Global NUCLEAR POWER MARKET GROWTH, TRENDS AND FORECASTS, 2030

 

NUCLEAR POWER MARKET
NUCLEAR POWER MARKET 

The economics of new nuclear power facilities are a contentious topic, as the choice of energy sources affects multibillion dollar investments. The construction of nuclear power plants often entails large capital expenses. Because of this, comparisons with other power generation techniques heavily rely on presumptions regarding nuclear plant construction timelines and capital funding. Who bears the risks of upcoming uncertainty must also be included in the economic analysis of nuclear power.

The global Nuclear Power Market is expected to record a CAGR of approximately 1.2% during the forecast period 2022–2030, reaching a nuclear installed capacity of 440.23 GW by 2022 from 389.68 GW in 2021.

As of 2010, all nuclear power facilities that are currently in operation were built by monopolistic state-owned or controlled electric utility companies. Since many nations have liberalised their electricity markets, plant suppliers and operators rather than consumers are now responsible for assuming these risks as well as the risk of cheaper competitors entering the market before capital costs are recovered. This has resulted in a significantly different assessment of the economics of new nuclear power plants.

The Nuclear Power Market has been badly damaged by the Covid-19 epidemic. involving the industries.  Due to the fast urbanisation and growing need for efficient use of space already existent, the sector anticipates a lot of needs and demand following the pandemic. The growth in energy consumption and the production of clean electricity around the world are what are driving the Nuclear Power Market and related equipment. Countries search for efficient and clean ways to create energy, such as nuclear power, as global energy demand rises.

Reactor type, equipment type, and geographic location are used to segment the market for nuclear power plants and related equipment. The market is divided into pressurised water reactors (PWR), pressurised heavy water reactors (PHWR), boiling water reactors (BWR), light water graphite reactors (LWGR), gas-cooled reactors (GCR), and others on the basis of reactor type. It is separated into island equipment and auxiliary equipment according to the type of equipment. It is examined across North America, Europe, Asia-Pacific, and LAMEA based on region.

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