Nuclear power is derived from nuclear fission, a process which releases enormous amounts of energy from the nuclei of atoms. Most nuclear power plants use enriched uranium as their fuel, as it has a higher amount of U-235 atoms. This makes it easier to split the atoms in a nuclear reactor. This technology is also reliable and does not contribute to climate change. It can be used to power submarines and long human missions to other planets.
Growing demand for clean energy and increasing number of contract for installation of nuclear power plant are major factor augmenting market growth of nuclear power. For instance, The International Atomic Energy Agency (IAEA's) program, SALTO (Safety Aspects of Long-Term Operation), a service for helping countries with the long-term operation of nuclear power plants, witnessed increased activities in the past few years. As of April 2020, 45 SALTO missions were conducted at 21 nuclear power plants in 17 countries, helping the countries increase the operational lifetime of nuclear power reactors.
On the other hand, intense competition due to renewable source of energy and growing number of accidents in nuclear power plant are projected to hinder the market growth.
Key features of the study:
- This report provides in-depth analysis of the global nuclear power market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022-2028), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global nuclear power market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include GE-Hitachi Nuclear Energy Inc., Westinghouse Electric Company LLC, STP Nuclear Operating Company, SKODA JS AS, China National Nuclear Corporation, Bilfinger SE, BWX Technologies Inc., Doosan Heavy Industries & Construction Co. Ltd, Mitsubishi Heavy Industries Ltd, Bechtel Group Inc., Japan Atomic Power Co., and Rosatom Corp..
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global nuclear power market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global nuclear power market
- Global Nuclear Power Market, By Application:
- Global Nuclear Power Market, By reactor Type
- Pressurized Water Reactor and Pressurized Heavy Water Reactor
- Boiling Water Reactor
- High-temperature Gas-cooled Reactor
- Liquid Metal Fast Breeder Reactor
- Other Reactor Types
- Global Nuclear Power Market, By Geography:
- North America
- South America
- Middle East & Africa