Market Research Report
Biofuels Market in China 2015-2019
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||277846|
|Published||Content info||57 Pages
|Biofuels Market in China 2015-2019|
|Published: October 28, 2015||Content info: 57 Pages||
The continuous growth in the population has led to increased power consumption in the production and transportation sectors. As a result, there is a rise in the level of pollution and GHG. China accounted for 23% of the global energy consumption in the year 2014 according to BP. Over-dependence on coal and oil for power generation and volatile oil prices have increased the energy insecurity of the nation. Energy insecurity along with the rising pollution levels has forced the Chinese government to focus on changing its energy mix. To combat this issue, the government is investing heavily in the renewable sector. In 2014, $83 billion was invested in renewable energy, out of which the investments in solar and wind power held the first and second position, followed by biofuels and biomass. China has increased its investments in the renewable energy sector consecutively for the past 10 years to achieve its goal of meeting 15% of its energy needs through renewable energy and increase its biofuels usage for transportation energy needs to 15% by the year 2020.
Technavio's analysts forecast the biofuels market in China to grow at a CAGR of 16.2% over the period 2014-2019.
This report covers the present scenario and the growth prospects of the biofuels market in China for 2015-2019. To calculate the market size, the report considers the annual production of biofuels in China, which includes:
Technavio's report, Biofuels Market in China 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.