Nuclear Steam Generator Market
On the bases of dimensions, the global nuclear steam generator market can be divided into horizontal and vertical steam generator. Countries such as Canada, Japan, France and Germany use vertical form of nuclear steam generators to generate electricity from nuclear power plant, whereas Russian nuclear plants majorly use horizontal form of nuclear steam generator to generate electricity.
Europe has the largest market share for nuclear steam generator, followed by Asia Pacific and North America. Russia is the largest consumer for nuclear steam generator globally. Europe is expected to dominate in the forecasted period with North America showing average growth. However, Asia Pacific is expected to witness highest growth in the coming years. Increasing number of nuclear power plant in the countries such as China, Japan, and India are expected to boost the Asia Pacific market in forecasted period.
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Rising number of nuclear power plant around the globe especially in countries such as Russia, China and India is driving the global nuclear steam generator market. Additionally, to increase the electric generating capacity many nuclear plant are changing their generating system, this is further expected to increase the demand for nuclear steam generator in coming years. Also, shortage of electricity in the countries such as India is further expected to increase the electricity demand from the nuclear power plants. This may increase the demand for nuclear steam generator to generate electricity to some extent. However, high cost of installation associated with the nuclear steam generator is expected to hamper the global nuclear steam generator market, but at very niche level.
Increasing investment by the governments of the Asian countries to increase generation of electricity from the nuclear plants is propelling the global nuclear steam generator manufacturers to invest more in the developing countries of Asia Pacific. Some of the major companies operating in the global nuclear steam generator market are Mitsubishi Heavy Industries, Westinghouse Electric, Atomic Energy of Canada, Bharat Heavy Electricals, Korea Electric Power Corporation and GE Hitachi Nuclear Energy.
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