Nuclear Power Market Insights and Future Growth Forecast 2024 - 2031 | GE-Hitachi Nuclear Energy Inc., Westinghouse Electric Company LLC

Market Overview:

The global nuclear power market is estimated to be valued at USD 35.27 Bn in 2024 and is expected to reach USD 46.10 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.

Market Dynamics:

The growing demand for clean energy across the globe is driving the growth of the nuclear power market. Nuclear power produces zero direct CO2 or other greenhouse gas emissions during operation, making it an attractive option for generating electricity in a sustainable manner. Additionally, several countries are investing heavily in new nuclear reactor construction to reduce reliance on fossil fuels and meet climate targets. For instance, China, India, Russia, and South Korea are expanding their nuclear power production capacities. Further, improvements in small modular reactor (SMR) designs are making nuclear energy more flexible and competitive compared to other large-scale generation sources. SMRs have the potential to lead to more investment in new nuclear construction globally over the coming years.

🔍 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/5063?utm_source=openpr.com&utm_medium=referral

Major market drivers for Nuclear Power:

Increasing global demand for energy:

The global demand for energy is continuously increasing with rapid industrialization and population growth. Nuclear energy provides a reliable and affordable source to fulfill the increasing baseload energy demand. According to estimations, the global energy demand is projected to increase by nearly 50% by 2050. Nuclear power with its high energy density can effectively meet this rising demand for energy in a sustainable manner.

Major market opportunity for Nuclear Power:

Supportive government policies and investments in Small Modular Reactors:

Many governments around the world are promoting research, development and deployment of small modular reactors (SMRs) which have lower upfront costs compared to large nuclear plants. SMRs offer advantages such as increased safety due to smaller size, modular construction approach, enhanced proliferation resistance and reduced costs due to factory fabrication and economies of scale in construction. Countries like US, Canada, Russia, China, and India are investing heavily in SMR technology. This emerging niche segment provides new growth opportunities and can accelerate the adoption of nuclear power.

Major market trend for Nuclear Power:

Increasing focus on extending operational life of existing reactors:

As building new nuclear plants is capital intensive, several operators are exploring possibilities to lengthen the operating lifetimes of existing reactors through equipment upgrades and maintenance projects. Regulators in different countries are allowing operating license extensions from initial 40-60 years to 80 years and beyond on a case-to-case basis subject to safety assessments. This trend enables existing assets to produce energy for longer durations, provides a short-term boost to the nuclear sector and allows more time for new construction activities. It is an important strategy to ensure energy security and low-carbon baseload supply.

🛒 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/5063

Top Companies Included in This Report:

• GE-Hitachi Nuclear Energy Inc.
• Westinghouse Electric Company LLC
• STP Nuclear Operating Company
• SKODA JS AS
• China National Nuclear Corporation
• Bilfinger SE
• BWX Technologies Inc.
• Doosan Heavy Industries & Construction Co. Ltd
• Mitsubishi Heavy Industries Ltd
• Bechtel Group Inc.
• Japan Atomic Power Co.
• Rosatom Corp.
• KEPCO Engineering & Construction
• Areva
• Framatome
• Bharat Heavy Electricals Limited
• SENPEC

Market Segmentation:

By Product Type:

• By Reactor Type: Pressurized Water Reactor and Pressurized Heavy Water Reactor , Boiling Water Reactor , High-temperature Gas-cooled Reactor , Liquid Metal Fast Breeder Reactor , and Other Reactor Types

By Applications:

• By Application : Energy , Defence , and Others

Key Regions/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/5063

The report offers insights on the following topics:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Competitor Landscape of the Nuclear Power Market by Players

Chapter 4: Market Size of the Nuclear Power Market by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, Recent Developments, and Investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

Ultimately, the Nuclear Power Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Nuclear Power industry.

Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

☎ Contact Us:

Mr. Shah
Senior Client Partner - Business Development
Coherent Market Insights

Phone:

US: +1-206-701-6702
UK: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.