The Global Nuclear Power Plant and Equipment Market was valued $36.2 Bn and is estimated to reach $49.8 Bn by 2026 at a CAGR of 4 % during the forecast.
High initial investment required for nuclear power equipment, risk of a major accident, and energy alternatives limit market growth.
The pressurized water reactor type segment held about two third of market share in 2017.
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. High initial investment required for nuclear power equipment, risk of a major accident, and energy alternatives limit market growth.
The Global Nuclear Power Plant and Equipment Market was valued $36.2 Bn and is estimated to reach $49.8 Bn by 2026 at a CAGR of 4 % during the forecast.
The 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.
The Middle East region is focusing on developing nuclear energy infrastructure, which is foreseen to offer lucrative opportunities for the market in this forecast. Nuclear electricity generation capacity in the Middle East is expected to grow from 3.6 GW to 13.9 GW by 2026.
The 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,which decreases the chances of additional fission events occurring, making the reactor safer and more controllable. Lastly, the most advantageous element of the PWR is the turbine cycle.
