Global Nuclear Power Plant Equipment Market Size, Share, Growth Analysis, By Reactor Type(Pressurized Water Reactor (PWR), Pressurized Heavy Water Reactor (PHWR)), By Equipment Type(Isl, Equipment) - Industry Forecast 2022-2028

Global Nuclear Power Plant Equipment Market was valued at USD 31.65 billion in 2021 and is expected to reach USD 35.57 billion by 2028. The market is expected to grow more at a CAGR of 2.65% over the forecast period (2022-2028).

Global Nuclear Power Plant Equipment refers to the consumption and production of Nuclear Power Plant Equipment in the Asia Pacific region. The Asia Pacific region includes countries such as China, India, Japan, South Korea, Australia, and New Zealand, among others. Top-down and bottom-up approaches were used to estimate and validate the size of Global Nuclear Power Plant Equipment and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

The global nuclear power plant equipment market segmentation is based on reactor type, equipment type, and region. Based on reactor type the market is segmented into a pressurized water reactor (PWR), pressurized heavy water reactor (PHWR), boiling water reactor (BWR), light water graphitereactor (HTGR), gas-cooled reactor (GCR), and other. Based on equipment type the market is segmented into island equipment and auxiliary equipment. Based on region the global nuclear power plant equipment market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

Nuclear power plants produce greater amounts of energy while emitting lower levels of carbon pollution compared to thermal power stations. The expected growth in the market is driven by the increasing demand for energy and the need for clean power generation. The government's initiatives to reduce greenhouse gases have accelerated advancements in nuclear reactor technology, which is likely to bolster the global nuclear power equipment market. Furthermore, the growing modernization of developed and emerging economies is expected to contribute to the market's expansion.

Restraint

Raising funds for nuclear power plant projects poses a significant obstacle in meeting the demand for equipment in such facilities. The market outlook is further impacted by the availability of low-priced renewable energy, which produces minimal emissions. Furthermore, the growth of the market in the foreseeable future may be restricted due to the difficulties associated with managing radioactive waste.

Trend

The operators of Pressurized Water Reactors (PWRs) select these types of reactors due to their superiority and increased concerns over the safety of nuclear power facilities. PWRs are considered the best option among various nuclear reactor types, as they are equipped to prevent radioactive material contamination of water, thereby contributing to the mitigation of climate change. Consequently, the market for nuclear power plant equipment is anticipated to experience significant growth due to the increasing demand for PWRs throughout the projected period. This trend reflects the growing emphasis on safety and sustainability in the nuclear power industry.