking for RMB 60 billion in short term loans, has reportedly compressed smart meter pricing to a much lower extent than many suppliers can accommodate. As suppliers rush to the bottom of the cost curve, meter accuracy and lifespan are being forfeited. “The Grid companies account for two out of every three Renminbi spent in the market and they have been asking their suppliers for lower and lower costs per meter,” Barlow added. “This is putting enormous pressure on the market.”
About the GCIS China Smart Meters Market Study
This GCiS market study draws on a three month, in-depth primary survey of around 75 of the market’s supply side, channel players and end-users. It is essential reading for any professional needing accurate and detailed strategic information on this market. Major areas covered include: market size and shares, five-year projections, market structure, pricing trends, distribution, consumption, an assessment of key suppliers and more.
Growth is driven by the State Grid’s smart meter purchase program and the nation’s Twelfth Five Year Plan that will see between 80 million smart meters installed in Chinese homes by 2015 and the adoption of smart metering across commerce and industry. When replacement purchases are factored in, the total installed base could well exceed a quarter of a billion units by 2020.
Amid such staggering growth rates, smart meter suppliers have been racing to expand their factory capacities. “The average smart meter supplier in China is at two-thirds capacity, which would have alarm bells ringing any other market,” said Edward Barlow, senior analyst and author of the study. “But in China they’re looking at real growth of 17 to 20 percent per year for the next five years.” The study, which surveyed around 75 key players, finds that total capacity is expected to increase by 30 percent by 2012.
However, the State Grid, which is looking for RMB 60 billion in short term loans, has reportedly compressed smart meter pricing to a much lower extent than many suppliers can accommodate. As suppliers rush to the bottom of the cost curve, meter accuracy and lifespan are being forfeited. “The Grid companies account for two out of every three Renminbi spent in the market and they have been asking their suppliers for lower and lower costs per meter,” Barlow added. “This is putting enormous pressure on the market.”
About the GCIS China Smart Meters Market Study
This GCiS market study draws on a three month, in-depth primary survey of around 75 of the market’s supply side, channel players and end-users. It is essential reading for any professional needing accurate and detailed strategic information on this market. Major areas covered include: market size and shares, five-year projections, market structure, pricing trends, distribution, consumption, an assessment of key suppliers and more.
CHAPTER 1: INTRODUCTION
I. INTRODUCTION
LPS Overview
Sections of the Study
Sampling
Figure 1.1: Total Sampling by Target Group
Supplier Sampling
Figure 1.2: Index of Size Breakdown Scheme
Figure 1.3: Proportion of Suppliers in Sample, by Category
Channel Players Sampling & Segmentation Definition
Sampling – Suppliers and Distributors
Figure 1.4: Supplier Sample Representation
Figure 1.5: Channel Player Sample Representation
Product Definitions
End-user Industry Definitions
II. DEFINITIONS AND PROCESS
Abbreviations
Figure 1.6: Glossary of Industry Terms in English and Chinese
