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