Global Nuclear Power Plant and Equipment Market was valued US$ 36.2 Bn and is estimated to reach US$ 49.8 Bn by 2026 at a CAGR of 4 % during the forecast.
Global nuclear power plant and equipment market is segmented by reactor, by equipment and by region. Based on reactor type nuclear power plant and equipment 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. In terms of equipment, global nuclear power plant and equipment market is divided into island equipment and auxiliary equipment. Geographically, nuclear power plant and equipment market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Rising demand for nuclear power plants in developing countries and rise in need to produce green energy have boosted the growth of the nuclear power plant and equipment market. Whereas, high initial cost of nuclear power equipment and alternatives limits the market growth. Risk of nuclear power plant accident that can lead to core fuel damage with the potential to release contamination and hydrogen (H2) act as challenge for market. Middle East region is focusing on developing the nuclear energy infrastructure, which is foreseen to offer lucrative opportunities for the market in forecast. Nuclear electricity generation capacity in the Middle East is expected to grow from 3.6 GW to 13.9 GW by 2026.
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Global Nuclear Power Plant and Equipment Market
Pressurized water reactor type segment held about two third of market share in 2017. Pressurized water reactor segment is expected to grow the fastest at a CAGR of 4.0% during the forecast period. Main advantage of pressurized water reactor is it is easy to operate because less power is being produced as the heat increases. In addition, the core of the reactor contains less fissile material, decreasing the chances of additional fission events to occur, making the reactor safer and more controllable. Lastly, the most advantageous element of the PWR is the turbine cycle.
Auxiliary equipment segment is the major contributor by revenue as well as the fastest growing segment in the nuclear power plant and equipment market. In 2017, the segment held more than three-fourths share of the market and is expected to register the fastest CAGR of 3.9% during the study period. It plays a pivotal role in safe operations and has a wide range of applications in a nuclear plant.
EDF, Babcock and Wilcox Company, Dongfang Electric Corporation Ltd, Doosan, Hitachi-GE Nuclear energy Ltd, Korea Hydro and Nuclear Power Co. Ltd, Larsen & Toubro Ltd, Mitsubishi Heavy Industries Ltd S.Angai Electric, China General Nuclear Power Group, Exelon Generation Co. LLC, Toshiba Corporation, Westinghouse Electric Corporation, Shanghai Electric Group Co., Ltd., Mitsubishi Heavy Industries, Ltd., Larsen & Toubro Limited, BWX Technologies, Inc., Dongfang Electric Corp. Ltd., ROSATOM, Toshiba, Doosan Corporation, Korea Electric Power Corporation, and General Electric are key players involved in the nuclear power plant and equipment market.
Scope of the Global Nuclear Power Plant and Equipment Market
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Global Nuclear Power Plant and Equipment Market by Reactor:
• High Temperature Gas-Cooled Reactor (HTGR)
• Pressurized Water Reactor (PWR)
• Boiling Water Reactor (BWR)
• Pressurized Heavy Water Reactor (PHWR)
• Fast Breeder Reactor (FBR)
Global Nuclear Power Plant and Equipment Market by Equipment:
• Island Equipment
• Auxiliary Equipment
Global Nuclear Power Plant and Equipment Market by Region:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
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Key Player analysed in Global Nuclear Power Plant and Equipment Market:
• Babcock and Wilcox Company
• Dongfang Electric Corporation Ltd
• Hitachi-GE Nuclear energy Ltd
• Korea Hydro and Nuclear Power Co. Ltd
• Larsen & Toubro Ltd
• Mitsubishi Heavy Industries Ltd S.Angai Electric
• China General Nuclear Power Group
• Exelon Generation Co. LLC
• Toshiba Corporation
• Westinghouse Electric Corporation
• Shanghai Electric Group Co., Ltd.
• Mitsubishi Heavy Industries
• Larsen & Toubro Limited
• BWX Technologies, Inc.
• Dongfang Electric Corp. Ltd.
• Doosan Corporation
• Korea Electric Power Corporation
• General Electric