Dublin, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The "Global Nuclear Power Plant Equipment Market by Reactor Type (Pressurized Water Reactor (PWR), Pressurized Heavy Water Reactor (PHWR), Boiling Water Reactor (BWR)), Equipment Type (Island Equipment, Auxiliary Equipment) Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
At a projected CAGR of 3.5% during the forecast period, the market for equipment for nuclear power plants is expected to grow from an estimated USD 15.7 billion in 2022 to USD 18.6 billion by 2030. A rise in the demand for clean electricity globally is driving the market for nuclear power plants and related equipment.
Governments are looking for efficient and clean energy sources like nuclear power as the need for energy increases. Additionally, technological advancements in nuclear power machinery have aided industry expansion. Both nuclear propulsion for ships and nuclear power plants use nuclear reactors to produce electricity. Because less polluting electricity is produced by nuclear power plants, the market for their equipment has a hopeful future.
From 2023 to 2027, the PWR reactor is expected to be the largest segment in reactor types market
The market for nuclear power plant equipment is dominated by the pressurised water reactor (PWR) sector. Due to their vast fleet size, Pressurized Water Reactors (PWR) are predicted to dominate the industry. Estimates indicate that the PWR sector has a sizable market share. Since PWR reactors maintain their stability at high temperatures, they are simple to run in terms of stability. The 442 operable reactors around the world include 302 PWR reactors with a 287 GWe capacity.
The Island type equipment section is predicted to be the fastest expanding segment between 2023 and 2027
The market for nuclear power plant equipment is divided into two categories: island equipment and auxiliary equipment, with the island segment accounting for the biggest share. Island equipment types currently dominate the market and are anticipated to do so during the projection period due to their major contribution to operational safety and broad range of applications in nuclear power plants. In addition, island equipment makes up 12.6% of the entire capital cost of nuclear power plants, making it more expensive than oxidative equipment.
| Report Attribute | Details |
| No. of Pages | 152 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $15.7 Billion |
| Forecasted Market Value (USD) by 2027 | $18.6 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Growing Demand for Clean Energy
- Rising Need for Energy Security
Restraints
- Long Construction Period and High Cost of Construction
- Negative Public Perception Toward Nuclear Energy
Opportunities
- Rising Need for Sustainability and Decarbonization Globally
Challenges
- High Cost of Storage, Transportation, and Disposal of Used Fuel
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Nuclear Power Plant Equipment Market, by Reactor Type
6.1 Introduction
6.2 PWR
6.3 PHWR
6.4 BWR
6.5 Others
7 Nuclear Power Plant Equipment Market, by Equipment Type
7.1 Introduction
7.2 Island Equipment
7.3 Auxiliary Equipment
8 Nuclear Power Plant Equipment Market, by Region
9 Competitive Landscape
10 Company Profiles
11 Appendix
Companies Mentioned
- Aem-Technology
- Areva SA
- Atomstroyexport Jsc
- Babcock & Wilcox
- BWX Technologies, Inc.
- China General Nuclear Power Group
- Dongfang Electric Corporation
- Doosan Corporation
- EDF
- Exelon Corporation
- General Electric
- Hitachi-GE Nuclear Energy, Ltd.
- Larsen & Toubro Limited
- Mitsubishi Heavy Industries, Ltd.
- Nuscale Power, LLC.
- Shanghai Electric
- Terrestrial Energy Inc.
- The State Atomic Energy Corporation (Rosatom)
- Toshiba Energy Systems & Solutions Corporation
- Westinghouse Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/tjqr12-nuclear?w=12
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