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Demand in the global nuclear power market is projected to increase from its 2022 estimate of 423.22 gigawatt to reach approximately 498.41 gigawatt by 2030, expanding at a CAGR of 2.7% between 2023 and 2030.
Nuclear power is an important source of low-carbon heat and electricity for achieving carbon neutrality. In the future, a decarbonized energy mix will include nuclear power alongside variable renewables and fossil fuels with carbon capture and storage (CCS) thanks to new technologies presently under development. In order to generate electricity, modern nuclear power plants use heat to turn water into steam, which then spins a turbine. Nuclear power plants use refined versions of uranium, plutonium, and (potentially) thorium as fuel instead of hydrocarbons. Within a reactor, heat is produced not by burning fossil fuels but by nuclear fission. Fission releases around a million times more energy than burning.
During the projected period, the market is expected to expand in response to the rising demand for electricity brought on by a growing and increasingly urbanised worldwide population. Nuclear power is a safe and effective way to keep up with this rising demand. Nuclear power is an excellent alternative for satisfying energy needs while simultaneously decreasing environmental impact because it does not emit greenhouse gas emissions or air pollution.
In addition, many nations now place a premium on cutting their carbon footprint in the face of mounting climate change anxiety. Nuclear power is a low-carbon energy option that can aid in the reduction of greenhouse gas emissions and the development of a more sustainable energy infrastructure. Nuclear power is a stable energy option that can aid with grid stabilisation because it is independent of the price fluctuations of fossil fuels. The nuclear power business is expanding because of the rising need for sustainable energy. During the projection period, many nuclear power plants are predicted to launch in different nations as a means to lessen reliance on fossil fuels and cut down on carbon emissions.
Increased competition from renewable sources is discouraging foreign direct investments and new nuclear power plant construction in many parts of the world. The government of South Korea, for instance, has pledged to halt nuclear construction and instead invest in renewable energy. The nuclear tragedy at Fukushima in 2011 has not yet fully healed in Japan. Due to public opposition and the high cost of enhancing safety, it has decided to forgo plans to restart its ageing reactors. It is anticipated that rising nuclear power plant accidents will slow the expansion of the market. The regulatory agencies have been harsher in terms of restrictions during the construction of nuclear power plants due to the incidence of mishaps in the past and the long-lasting influence it can have on human health.
Research and development for generation IV nuclear energy technologies is underway in several countries to improve nuclear power in terms of safety, technology, economy, and the environment. The United States Department of Energy's Office of Nuclear Energy, for instance, is working with a number of research institutions to advance nuclear energy technologies such as the Next Generation Nuclear Plant (NGNP), Advanced Reactor Concepts (ARC), and Advanced Small Modular Reactor (ASMR) into the fourth generation.
Report Coverage
Global Nuclear Power research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Nuclear Power report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Nuclear Power competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Nuclear Power market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Nuclear Power market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Nuclear Power market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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., and Rosatom Corp.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Nuclear Power market based on the below-mentioned segments:
Global Nuclear Power Market, By Reactor Type
Pressurized Water Reactors (PWRs)
Boiling Water Reactors (BWRs)
Pressurized Heavy Water Reactors (PHWRs)
Others
Global Nuclear Power market, By Application
Energy
Hydrogen Production
Global Nuclear Power Market, By Reactor Size
Large Reactors
Small Modular Reactors (SMRs)
Global Nuclear Power market, Regional Analysis
Nuclear power is an important source of low-carbon heat and electricity for achieving carbon neutrality. In the future, a decarbonized energy mix will include nuclear power alongside variable renewables and fossil fuels with carbon capture and storage (CCS) thanks to new technologies presently under development. In order to generate electricity, modern nuclear power plants use heat to turn water into steam, which then spins a turbine. Nuclear power plants use refined versions of uranium, plutonium, and (potentially) thorium as fuel instead of hydrocarbons. Within a reactor, heat is produced not by burning fossil fuels but by nuclear fission. Fission releases around a million times more energy than burning.
During the projected period, the market is expected to expand in response to the rising demand for electricity brought on by a growing and increasingly urbanised worldwide population. Nuclear power is a safe and effective way to keep up with this rising demand. Nuclear power is an excellent alternative for satisfying energy needs while simultaneously decreasing environmental impact because it does not emit greenhouse gas emissions or air pollution.
In addition, many nations now place a premium on cutting their carbon footprint in the face of mounting climate change anxiety. Nuclear power is a low-carbon energy option that can aid in the reduction of greenhouse gas emissions and the development of a more sustainable energy infrastructure. Nuclear power is a stable energy option that can aid with grid stabilisation because it is independent of the price fluctuations of fossil fuels. The nuclear power business is expanding because of the rising need for sustainable energy. During the projection period, many nuclear power plants are predicted to launch in different nations as a means to lessen reliance on fossil fuels and cut down on carbon emissions.
Increased competition from renewable sources is discouraging foreign direct investments and new nuclear power plant construction in many parts of the world. The government of South Korea, for instance, has pledged to halt nuclear construction and instead invest in renewable energy. The nuclear tragedy at Fukushima in 2011 has not yet fully healed in Japan. Due to public opposition and the high cost of enhancing safety, it has decided to forgo plans to restart its ageing reactors. It is anticipated that rising nuclear power plant accidents will slow the expansion of the market. The regulatory agencies have been harsher in terms of restrictions during the construction of nuclear power plants due to the incidence of mishaps in the past and the long-lasting influence it can have on human health.
Research and development for generation IV nuclear energy technologies is underway in several countries to improve nuclear power in terms of safety, technology, economy, and the environment. The United States Department of Energy's Office of Nuclear Energy, for instance, is working with a number of research institutions to advance nuclear energy technologies such as the Next Generation Nuclear Plant (NGNP), Advanced Reactor Concepts (ARC), and Advanced Small Modular Reactor (ASMR) into the fourth generation.
Report Coverage
Global Nuclear Power research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Nuclear Power report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Nuclear Power competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Nuclear Power market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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., and Rosatom Corp. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Nuclear Power Market from 2021 to 2030.
- Market Forecast for Nuclear Power Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Nuclear Power competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Nuclear Power
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Nuclear Power market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Nuclear Power market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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., and Rosatom Corp.
Primary Target Market
- Market Players of Nuclear Power
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Nuclear Power market based on the below-mentioned segments:
Global Nuclear Power Market, By Reactor Type
Pressurized Water Reactors (PWRs)
Boiling Water Reactors (BWRs)
Pressurized Heavy Water Reactors (PHWRs)
Others
Global Nuclear Power market, By Application
Energy
Hydrogen Production
Global Nuclear Power Market, By Reactor Size
Large Reactors
Small Modular Reactors (SMRs)
Global Nuclear Power market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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