Methodology: Segmentation of the Smart Meters Market
By End User Industry
Figure 1.7: GCiS Standard China Geographic Segmentation
GCiS Regional Segmentation
Locations by Tier in China
Figure 1.8: Overview: The Pearl River Delta
Figure 1.9: Overview: The Yangtze River Delta
Figure 1.10: Overview: The Bohai Rim
About Limited Publication Studies
CHAPTER 2: TOTAL ANALYSIS
I. EXECUTIVE SUMMARY
Market in Sum
Figure 2.1: Summary of Key Market Figures (RMB Mn)
Figure 2.2: Market Size and Share by Industry 2010
Figure 2.3: Key Benchmark Data- China Smart Meters Market
Figure 2.4: Snapshot of Key Market Entry Issues
Key Findings
Market Drivers, Inhibitors
Figure 2.5: Drivers and Inhibitors – Chart
Regulatory Factors
Figure 2.6: Relevant Government Bodies
Figure 2.7: Related Bodies and Organizations
Corporate and Regulatory News
Figure 2.8: Information on China Smart Meters Market’s Main Events
Market Opportunities
Figure 2.9: GCiS China Market Opportunities Assessment (by Market Segment)
Figure 2.10: Market Opportunity Matrix for Smart Meters Suppliers by Industry
Figure 2.11: Opportunity Qualitative & Quantitative Assessment – Industry
Figure 2.12: Market Opportunity Matrix for Smart Meters Suppliers by Product
Figure 2.13: Opportunity Qualitative & Quantitative Assessment – Product
Expert Views
Recommendations
II. MARKET FIGURES
Key Findings
Market Figures Overview
Figure 2.14: Market Size and Share by Industry 2010
Figure 2.15: Smart Meter Market Segmentation by Product Type - 2010
Market Breakdown
Figure 2.16: China’s Domestic Smart Meter Market Breakdown
Exports
Figure 2.17: Domestic Sales and Exports (RMB Mn) 2010
Supplier Revenues and Output
Figure 2.18: Domestic and Export Revenue Breakdown (RMB Bn) 2010
Figure 2.19: Total Revenues by End User Industry (RMB Mn) 2010
Figure 2.20: Total Revenues by Industry Segment 2010
Figure 2.21: Percentages of Total Revenue by End User Industry 2010
Market Shares
Figure 2.22: Estimated Market Share of Smart Meter Suppliers by Company
Figure 2.23: Estimated Market Share by Supplier – Chart
Figure 2.24: Revenue Breakdown by Region (2010) – Total Chart
Figure 2.25: Sales by Product and Region 2010 (RMB Mn)
Figure 2.26: Sales by Product and Region 2010
Figure 2.27: Classification of Provinces by Region
Pricing and Pricing Trends
Figure 2.28: Average Price by Product (RMB / Unit)
Figure 2.29: Reported Pricing Trends – Supplier Data (Smart meters)
Figure 2.30: Weighted Growth Rate by Smart Meter Type (2009)
Figure 2.31: 2009 to 2015 Smart meters Market Size (Bn RMB)
Figure 2.32: 2009 to 2015 Smart meters Market Size – Chart
Figure 2.33: Year-on-Year Growth Rates for Projection Period
III. COMPETITIVE ANALYSIS
Key Findings
Competitors in this Market
Figure 2.34: Suppliers by Company Size (2009)
Figure 2.35:ket Shares of Smart Maters by Product Segment and Ownership
Figure 2.36: Perceived Importance of Key Marketing Strategies
Figure 2.37: Key Strategic Indicators of Top Suppliers
Capacity
Figure 2.38: Used Smart Meter Capacity in 2009
Marketing Methods
Figure 2.39: Details of Capacity Expansion Investment
Figure 2.40: Five Forces Analysis
IV. CHANNEL & DOWNSTREAM ANALYSIS
Key Findings
Figure 2.41: Revenues and Sales Penetration by Company Type
Figure 2.42: Percentages Channel Player Sales by Company Type
Figure 2.43: China Smart Meter Market Value Chain
Value Chain Explained
Figure 2.44: Average Distributor Headcount
