Nuclear Power Plant and Equipment Market 2021 Demand, Segmentation, Strategies, Top Players and Challenges With Forecast To 2025

Rise in demand from developed countries, such as North America and Europe, which environmental problems due to use of electricity generated from fossil fuels drives the growth of the nuclear power plant and equipment market. In addition, consistent technological advancements in nuclear power equipment such as reactors, also contribute toward the market growth. However, cost of the nuclear power plant and management of radioactive waste are the factors expected to hamper the growth of the market. Conversely, promising growth of nuclear power in the developing countries of the Asia-Pacific region, owing to rise in industrial sector and economic development offer lucrative growth opportunities.

The global nuclear power plant and equipment market is segmented based on reactor type, equipment type, and region. Based on reactor type, it is categorized 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. By equipment type, the market is bifurcated into island equipment and auxiliary equipment. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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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.

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.

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The major players profiled in this study include Shanghai Electric Group Co., Ltd., Mitsubishi Heavy Industries, Ltd., Larsen & Toubro Limited, BWX Technologies, Inc., Dongfang Electric Corp. Ltd., ROSATOM (ROSATOM State Atomic Energy Corporation), Toshiba, Doosan Corporation, Korea Electric Power Corporation, and General Electric.

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.

In 2017, Europe and Asia-Pacific collectively accounted for more than three-fourths of the global nuclear power plant and equipment market, in terms of value. This is attributed to the growth in inclination toward nuclear energy.

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