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The Global Nuclear Power Plant Equipment Market is estimated to grow at a CAGR of around 3.76% during the forecast period, i.e., 2023-28.
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MARKET RESEARCH REPORT Global Nuclear Power Plant Equipment Market Research Report: Forecast (2023-2028) UPDATED SAMPLE 2024-30 MARKNTEL ADVISORS
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Market Insights The Global Nuclear Power Plant Equipment Market is estimated to grow at a CAGR of around 3.76% during the forecast period, i.e., 2023-28. The market growth is attributed to the rising requirement for electricity, coupled with the growing need for reliable and sustainable energy sources across the globe. Also, the increasing government initiatives to decarbonize industrial sectors including industrial processes that require combustion and transport, especially heavy-duty, maritime, and air transport.
Market Drivers Addressing the Growing Demand for Clean Electricity Addressing the Growing Demand for Clean Electricity - - During the historical years, nuclear energy has remained a leading source of historical years, nuclear energy has remained a leading source of clean electricity across the globe. Also, nuclear power made up clean electricity across the globe. Also, nuclear power made up about 10% of global electricity generation in 2021, and this share about 10% of global electricity generation in 2021, and this share has declined from 18% in the late 1990s, but nuclear is still the has declined from 18% in the late 1990s, but nuclear is still the second second- -largest source of low largest source of low- -emissions electricity (i.e. non emissions electricity (i.e. non- -fossil based) after hydroelectricity and the leading source in advanced based) after hydroelectricity and the leading source in advanced economies. Countries such as the US, Germany, the UK, etc., have economies. Countries such as the US, Germany, the UK, etc., have set ambitious targets to reduce carbon emissions and combat set ambitious targets to reduce carbon emissions and combat climate change. climate change. During the fossil- -
Market Segments By Type of Reactor (Pressurized Water Reactor (PWR), Pressurized Heavy Water Reactor (PHWR), Boiling Water Reactor (BWR), Others (Gas Cooled Reactor (GCR), Light Water Graphite Reactor (LWGR), etc.)), By Equipment Type (Island Equipment, Auxiliary Equipment), By Demand Type (OEM, Replacement), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific)
Top Companies General Electric, Shanghai Electric, Mitsubishi Heavy Industries, L&T Heavy Engineering, Toshiba Energy System & Solutions Corporation, Dongfang Electric Corporation, Doosan Corporation, BWX Technologies, Inc.,Terrestrial Energy Inc., AREVA S.A., NuScale Power Corporation and Other
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