Figure 2.45: Distributor Sales by Product
Figure 2.46: Channel and Supplier Smart Meter Prices Compared
Figure 2.47: Channel and Supplier Smart Meter Prices Compared – Chart
Figure 2.48: Customer Demographic Data by Industry (2008)
Figure 2.49: State Grid Electricity Demand used in Forecast by Year
Figure 2.50: End Users in each Industry（2009）
Figure 2.51: Population in each tier city (10 thousand)
CHAPTER 3: SEGMENT ANALYSIS
I. SINGLE-PHASE SMART METER
Key Findings
Figure 3.1: Revenues, Output, Growth and Pricing by Market Tier 2010 (Single-phase Smart Meter)
Supplier Overview
Figure 3.2: Single-phase Smart Meter Market Segment Leaders by Revenue 2010 (RMB Mn)
Figure 3.3: Single-phase Smart Meter Revenue and Output by Industry 2010 - Chart
Figure 3.4: Three-phase
Single-phase Smart Meter Market by Region
Figure 3.5: Single-phase Smart Meter Sales Revenue Percentages by Region – Chart
Figure 3.6: Single-phase Smart Meter Sales Revenues by Region
Market Shares
Figure 3.7: Single-phase Smart Meter Leading Suppliers’ Market Shares by Revenue (RMB Mn) and Output (000 Sets)
Figure 3.8: Single-phase Smart Meter Leading Suppliers’ Market Shares by Revenue and Output – Chart (%)
Figure 3.9: Current Growth Rates – Single Phase Smart Meter
Figure 3.10: Market Size Projections – Single Phase Smart Meter
Product Specifications and Price Comparison
Figure 3.11: Product Specifications – Single-phase Smart Meter
Figure 3.12: Definition of Other Features
Figure 3.13: Typical Products and Pricing –Single-phase Smart Meter
II. THREE-PHASE
Key Findings
Figure 3.14: Revenues, Output, Growth and Pricing by Market Tier 2010 (Three-phase
Figure 3.15: Three-phase 1.0 Smart Meter Market Segment Leaders by Revenue 2010 (RMB Mn)
Figure 3.16: Three-phase 1.0 Smart Meter Revenue and Output by Industry 2010 – Chart
Figure 3.17: Single-phase Smart Meter 2010 Market Leaders (RMB Mn)
Figure 3.18: Three-phase 1.0 Smart Meter Sales Revenues by Region
Figure 3.19: Three-phase 1.0 Smart Meter Sales and Household Percentages by
Figure 3.20: Three-phase 1.0 Smart Meter Leading Suppliers’ Market Shares by Revenue (RMB Mn) and Output (000 Sets)
Figure 3.21: Three-phase 1.0 Smart Meter Leading Suppliers’ Market Shares by Revenue and Output – Chart (%)
Growth and Projections
Figure 3.22: Current Growth Rates – Tri-Phase 1.0 Smart Meter
Figure 3.23: Market Size Projections – Tri-Phase 1.0 Smart Meter
Figure 3.24: Product Specifications –Three-phase 1.0 Smart Meter
Figure 3.25: Definition of Other Features
Figure 3.26: Typical Products and Pricing –Three-phase 1.0 Smart Meter
III. THREE-PHASE 0.5S SMART METER
Key Findings
Figure 3.27: Revenues, Output, Growth and Pricing by Market Tier 2010 (Three-phase 1.0 Smart Meter)
Figure 3.28: Three-phase 0.5S Smart Meter Market Segment
Leaders by Revenue 2010 (RMB Mn
Figure 3.29: Three-phase 0.5S Smart Meter Revenue and
Output by Industry 2010 - Chart
Figure 3.30: Three-phase 0.5S Smart Meter 2010 Market Leaders (RMB Mn)
Figure 3.31: Three-phase 0.5S Smart Meter Sales Revenues by Region
Figure 3.32: Three-phase 0.5S Smart Meter Sales and Household Percentages by Region
Market Shares
Figure 3.33: Three-phase 0.5S Smart Meter Leading Suppliers’ Market Shares by Revenue (RMB Mn) and Output (000 Sets)
Figure 3.34: Three-phase 0.5S Smart Meter Leading Suppliers’ Market Shares by Revenue and Output – Chart (%)
