USD 15.7 billion
Nuclear Power Plant Equipment Market Size, Share, Growth Analysis, By Equipment Type (Island Equipment, Auxiliary Equipment), By Reactor Type (Pressurized Water Reactor (PWR), Boiling Water Reactor (BWR)), By Region - Industry Forecast 2025-2032
Report ID:
SQSG10B2003 |
Region:
Global |
Published Date: October, 2024
Pages:
165
|Tables:
66
|Figures:
75
Nuclear Power Plant Equipment Market Insights
Nuclear Power Plant Equipment Market size was valued at USD 44.28 Billion in 2023 and is poised to grow from USD 45.83 Billion in 2024 to USD 60.44 Billion by 2032, growing at a CAGR of 3.5% during the forecast period (2025-2032).
The energy generated when the atoms of particular elements are divided is used in nuclear technologies. The applications of nuclear technology go much further than only producing low-carbon electricity. It enables our most audacious efforts, including space exploration, and aids physicians in the diagnosis and management of patients. These numerous applications put nuclear technologies at the forefront of efforts to promote ecological sustainability. As most countries strive to move to a better source of producing energy, it is predicted that the global market for nuclear power plant equipment will succeed in the coming years.
The worldwide demand for nuclear power plants and equipment could well be primarily driven by the increase in power consumption along with global warming objectives and expansion in nuclear projects.
US Nuclear Power Plant Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Auxiliary Equipment
Fastest Growth
Auxiliary Equipment
Growth Rate
3.5% CAGR
Global Nuclear Power Plant Equipment Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Nuclear Power Plant Equipment Market Segmental Analysis
Global Nuclear Power Plant Equipment Market is segmented by equipment type, reactor type and region. Based on equipment type, the market is segmented into island equipment and auxiliary equipment. Based on reactor type, the market is segmented into pressurized water reactor (PWR), boiling water reactor (BWR), pressurized heavy water reactor (PHWR), fast breeder reactor (FBR) and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Nuclear Power Plant Equipment Market Analysis by Reactor Type
In 2021, the pressurized water reactor (PWR) sector captured the largest market share, accounting for about 75% of the worldwide nuclear power plant and equipment market. It is expected that this segment would maintain its leading position. Due to its durability at warm altitudes, the pressurized water reactor (PWR) reactor type is expected to become the most lucrative market. From a safety perspective, this way by providing the reactor simple. The PWR reactor also guards against radioactive substances' pollution of water, minimizing ecological damage.
Nuclear Power Plant Equipment Market Analysis by Equipment Type
In 2021, over 60% of the global demand for nuclear power plants and equipment was made up of the auxiliary equipment category. During the projected time frame, this segment is expected to maintain a commanding profit share. The capacity of auxiliary equipment for testing and evaluation is credited with the rise as nuclear power plant safety is increasing dramatically. Additionally, they maintain the nuclear power plants' unique water treatment systems, safety nuclear power plant systems, and radiation shielding of power stations.
Global Nuclear Power Plant Equipment Market By Equipment Type, 2021 (%)
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Nuclear Power Plant Equipment Market Regional Insights
In 2021, the nuclear power plant equipment market has been led by the Asia-Pacific region and is expected to do so again in the foreseeable future. It is among the principal geographical areas in the globe wherein nuclear power, in particular, is expanding considerably.
In the forthcoming years, North America is expected to have spectacular expansion. The area's market expansion is expected to be supported by the rising need for energy and expanding awareness of renewable energy. Additionally, rising government support for nuclear power plants is probably going to support industry expansion.
Global Nuclear Power Plant Equipment Market By Geography, 2022-2028
- Largest
- Fastest
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Nuclear Power Plant Equipment Market Dynamics
Nuclear Power Plant Equipment Market Driver
- Increasing energy demand will accelerate market growth.
Nuclear power facilities generate more power as well as less carbon pollution than thermal power stations. The main drivers of market expansion are expected to be rising energy consumption and clean power production. Technology improvements in nuclear power reactors are being accelerated by the government’s increased attempts to curtail greenhouse gases. This will probably support the development of the global market for nuclear power equipment. Additionally, it is expected that the market will rise due to the rising modernization in both developed and emerging economies.
