Nuclear Power Plant and Equipment Market– The Biggest Trends to Watch out for 2028
A recent market intelligence report that is published by Data Insights Partner on the global Nuclear Power Plant and Equipment Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Nuclear Power Plant and Equipment Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Nuclear Power Plant and Equipment Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Nuclear Power Plant and Equipment Market is offered. In accordance with the report, the global Nuclear Power Plant and Equipment Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
A thermal power station where the heat is sourced from a nuclear reactor is called a nuclear power plant. A typical nuclear power plant uses heat for the generation of steam which is the driver of a steam turbine attached to a generator that leads to electricity production. The various components like fuel handling, reactor assembly, and many more that are used in a nuclear power plant are nuclear power plant equipment. Obninsk Nuclear Power Plant located at Obninsk of Soviet Russia was the globe’s first nuclear power plant that started operation on June 27th, 1954.
Market Drivers
The soaring demand for energy and the creation and rising drive for clean electricity from a variety of end users is providing the initial impetus to the growth of the nuclear power plant and equipment market. Most of the nations are looking forward to adopt cleaner methods of power generation.
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The depletion of non-renewable fossil fuels that were used in the production of energy are not a reliable source of energy in the near future. At present, the fluctuating price of fossil fuels and its adverse effect on electricity prices is compelling the consumers to look out for cheaper alternative sources of electricity and is driving this market.
For many nations, nuclear power plants are backup for securing energy and electricity. For the mitigation of the negative impacts of constantly changing climate cycle and air pollution, nuclear power plants and equipment is a good choice. Such preference is empowering the growth of this market.
The skyrocketing demand for electricity from the industrial sector to satiate the needs of huge quantity of power for industrial processing of both developed and developing nations coupled with the rapid pace of industrialization in some of the developing nations is charging up the nuclear power plant and equipment market.
The ability of nuclear power plants to produce electricity at moderate cost and the necessary a moderate size of plant is propelling the growth of the nuclear power plant and equipment market.
Market Restraints
The operation of nuclear power plants generates radioactive waste. The complexity arising with the dumping of this waste since it is averse to human health is hampering the growth of this market.
The setting up of a nuclear power plant and equipment needs heavy capital investment. In addition to this, the operation of nuclear power plants with respect to nuclear power projects needs adequate funding which is not looked after and is straining this market.
Nuclear disaster like the Fukushima disaster in Japan has resulted in a pessimistic approach towards the development of nuclear power plants and deployment of nuclear energy.
The moderate cost of renewable that is inculcated with nuclear-based emissions is hindering the growth of the nuclear power plant and equipment market.
Opportunities
The widening dependence on the nuclear energy generated by nuclear power plants and equipment is likely to be a bankable opportunity for the participants of this market.
The scarcity of power and the inevitability of smog in some of the developing economies is likely to be good scope for kick starting this market.
Advancing science and technology coupled with research and development in this sector is likely to provide lucrative opportunities to the nuclear power plant and equipment market.
Trends
North America is projected to showcase rapid market growth in the forecast period. This can be traced back to the fact that USA is the dominant producer of nuclear energy, producing a share of 30% of total nuclear power generation. Moreover, the rising demand power as well as clean energy coupled with the niche curved by the government for supporting the growth of nuclear power plant and equipment is positively affecting the growth in this region. Asia-Pacific is projected to follow North America in terms of rapidity of economic growth owning the spurring demand of energy, population growth, industrialization, the setting up of nuclear power plants and constantly developing economies. The growing need for electricity is likely to make Middle East and Africa’s nuclear power plant and equipment market progress in the forecast period.
Segment Covered:
This market intelligence report on the global Nuclear Power Plant and Equipment Market encompasses market segments based on reactor type, equipment type, and country.
By Reactor Type the global Nuclear Power Plant and Equipment Market has been divided into:
q High Temperature Gas-Cooled Reactor (HTGR)
q Pressurized Heavy Water Reactor (PHWR)
q Boiling Water Reactor (BWR)
q Pressurized Water Reactor (PWR)
q Other Reactors
By Equipment Type the global Nuclear Power Plant and Equipment Market has been divided into:
q Auxiliary Equipment
q Island Equipment
By country/region, the global Nuclear Power Plant and Equipment Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Hitachi-GE Nuclear Energy Ltd
q SembCorp Industries
q ROSATOM
q Larsen & Toubro Ltd
q Babcock and Wilcox Company
q Mitsubishi Heavy Industries
q Dongfang Electric Corporation Ltd
q Alstom S.A.
q AREVA SA
q BWX Technologies
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Nuclear Power Plant and Equipment Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Hitachi-GE Nuclear Energy Ltd
In March 2020, Hitachi-GE Nuclear Energy Ltd underwrote a project for the Department of Energy (DOE) of United States. According to the agreement, the former was entitled with the development of operational tools while continuing the advancement of nuclear reactors with the use of Artificial Intelligence-based digital twins.
SembCorp Industries
In August 2019, an equity capital worth USD 101.6 million was infused into SembCorp Energy India Ltd by SembCorp Industries, a Singapore-based energy firm.
ROSATOM
On December 2020, ROSATOM signed an agreement with Nuclear Power Corporation of India Limited. According to the agreement, nuclear fuel is supposed to be supplied by RUSATOM for the Kudankulam Reactors.
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Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Nuclear Power Plant and Equipment Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Nuclear Power Plant and Equipment Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Nuclear Power Plant and Equipment caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Nuclear Power Plant and Equipment Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Nuclear Power Plant and Equipment Market
v Identification of key factors driving investment opportunities in the Nuclear Power Plant and Equipment Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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