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Nuclear Power Plant and Equipment Market 2021 Demand & Future Growth Opportunity by 2025

02-22-2021 02:07 PM CET | Energy & Environment

Press release from: Allied Market Research

Nuclear Power Plant and Equipment Market

Nuclear Power Plant and Equipment Market

Increased demand for nuclear power plants in developing countries and rise in need to produce clean energy have boosted the growth of the global nuclear power plant and equipment market. However, high initial cost of nuclear power equipment hampers the market growth. On the contrary, countries in the Middle East have been focusing on developing the nuclear energy infrastructure, which in turn would offer lucrative opportunities for the market players in future.

Based on reactor type, the market is segmented into high temperature gas-cooled reactor (HTGR), pressurized water reactor (PWR), boiling water reactor (BWR), pressurized heavy water reactor (PHWR), fast breeder reactor (FBR), and others. Pressurized water reactor (PWR) is the most lucrative reactor type segment in the nuclear power plant and equipment market owing to their stability at higher temperature, which makes the reactor easier to operate from a stability standpoint.

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Based on equipment type, the market is bifurcated into island equipment and auxiliary equipment. The auxiliary equipment segment is projected to exhibit highest growth, as it plays a crucial role in operational safety and has a wide range of applications in a nuclear plant. Furthermore, the general performance of auxiliary equipment deteriorates with time, which in turn affects its efficiency. Thus, need to replace the equipment further fuels the demand for auxiliary equipment in a nuclear power plant.

Asia-Pacific contributed about half of the total share in 2017, owing to the increased demand for electricity and power outages in the region. Moreover, increasing incidence of chronic smog in countries such as India and China is expected to boost the demand for cleaner energy alternatives such as nuclear power. Thus, the Asia-Pacific region is expected to register the fastest CAGR of 4.5% during the forecast period. The other regions discussed in the report are North America, Europe, and LAMEA.

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The leading companies profiled in the report are Shanghai Electric Group Co., Ltd., Larsen & Toubro Limited., Dongfang Electric Corp. Ltd., Toshiba, Doosan Corporation, General Electric, Mitsubishi Heavy Industries, Ltd., BWX Technologies, Inc., ROSATOM (ROSATOM State Atomic Energy Corporation), and Korea Electric Power Corporation.

Key Finding of the Nuclear Power Plant and Equipment Market :

The pressurized water reactor (PWR) segment accounted for nearly two-thirds share in the nuclear power plant and equipment market in 2017.

The auxiliary equipment segment is anticipated to grow with the highest CAGR of 3.9% during the forecast period.

Asia-Pacific is anticipated to grow at the highest rate in the nuclear power plant and equipment market during the forecast period.

North America occupied nearly one-seventh share in the global market in 2017.

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About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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