SAN FRANCISCO, October 24, 2017 /PRNewswire/ --
The Global Nuclear Power Market is expected to grow at an
exponential CAGR in the years to come. Nuclear Power can be defined
as a kind of technology that involves employment of nuclear
reactions that emit nuclear energy in order to produce heat, force,
as well as electricity. It is extensively employed in steam
turbines for the generation of electricity in a nuclear power
plant. Nuclear Energy is usually generated via a controlled nuclear
chain reaction. The heat that is given off is further deployed to
produce steam, operate a steam turbine, and boil water.
Nuclear Energy has gradually emerged as the energy of the
future. In addition, through researches and studies, nuclear power
plants have been proven much effective as compared to thermal power
plants. It has been observed that governments are trying to lay
more emphasis on the advancement of nuclear power plants in order
to reduce the level of pollution produced from fossil fuel. The
nuclear technology is gaining huge recognition and demand across
the globe due to rising applications.
The factors that are playing a key role in boosting the market
growth may include rise in the industrialization, urbanization,
augmented demands for clean power, rising prerequisite to reduce
fossil fuel reserves and lower the energy import bills, mounting
investments by the government and leading energy companies, rise in
the demand for energy, and augmentation in the needs by the
infrastructure sector without carbon emissions.
Moreover, rise in the population, enhancement in the lifestyle
and advancement in the power generation facilities across the globe
are also contributing simultaneously in the market growth.
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Global Nuclear Power Market is segmented on the basis of type as
Boiling Water Reactors (BWR), Pressurized Heavy Water Reactors
(PHWR), Pressurized Water Reactors (PWR), and others. The factor
that is acting as a major hurdle in the market growth may include
soaring costs of storing and supervising radioactive waste produced
in the plants. Moreover, the concerns regarding the security
associated with the use of nuclear energy are also burgeoning day
by day.
It has been estimated that the Nuclear Power Market will witness
a huge upsurge in the next couple of years due to rising scope and
applications across various sectors. Nuclear Power Market is
segmented on the basis of technology as Generation I, Generation
II, Generation III, and Generation IV. Nuclear Power Market is
segmented on the basis of North
America, Europe,
China, Japan, Southeast
Asia, and India.
Among all the geographical regions, North America is currently leading the market
and it is taking up the largest share in the market, the reason
being rise in the industrialization, technological advancements,
augmentation in the awareness among the end users, augmented demand
from various commercial sectors, large-scale installation, and rise
in the applications. United States
has been recognized as one of the prominent contributors in the
market growth.
On the contrary, Europe and
Asia Pacific are also emerging
with a huge growth, the reason being presence of huge market
players, implementation of stringent regulations by the authorities
regarding environment, rise in the investments by the leading
manufacturers, and mounting construction of novel nuclear power
plants in these regions. The key players operating in the Nuclear
Power Market are recognized as Bruce Power, E.ON SE, CEZ Group, Nukem GmbH, and China
General Nuclear Power Corporation.
Market Segmentation:
- Global Production Market Share of Nuclear Power by
Type
- Pressurised water reactor (PWR)
- Boiling water reactor (BWR)
- Pressurised heavy water reactor (PHWR)
- Gas-cooled reactor (AGR & Magnox)
- Light water graphite reactor (RBMK & EGP)
- Fast neutron reactor (FBR)
- Nuclear Power Consumption Market Share by
Application
- Electricity Supply
- Others
- Application 3
- Nuclear Power Market by Region
- North America
- Europe
- Southeast Asia
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