Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Nuclear Power Plant and Equipment Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Nuclear Power
Plant and Equipment Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global Nuclear Power Plant and Equipment Market over the short as well as long period of time. A detailed
presentation of forecast, trends, and dollar values of global Nuclear
Power Plant and Equipment Market is offered. In
accordance with the report, the global Nuclear Power Plant and Equipment
Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
A
thermal power station where the heat is sourced from a nuclear reactor is
called a nuclear power plant. A typical nuclear power plant uses heat for the
generation of steam which is the driver of a steam turbine attached to a
generator that leads to electricity production. The various components like
fuel handling, reactor assembly, and many more that are used in a nuclear power
plant are nuclear power plant equipment. Obninsk Nuclear Power Plant located at
Obninsk of Soviet Russia was the globe’s first nuclear power plant that started
operation on June 27th, 1954.
Market Drivers
The
soaring demand for energy and the creation and rising drive for clean
electricity from a variety of end users is providing the initial impetus to the
growth of the nuclear power plant and equipment market. Most of the nations are
looking forward to adopt cleaner methods of power generation.
The depletion
of non-renewable fossil fuels that were used in the production of energy are
not a reliable source of energy in the near future. At present, the fluctuating
price of fossil fuels and its adverse effect on electricity prices is
compelling the consumers to look out for cheaper alternative sources of
electricity and is driving this market.
For
many nations, nuclear power plants are backup for securing energy and
electricity. For the mitigation of the negative impacts of constantly changing
climate cycle and air pollution, nuclear power plants and equipment is a good
choice. Such preference is empowering the growth of this market.
The skyrocketing
demand for electricity from the industrial sector to satiate the needs of huge
quantity of power for industrial processing of both developed and developing
nations coupled with the rapid pace of industrialization in some of the
developing nations is charging up the nuclear power plant and equipment market.
The
ability of nuclear power plants to produce electricity at moderate cost and the
necessary a moderate size of plant is propelling the growth of the nuclear
power plant and equipment market.
Market Restraints
The
operation of nuclear power plants generates radioactive waste. The complexity
arising with the dumping of this waste since it is averse to human health is
hampering the growth of this market.
The
setting up of a nuclear power plant and equipment needs heavy capital
investment. In addition to this, the operation of nuclear power plants with
respect to nuclear power projects needs adequate funding which is not looked
after and is straining this market.
Nuclear
disaster like the Fukushima disaster in Japan has resulted in a pessimistic
approach towards the development of nuclear power plants and deployment of
nuclear energy.
The
moderate cost of renewable that is inculcated with nuclear-based emissions is
hindering the growth of the nuclear power plant and equipment market.
Opportunities
The
widening dependence on the nuclear energy generated by nuclear power plants and
equipment is likely to be a bankable opportunity for the participants of this
market.
The
scarcity of power and the inevitability of smog in some of the developing
economies is likely to be good scope for kickstarting this market.
Advancing
science and technology coupled with research and development in this sector is
likely to provide lucrative opportunities to the nuclear power plant and
equipment market.
Trends
North
America is projected to showcase rapid market growth in the forecast period.
This can be traced back to the fact that USA is the dominant producer of
nuclear energy, producing a share of 30% of total nuclear power generation.
Moreover, the rising demand power as well as clean energy coupled with the
niche curved by the government for supporting the growth of nuclear power plant
and equipment is positively affecting the growth in this region. Asia-Pacific
is projected to follow North America in terms of rapidity of economic growth
owning the spurring demand of energy, population growth, industrialization, the
setting up of nuclear power plants and constantly developing economies. The
growing need for electricity is likely to make Middle East and Africa’s nuclear
power plant and equipment market progress in the forecast period.
Segment Covered:
This market
intelligence report on the global Nuclear Power Plant and Equipment Market encompasses market segments based on reactor type, equipment
type, and country.
By Reactor
Type the global Nuclear Power Plant and Equipment Market has been divided into:
q High
Temperature Gas-Cooled Reactor (HTGR)
q Pressurized
Heavy Water Reactor (PHWR)
q Boiling
Water Reactor (BWR)
q Pressurized
Water Reactor (PWR)
q Other
Reactors
By Equipment Type the global Nuclear
Power Plant and Equipment Market has been divided into:
q Auxiliary
Equipment
q Island
Equipment
By country/region,
the global Nuclear Power Plant and Equipment Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Hitachi-GE
Nuclear Energy Ltd
q SembCorp
Industries
q ROSATOM
q Larsen
& Toubro Ltd
q Babcock
and Wilcox Company
q Mitsubishi Heavy Industries
q Dongfang Electric Corporation Ltd
q Alstom S.A.
q AREVA SA
q BWX Technologies
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Nuclear Power Plant and Equipment Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
Hitachi-GE Nuclear Energy Ltd
In March 2020,
Hitachi-GE Nuclear Energy Ltd underwrote a project for the Department of Energy
(DOE) of United States. According to the agreement, the former was entitled
with the development of operational tools while continuing the advancement of
nuclear reactors with the use of Artificial Intelligence-based digital twins.
SembCorp Industries
In August 2019,
an equity capital worth USD 101.6 million was infused into SembCorp Energy
India Ltd by SembCorp Industries, a Singapore-based energy firm.
ROSATOM
On December
2020, ROSATOM signed an agreement with Nuclear Power Corporation of India
Limited. According to the agreement, nuclear fuel is supposed to be supplied by
RUSATOM for the Kudankulam Reactors.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Nuclear
Power Plant and Equipment Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Nuclear Power Plant and Equipment Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Nuclear Power Plant and Equipment caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Nuclear
Power Plant and Equipment Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Nuclear Power Plant and Equipment Market
v
Identification
of key factors driving investment opportunities in the Nuclear Power
Plant and Equipment Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants