CHICAGO, Feb. 9, 2023 /PRNewswire/ -- Nuclear Power Plant Equipment Market is projected to reach USD 18.6 billion in 2027 from USD 15.7 billion in 2022 at a CAGR of 3.5% according to a new report by MarketsandMarketstm. The global Nuclear Power Plant Equipment Market is being pushed by increased demand for and generation of clean electricity around the world. As the demand for energy rises, governments seek clean and efficient energy sources such as nuclear power. Furthermore, technological developments in nuclear power equipment have supported market expansion. Nuclear reactors are used in nuclear power plants to generate electricity as well as in nuclear marine propulsion. The Nuclear Power Plant Equipment Market has promising growth potential due to the Electricity produced with less pollution. The global Nuclear Power Plant Equipment Market is driven by the growing demand of energy for high performance.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=3844928
Browse in-depth TOC on "Nuclear Power Plant Equipment Market"
81 - Tables
40 - Figures
155 - Pages
Nuclear Power Plant Equipment Market Scope:
USD 18.6 billion in 2027
3.5% of CAGR
Drivers, Restraints, Opportunities & Challenges
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Equipment Type, reactor type and region
Asia Pacific, Americas, Europe, and Middle East & Africa
Updated financial information / product portfolio of players
Key Market Opportunities
Rising need for sustainability and decarbonization globally
Key Market Drivers
Growing demand for clean energy
"The PWR segment, by reactor, is expected to be the largest and the fastest-growing market from 2023 to 2027"
Pressurized water reactor(PWR) segment holds the largest share of the Nuclear Power Plant Equipment Market. Pressurized Water Reactors (PWR) are anticipated to rule the industry due to their enormous fleet size. According to estimations, the PWR segment has a considerable market share. The following is a paraphrased version of the original article titled "The Paraphrased Furthermore, PWR reactors are easy to operate in terms of stability since they remain stable at high temperatures. There are 302 PWR reactors with a capacity of 287 GWe among the 442 operational reactors in the globe.
"The Island Equipment, by Equipment, is expected to be the fastest-growing market from 2023 to 2027"
The Nuclear Power Plant Equipment Market, by equipment, is divided into island and auxiliary, where in the island segment accounts for a largest share. island equipment type currently dominate the market and are expected to continue to do so during the forecast period due to their significant role in operational safety and a wide range of applications in nuclear power plants. In addition, these equipment are more expensive than oxidative equipment. 12.6% of nuclear power plant's total capital cost is made up of island equipment.
"From 2023 to 2027, Asia Pacific is predicted to be the largest and most rapidly increasing regional segment"
Asia Pacific dominated the Nuclear Power Plant Equipment Market in 2021 and is likely to continue its dominance during the forecasted period as well. It is one of the principal geographical areas in the world where nuclear power is expanding significantly. In Asia pacific, there are 140 operational nuclear power plants and 30-35 plants are under construction. The major nations in the region also have plans to develop an additional 60 to 70 reactors over the next few years. China is one of the fast growing countries in Asia Pacific, which is projected to register a CAGR of 4.3% during the forecast period. The Nuclear Power Plant Equipment Market is dominated by a few major players that have a wide regional presence.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=3844928
Nuclear Power Plant Equipment Market Dynamics:
Key Market Players:
The leading players in the Nuclear Power Plant Equipment Market such as General Electric (US), Mitsubishi Heavy Industries (Japan), Toshiba Energy System & Solutions Corporation (Japan), Doosan Corporation (South Korea). Westinghouse Electric Company (US), Shanghai Electric (China).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=3844928
Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting
Small Modular Reactor Market - Global Forecast to 2030
Nuclear Decommissioning Services Market
MarketsandMarketstm is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoretm (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarketstm.com or follow us on Twitter, LinkedIn and Facebook.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/nuclear-power-equipment-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/nuclear-power-equipment.asp
These press releases may also interest you