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Global Nuclear Power Plant and Equipment Market Size, Share, Analysis, Growth, Forecast: By Reactor Type: PWR (Pressurised Water Reactor), PHWR (Pressurised Heavy Water Reactor), Boiling Water Reactor (BWR), Light Water Graphite Reactor (LWGR), Gas Cooled Reactor (GCR), Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Nuclear Power Plant and Equipment Market Outlook
The global nuclear power plant and equipment market size reached approximately USD 38.7 billion in 2022. The market is assessed to grow at a CAGR of 4.30% between 2023 and 2028, reaching a value of nearly USD 49.82 billion by 2028.
Key Trends in the Market
Nuclear power plants are a type of electricity generation plant that uses the process of nuclear fission to generate power/electricity. These power plants utilise chain reactions to produce heat, which is then used to generate electricity. To ensure the proper operation of the facility, multiple pieces of equipment are used, such as condensers, cooling systems, and monitoring systems, among others.
- Nuclear energy presents a much cleaner and more reliable way to generate energy on a large scale. With the increasing global focus on carbon emission reduction and the growing demand for clean energy, nuclear energy has been gaining attention as a stable source of electricity generation. Hence, the rising demand for clean energy is a major trend driving the global nuclear power plant and equipment market growth.
- Many countries are aiming to diversify their energy mix to reduce vulnerability to geopolitical risks and price volatility associated with fossil fuel imports. As nuclear power plants contribute to energy security by reducing dependence on imported fossil fuels and serve as a domestic and independent energy source, the nuclear power plant and equipment market value is increasing.
- Governments worldwide are increasingly investing in nuclear energy plants as a source of generating clean energy while reducing greenhouse gas emissions. In addition, the increased focus on nuclear energy has propelled technological advancements, which are likely to propel the nuclear power plant and equipment market expansion.
Market Analysis
Based on reactor type, the market is segmented into PWR (Pressurised Water Reactor), PHWR (Pressurised Heavy Water Reactor), boiling water reactor (BWR), light water graphite reactor (LWGR), and gas cooled reactor (GCR), among others. On the basis of equipment type, the market can be bifurcated into island equipment and auxiliary equipment.
The market, based on application, can be segmented into military and public utilities, among others. The major regional markets for nuclear power plant and equipment include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global nuclear power plant and equipment market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- State Atomic Energy Corporation Rosatom (ROSATOM)
- BWX Technologies, Inc.
- Dongfang Electric Co., Ltd.
- Alstom SA
- General Electric
- Korea Electric Power Corporation
- Toshiba Energy Systems & Solutions Corporation
- Mitsubishi Heavy Industries, Ltd.
- L&T Heavy Engineering
- Doosan Corporation
- Others
Market Share by Equipment Type
Island equipment is expected to witness considerable growth due to its vital role in ensuring operational safety and its diverse applications within a nuclear power plant. Island equipment proves to be cost-effective when compared to auxiliary equipment.
On the other hand, the auxiliary equipment segment is anticipated to experience remarkable growth during the projected period. This growth can be attributed to the noteworthy characteristic of auxiliary equipment, which guarantees reliability and increases the safety of nuclear power plants.
Market Share by Region
The Asia Pacific region holds a major share of the market, owing to the presence of key players and established power plants in various countries. China itself accounts for the maximum share of the market, attributed to the 53 operational reactors present in the country.
Furthermore, governments in countries like India, Indonesia, and South Korea are tapping into the potential of nuclear energy as a clean energy source and implementing plans for nuclear power development.
Competitive Landscape
State Atomic Energy Corporation Rosatom is a global leader operating in the nuclear sector. The company is headquartered in Moscow and was established in 2007. The company’s expertise lies in nuclear energy and it has developed integrated clean energy solutions for the international nuclear supply chain. Some of its services include nuclear power plant construction, nuclear fuel fabrication, and uranium mining and enrichment, among others.
BWX Technologies, Inc. is one of the major suppliers of nuclear components and fuel to the US government. The company was founded in 1867, and its headquarter is currently located in Virginia, the United States. The company has a strong focus on safety, quality, and innovation throughout its operations. It collaborates with various government agencies, private organisations, and research institutions to advance nuclear technology.