Figure 3.35: Current Growth Rates – Tri-Phase 0.5S Smart Meter
Figure 3.36: Market Size Projections – Tri-Phase 0.5S Smart Meter
Figure 3.37: Product Specifications –Three-phase 0.5S Smart Meter
Figure 3.38: Definition of Other Features
Pricing Comparison – Typical Products by Supplier
Figure 3.39: Typical Products and Pricing –Three-phase 0.5S Smart Meter
Three-phase
Key Findings
Figure 3.40: Revenues, Output, Growth and Pricing by Market Tier 2010 (Three-phase
Supplier Overview
Figure 3.41: Three-phase 0.2S Smart Meter Market Segment Leaders by Revenue 2010 (RMB Mn)
Figure 3.42: Three-phase 0.2S Smart Meter Revenue and Output by Industry 2010 – Chart
Figure 3.43: Three-phase 0.2S Smart Meter 2010 Market Leaders (RMB Mn)
Figure 3.44: Three-phase 0.2S Smart Meter Sales Revenues by Region
Figure 3.45: Three-phase 0.2S Smart Meter Sales and Household Percentages by Region
Market Shares
Figure 3.46: Three-phase 0.2S Smart Meter Leading Suppliers’ Market Shares by Revenue (RMB Mn) and Output (000 Sets)
Figure 3.47: Three-phase 0.2S Smart Meter Leading Suppliers’ Market Shares by Revenue and Output – Chart (%)
Figure 3.48: Current Growth Rates – Tri-Phase 0.2S Smart Meter
Figure 3.49: Market Size Projections – Tri-Phase 0.2S Smart Meter
Figure 3.50: Product Specifications –Three-phase 0.2S Smart Meter
Figure 3.51:: Definition of Other Features
Figure 3.52: Typical Products and Pricing –Three-phase 0.2S Smart Meter
SUPPLIER PROFILES
LIST OF CONTACTS
I. INTRODUCTION
LPS Overview
Sections of the Study
Sampling
Figure 1.1: Total Sampling by Target Group
Supplier Sampling
Figure 1.2: Index of Size Breakdown Scheme
Figure 1.3: Proportion of Suppliers in Sample, by Category
Channel Players Sampling & Segmentation Definition
Sampling – Suppliers and Distributors
Figure 1.4: Supplier Sample Representation
Figure 1.5: Channel Player Sample Representation
Product Definitions
End-user Industry Definitions
II. DEFINITIONS AND PROCESS
Abbreviations
Figure 1.6: Glossary of Industry Terms in English and Chinese
Methodology: Segmentation of the Smart Meters Market
By End User Industry
Figure 1.7: GCiS Standard China Geographic Segmentation
GCiS Regional Segmentation
Locations by Tier in China
Figure 1.8: Overview: The Pearl River Delta
Figure 1.9: Overview: The Yangtze River Delta
Figure 1.10: Overview: The Bohai Rim
About Limited Publication Studies
CHAPTER 2: TOTAL ANALYSIS
I. EXECUTIVE SUMMARY
Market in Sum
Figure 2.1: Summary of Key Market Figures (RMB Mn)
Figure 2.2: Market Size and Share by Industry 2010
Figure 2.3: Key Benchmark Data- China Smart Meters Market
Figure 2.4: Snapshot of Key Market Entry Issues
Key Findings
Market Drivers, Inhibitors
Figure 2.5: Drivers and Inhibitors – Chart
Regulatory Factors
Figure 2.6: Relevant Government Bodies
Figure 2.7: Related Bodies and Organizations
Corporate and Regulatory News
Figure 2.8: Information on China Smart Meters Market’s Main Events
Market Opportunities
Figure 2.9: GCiS China Market Opportunities Assessment (by Market Segment)
Figure 2.10: Market Opportunity Matrix for Smart Meters Suppliers by Industry
Figure 2.11: Opportunity Qualitative & Quantitative Assessment – Industry
Figure 2.12: Market Opportunity Matrix for Smart Meters Suppliers by Product
Figure 2.13: Opportunity Qualitative & Quantitative Assessment – Product
Expert Views
Recommendations
II. MARKET FIGURES
Key Findings
Market Figures Overview
Figure 2.14: Market Size and Share by Industry 2010