- Significant use of large equipment to support industry growth.
It is expected that industry participants would have plenty of chances due to the significant and irregular use of important machineries such as boiling water reactors (BWR) and pressurized water reactors (PWR) in nuclear plants. Nuclear reactors can be a profitable addition to the product lines of nuclear power plant equipment companies because they are primarily fuelled by fuel tanks. The need for fuel rods is expected to significantly expand with the expansion of fuel assemblies.
Nuclear Power Plant Equipment Market Restraint
- Nuclear power plant financing challenges pose a challenge that could limit market expansion.
The challenge of raising money for nuclear power plant initiatives is one of the major barriers to the demand for equipment for these facilities. The market picture is also expected to be harmed by the minimal price of renewable energy produced with little emissions. Additionally, it is predicted that the market expansion over the projection period will be constrained by the challenges associated with managing nuclear waste, which includes radioactive material.
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Nuclear Power Plant Equipment Market Competitive Landscape
The market for equipment for nuclear power plants is only marginally consolidated. Numerous major businesses are engaged in neck-and-neck competition in the fiercely competitive environment, which is extremely uneven. To keep their top market places, the corporations place a strong emphasis on technological breakthroughs, mergers, contracts, accords, alliances, and other factors. For instance, in August 2021, Japan-based In collaboration with GE Hitachi Nuclear Energy, Hitachi-GE Nuclear Energy has developed a 300 MWe boiling water reactor (BWR) type of SMR known as the "BWRX-300." The agreement will support the management in doing fresh consumer research and in its effort to reach net-zero greenhouse gas emissions by the year 2050.
Nuclear Power Plant Equipment Market Top Players Company Profiles
- General Electric (GE) (USA)
- Mitsubishi Heavy Industries (Japan)
- Toshiba Corporation (Japan)
- Hitachi Ltd. (Japan)
- Areva SA (France)
- Siemens AG (Germany)
- Westinghouse Electric Company (USA)
- Babcock & Wilcox Enterprises (USA)
- Doosan Heavy Industries & Construction (South Korea)
- Korea Electric Power Corporation (KEPCO) (South Korea)
- Shanghai Electric Group (China)
- China National Nuclear Corporation (CNNC) (China)
- China General Nuclear Power Group (CGN) (China)
- Rosatom (Russia)
- Alstom SA (France)
- Larsen & Toubro (L&T) (India)
- Fluor Corporation (USA)
- Bechtel Corporation (USA)
- Emerson Electric Co. (USA)
- Schneider Electric (France)
Nuclear Power Plant Equipment Market Recent Development
- In May 2022, GEH SMR Technologies Canada Ltd. And the SIMSA have decided to assist and support any prospective BWRX-300 small modular reactor deployment in Saskatchewan.
- In October 2021, an Instrumentation and Control (I&C) modernization agreement was signed by Westing Electric Company and Exelon Generation for its BWR units at its Limerick-based Generating Station. The improvements will increase the plant's capacity for operation while strengthening system dependability and optimizing supervision.
Nuclear Power Plant Equipment Key Market Trends
- Market Dominance for the Pressurized Water Reactor Operators chooses highly pressurized reactors because they are the finest of all the nuclear reactor kinds since there are growing worries about the security of nuclear power facilities. Furthermore, the Pressurized Water Reactor reactor guards against radioactive material contamination of water, tackling climate change. Consequently, the market for nuclear power plant equipment is expected to be highly impacted by the strong growth for PWRs throughout the projected timeline.
Nuclear Power Plant Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the pressurized water reactor’s dominated the global nuclear power plant equipment market in 2021 and is expected to maintain their dominance throughout the forecast period. In 2021, the auxiliary equipment industry held the highest share. In 2021, Asia-Pacific dominated the global nuclear power plant equipment market and is expected to continue its dominance owing to the presence of major regions where electric and nuclear power sites are growing exponentially.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.7 billion |
| Market size value in 2031 | USD 21.4 billion |
| Growth Rate | 3.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Nuclear Power Plant Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Nuclear Power Plant Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Nuclear Power Plant Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nuclear Power Plant Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nuclear Power Plant Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nuclear Power Plant Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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