Dongfang Electric Co., Ltd. is one of the largest power generation equipment manufacturers in China. It has become a key player in the global power sector, specialising in the design, manufacturing, and servicing of a wide range of power generation equipment.
Other market players include Alstom SA, General Electric, Korea Electric Power Corporation, Toshiba Energy Systems & Solutions Corporation, Mitsubishi Heavy Industries, Ltd., L&T Heavy Engineering, and Doosan Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Reactor Type |
|
| Breakup by Equipment Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Nuclear Power Plant and Equipment Market Analysis
8.1 Key Industry Highlights
8.2 Global Nuclear Power Plant and Equipment Historical Market (2018-2022)
8.3 Global Nuclear Power Plant and Equipment Market Forecast (2023-2028)
8.4 Global Nuclear Power Plant and Equipment Market by Reactor Type
8.4.1 PWR (Pressurised Water Reactor)
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 PHWR (Pressurised Heavy Water Reactor)
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Boiling Water Reactor (BWR)
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Light Water Graphite Reactor (LWGR)
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Gas Cooled Reactor (GCR)
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Global Nuclear Power Plant and Equipment Market by Equipment Type
8.5.1 Island Equipment
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Auxiliary Equipment
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Nuclear Power Plant and Equipment Market by Application
8.6.1 Military
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Public Utilities
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Others
8.7 Global Nuclear Power Plant and Equipment Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Nuclear Power Plant and Equipment Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Nuclear Power Plant and Equipment Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Nuclear Power Plant and Equipment Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Nuclear Power Plant and Equipment Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Nuclear Power Plant and Equipment Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 State Atomic Energy Corporation Rosatom (ROSATOM)
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 BWX Technologies, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Dongfang Electric Co., Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Alstom SA
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 General Electric
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Korea Electric Power Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Toshiba Energy Systems & Solutions Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Mitsubishi Heavy Industries, Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 L&T Heavy Engineering
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Doosan Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Nuclear Power Plant and Equipment Market: Key Industry Highlights, 2018 and 2028
2. Global Nuclear Power Plant and Equipment Historical Market: Breakup by Reactor Type (USD Million), 2018-2022
3. Global Nuclear Power Plant and Equipment Market Forecast: Breakup by Reactor Type (USD Million), 2023-2028
4. Global Nuclear Power Plant and Equipment Historical Market: Breakup by Equipment Type (USD Million), 2018-2022
5. Global Nuclear Power Plant and Equipment Market Forecast: Breakup by Equipment Type (USD Million), 2023-2028
6. Global Nuclear Power Plant and Equipment Historical Market: Breakup by Applications (USD Million), 2018-2022
7. Global Nuclear Power Plant and Equipment Market Forecast: Breakup by Applications (USD Million), 2023-2028
8. Global Nuclear Power Plant and Equipment Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Nuclear Power Plant and Equipment Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Nuclear Power Plant and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Nuclear Power Plant and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Nuclear Power Plant and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Nuclear Power Plant and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Nuclear Power Plant and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Nuclear Power Plant and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Nuclear Power Plant and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Nuclear Power Plant and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Nuclear Power Plant and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Nuclear Power Plant and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Nuclear Power Plant and Equipment Market Structure
Key Questions Answered in the Report
In 2022, the market reached an approximate value of USD 38.7 billion.
The market is projected to grow at a CAGR of USD 4.30% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a value of around USD 49.82 billion by 2028.
The major driving factors of the market include the rising demand for island equipment, technological advancements, and the growing demand for clean energy.
The key trends fuelling the market include increasing government support for the development of sustainable energy generation and strict regulations to reduce carbon emissions.
The major regions in the market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different applications of the product are military and public utilities, among others.
The key players in the global nuclear power plant and equipment market include State Atomic Energy Corporation Rosatom (ROSATOM), BWX Technologies, Inc., Dongfang Electric Co., Ltd., Alstom SA, General Electric, Korea Electric Power Corporation, Toshiba Energy Systems & Solutions Corporation, Mitsubishi Heavy Industries, Ltd., L&T Heavy Engineering, and Doosan Corporation, among others.
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