Figure 2.15: Smart Meter Market Segmentation by Product Type - 2010
Market Breakdown
Figure 2.16: China’s Domestic Smart Meter Market Breakdown
Exports
Figure 2.17: Domestic Sales and Exports (RMB Mn) 2010
Supplier Revenues and Output
Figure 2.18: Domestic and Export Revenue Breakdown (RMB Bn) 2010
Figure 2.19: Total Revenues by End User Industry (RMB Mn) 2010
Figure 2.20: Total Revenues by Industry Segment 2010
Figure 2.21: Percentages of Total Revenue by End User Industry 2010
Market Shares
Figure 2.22: Estimated Market Share of Smart Meter Suppliers by Company
Figure 2.23: Estimated Market Share by Supplier – Chart
Figure 2.24: Revenue Breakdown by Region (2010) – Total Chart
Figure 2.25: Sales by Product and Region 2010 (RMB Mn)
Figure 2.26: Sales by Product and Region 2010
Figure 2.27: Classification of Provinces by Region
Pricing and Pricing Trends
Figure 2.28: Average Price by Product (RMB / Unit)
Figure 2.29: Reported Pricing Trends – Supplier Data (Smart meters)
Figure 2.30: Weighted Growth Rate by Smart Meter Type (2009)
Figure 2.31: 2009 to 2015 Smart meters Market Size (Bn RMB)
Figure 2.32: 2009 to 2015 Smart meters Market Size – Chart
Figure 2.33: Year-on-Year Growth Rates for Projection Period
III. COMPETITIVE ANALYSIS
Key Findings
Competitors in this Market
Figure 2.34: Suppliers by Company Size (2009)
Figure 2.35:ket Shares of Smart Maters by Product Segment and Ownership
Figure 2.36: Perceived Importance of Key Marketing Strategies
Figure 2.37: Key Strategic Indicators of Top Suppliers
Capacity
Figure 2.38: Used Smart Meter Capacity in 2009
Marketing Methods
Figure 2.39: Details of Capacity Expansion Investment
Figure 2.40: Five Forces Analysis
IV. CHANNEL & DOWNSTREAM ANALYSIS
Key Findings
Figure 2.41: Revenues and Sales Penetration by Company Type
Figure 2.42: Percentages Channel Player Sales by Company Type
Figure 2.43: China Smart Meter Market Value Chain
Value Chain Explained
Figure 2.44: Average Distributor Headcount
Figure 2.45: Distributor Sales by Product
Figure 2.46: Channel and Supplier Smart Meter Prices Compared
Figure 2.47: Channel and Supplier Smart Meter Prices Compared – Chart
Figure 2.48: Customer Demographic Data by Industry (2008)
Figure 2.49: State Grid Electricity Demand used in Forecast by Year
Figure 2.50: End Users in each Industry（2009）
Figure 2.51: Population in each tier city (10 thousand)
CHAPTER 3: SEGMENT ANALYSIS
I. SINGLE-PHASE SMART METER
Key Findings
Figure 3.1: Revenues, Output, Growth and Pricing by Market Tier 2010 (Single-phase Smart Meter)
Supplier Overview
Figure 3.2: Single-phase Smart Meter Market Segment Leaders by Revenue 2010 (RMB Mn)
Figure 3.3: Single-phase Smart Meter Revenue and Output by Industry 2010 - Chart
Figure 3.4: Three-phase
Single-phase Smart Meter Market by Region
Figure 3.5: Single-phase Smart Meter Sales Revenue Percentages by Region – Chart
Figure 3.6: Single-phase Smart Meter Sales Revenues by Region
Market Shares
Figure 3.7: Single-phase Smart Meter Leading Suppliers’ Market Shares by Revenue (RMB Mn) and Output (000 Sets)
Figure 3.8: Single-phase Smart Meter Leading Suppliers’ Market Shares by Revenue and Output – Chart (%)
Figure 3.9: Current Growth Rates – Single Phase Smart Meter
Figure 3.10: Market Size Projections – Single Phase Smart Meter
Product Specifications and Price Comparison
Figure 3.11: Product Specifications – Single-phase Smart Meter
