Aerial photo taken on Nov. 3, 2021 shows electricity workers patrolling amid a photovoltaic and wind power generation project installed above the fishery waters in Sheyanghu Township of Baoying County of Yangzhou, east China's Jiangsu Province. (Xinhua/Li Bo)
"The potential in China is incredible," said Delta OHM's foreign trade manager Cristian Mazzero. "I think the market could represent 10 percent of our sales within five years and then keep growing after that."
ROME, Nov. 13 (Xinhua) -- China's renewable energy sector is the largest, and one of the fastest-growing in the world, and Italy's Delta OHM will be helping to boost its efficiency after attending the China International Import Expo (CIIE) in Shanghai from Nov. 5 to 10.
Delta OHM is based near the northern Italian city of Padova, and produces a wide range of equipment used to measure the efficiency of wind turbines and solar panels, allowing energy companies to rapidly identify technical glitches and other problems.
The company already has a presence in China, but this year was the first time Delta OHM participated in the CIIE, in order to help increase its commercial reach in the country.
"It was an important step for us to play a role at CIIE," Cristian Mazzero, the company's foreign trade manager, told Xinhua. "We think CIIE is helping us lay the groundwork for the future. We won't know the details about how effective the participation was for some time, but we know China represents a tremendous growth opportunity for the company."
Photo taken on Nov. 5, 2021 shows a solar power curtain wall at the Intelligent Industry & Information Technology Exhibition Area of the 4th China International Import Expo (CIIE) in east China's Shanghai. (Xinhua/Zhang Jiansong)
Mazzero said the company's sales are divided, with about one-third in Italy and two-thirds outside Italy's borders. However, this could change dramatically in the coming years, as China's renewable energy sector rapidly grows.
According to data firm Statista, China had the world's largest renewable energy sector by far in 2020, with 895 gigawatts of installed capacity. That is three times larger than the equivalent sector in the United States, which had an installed capacity of 292 gigawatts. Brazil was next with 150 gigawatts, followed by India, with 134, and Germany, with 132. Italy, Delta OHM's home base, is further down the list with 55 gigawatts of installed capacity.
Mazzero said that China remains a relatively small part of Delta OHM's overall business, representing around 2 percent of total global sales, which are projected to be around 10 million euros (11.5 million U.S. dollars) this year.
However, with the help of smart business strategies, which rely in part on events like CIIE that can help build the company's reputation and lead to partnerships, Chinese sales will likely grow even faster than the company's overall sales increase.
"The potential in China is incredible," Mazzero said. "I think the market could represent 10 percent of our sales within five years and then keep growing after that."
Aerial photo taken on Nov. 3, 2021 shows a wind power field in Luduo Township of Baoying County of Yangzhou, east China's Jiangsu Province. (Xinhua/Li Bo)■