Category : Energy and Power | Published at : June-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The global nuclear power plant and equipment market is expected to grow at a CAGR of 3.2% from 2020 to 2027 and to reach a market value of around US$ 50,915 Mn by 2027.
The nuclear power plant is a thermal power station where heat is produced through a nuclear reactor. The generated heat is used to produce steam that drives a stream turbine which is connected to a generator that produces electricity. The overall electricity production with the help of nuclear power plant uses respective equipment.
Market Dynamics
The increasing demand for electricity across the globe coupled with the rising demand for cleaner and efficient ways of energy generation is driving the market growth. The increasing construction of nuclear power plants along with the growing nuclear investments in developing economies of the Asia-Pacific region is supporting the market value. Additionally, the technological advancements coupled with the international climate change goals are additionally contributing to market growth.
On the other side, the lower cost of renewable inculcated with negligible emissions and high cost associated with the nuclear power plant and equipment setup as well as adverse health effect associated with the exposure to the workers are some of the factors projected to hinder the growth over the forecast period from 2020 to 2027.
Pressurized Water Reactor (PWR) segment accounted for the major market share
In 2019, the Pressurized Water Reactor (PWR) segment by reactor type is leading the market with a major share (%). The nuclear power plants, operators prefer pressurized water reactors due to increased concern for safety as the pressurized water reactor is the safest from all available types. Additionally, the pressurized water reactors also protect water from the contamination with the radioactive material that minimizes the environmental damages. The increasing demand and construction of PWR along with the rising environmental concern are accelerating the market value.
The market research study on “Nuclear Power Plant and Equipment Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global nuclear power plant and equipment market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global nuclear power plant and equipment market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global nuclear power plant and equipment market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The nuclear power plant and equipment market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific dominated the Global Nuclear Power Plant And Equipment Market
In 2019, Asia Pacific is leading the market with maximum share (%). The region is also projected to maintain its dominance on account of developing economies of the region including China and India. The region is also projected to exhibit the fastest growth over the forecast timeframe from 2020 to 2027.
The players profiled in the report include BWX Technologies, Inc., Dongfang Electric Corp. Ltd., Doosan Corporation, General Electric, Korea Electric Power Corporation, Larsen & Toubro Limited, Mitsubishi Heavy Industries, Ltd., ROSATOM (ROSATOM State Atomic Energy Corporation), Shanghai Electric Group Co., Ltd., and Toshiba.
Market Segmentation
Market By Reactor Type
- High Temperature Gas-Cooled Reactor (HTGR)
- Pressurized Water Reactor (PWR)
- Boiling Water Reactor (BWR)
- Pressurized Heavy Water Reactor (PHWR)
- Fast Breeder Reactor (FBR)
- Others
Market By Equipment Type
- Island Equipment
- Auxiliary Equipment
Market By Geography
North America
- U.S
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The increasing demand of electricity, rising demand of cleaner and efficient way of energy generation, increasing construction of nuclear power plants, growing nuclear investments in developing economies, the technological advancements coupled with the international climate change goals are some of the factors driving the market growth.
Acumen Research and Consulting predict that the nuclear power plant and equipment market is expected to reach value of around US$ 50,915.8 Mn by 2027.
The nuclear power plant and equipment market is expected to grow at a CAGR of around 3.2% from 2020 to 2027.
Pressurized Water Reactor (PWR) is the leading segment by reactor type in the nuclear power plant and equipment market.
BWX Technologies, Inc., Dongfang Electric Corp. Ltd., Doosan Corporation, General Electric, Korea Electric Power Corporation, Larsen & Toubro Limited, Mitsubishi Heavy Industries, Ltd., ROSATOM (ROSATOM State Atomic Energy Corporation), Shanghai Electric Group Co., Ltd., and Toshiba are the prominent players in the global market.
Asia Pacific held the highest market share in the nuclear power plant and equipment market.
Asia Pacific is expected to be the fastest growing market over the forecast period.