Figure 3.12: Definition of Other Features
Figure 3.13: Typical Products and Pricing –Single-phase Smart Meter
II. THREE-PHASE
Key Findings
Figure 3.14: Revenues, Output, Growth and Pricing by Market Tier 2010 (Three-phase
Figure 3.15: Three-phase 1.0 Smart Meter Market Segment Leaders by Revenue 2010 (RMB Mn)
Figure 3.16: Three-phase 1.0 Smart Meter Revenue and Output by Industry 2010 – Chart
Figure 3.17: Single-phase Smart Meter 2010 Market Leaders (RMB Mn)
Figure 3.18: Three-phase 1.0 Smart Meter Sales Revenues by Region
Figure 3.19: Three-phase 1.0 Smart Meter Sales and Household Percentages by
Figure 3.20: Three-phase 1.0 Smart Meter Leading Suppliers’ Market Shares by Revenue (RMB Mn) and Output (000 Sets)
Figure 3.21: Three-phase 1.0 Smart Meter Leading Suppliers’ Market Shares by Revenue and Output – Chart (%)
Growth and Projections
Figure 3.22: Current Growth Rates – Tri-Phase 1.0 Smart Meter
Figure 3.23: Market Size Projections – Tri-Phase 1.0 Smart Meter
Figure 3.24: Product Specifications –Three-phase 1.0 Smart Meter
Figure 3.25: Definition of Other Features
Figure 3.26: Typical Products and Pricing –Three-phase 1.0 Smart Meter
III. THREE-PHASE 0.5S SMART METER
Key Findings
Figure 3.27: Revenues, Output, Growth and Pricing by Market Tier 2010 (Three-phase 1.0 Smart Meter)
Figure 3.28: Three-phase 0.5S Smart Meter Market Segment
Leaders by Revenue 2010 (RMB Mn
Figure 3.29: Three-phase 0.5S Smart Meter Revenue and
Output by Industry 2010 - Chart
Figure 3.30: Three-phase 0.5S Smart Meter 2010 Market Leaders (RMB Mn)
Figure 3.31: Three-phase 0.5S Smart Meter Sales Revenues by Region
Figure 3.32: Three-phase 0.5S Smart Meter Sales and Household Percentages by Region
Market Shares
Figure 3.33: Three-phase 0.5S Smart Meter Leading Suppliers’ Market Shares by Revenue (RMB Mn) and Output (000 Sets)
Figure 3.34: Three-phase 0.5S Smart Meter Leading Suppliers’ Market Shares by Revenue and Output – Chart (%)
Figure 3.35: Current Growth Rates – Tri-Phase 0.5S Smart Meter
Figure 3.36: Market Size Projections – Tri-Phase 0.5S Smart Meter
Figure 3.37: Product Specifications –Three-phase 0.5S Smart Meter
Figure 3.38: Definition of Other Features
Pricing Comparison – Typical Products by Supplier
Figure 3.39: Typical Products and Pricing –Three-phase 0.5S Smart Meter
Three-phase
Key Findings
Figure 3.40: Revenues, Output, Growth and Pricing by Market Tier 2010 (Three-phase
Supplier Overview
Figure 3.41: Three-phase 0.2S Smart Meter Market Segment Leaders by Revenue 2010 (RMB Mn)
Figure 3.42: Three-phase 0.2S Smart Meter Revenue and Output by Industry 2010 – Chart
Figure 3.43: Three-phase 0.2S Smart Meter 2010 Market Leaders (RMB Mn)
Figure 3.44: Three-phase 0.2S Smart Meter Sales Revenues by Region
Figure 3.45: Three-phase 0.2S Smart Meter Sales and Household Percentages by Region
Market Shares
Figure 3.46: Three-phase 0.2S Smart Meter Leading Suppliers’ Market Shares by Revenue (RMB Mn) and Output (000 Sets)
Figure 3.47: Three-phase 0.2S Smart Meter Leading Suppliers’ Market Shares by Revenue and Output – Chart (%)
Figure 3.48: Current Growth Rates – Tri-Phase 0.2S Smart Meter
Figure 3.49: Market Size Projections – Tri-Phase 0.2S Smart Meter
Figure 3.50: Product Specifications –Three-phase 0.2S Smart Meter
Figure 3.51:: Definition of Other Features
Figure 3.52: Typical Products and Pricing –Three-phase 0.2S Smart Meter
SUPPLIER PROFILES
LIST OF CONTACTS
