NEW YORK, August 25, 2016 /PRNewswire/ --
The nuclear power sector is expected to grow in coming years on account of increasing focus on development of nuclear power generation in the developing countries globally. The increasing demand of electricity will result in development of new power generating facilities in the world. The demand of power in developing economies is anticipated to witness huge upsurge in near future which will require addition of power generation capacity. The governments across the world have made strategic plans to formulate energy mix of their respective countries which is aimed at reducing the green-house gases emissions. Nuclear power generation is one of the cleanest form of producing electricity which results in strong growth proponent of the same. Another factor which bolster the case of nuclear power generation is its low cost of producing electricity. The low cost of producing electricity coupled with zero carbon emissions makes it a strong contender among the different technologies pertaining to power generation. The increase in uranium reserves is another factor which is expected to spur the market for nuclear power generation globally. The abundance of uranium supply results in sufficient feedstock for nuclear power plants which is a big boost for its business. The governments across the world have increased focus on research and development activities pertaining to safety concerns regarding nuclear power generation. The development in design, construction of systems and components would spur the global nuclear power market.
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Global Nuclear Power Market: Drivers and Restraints
The increasing focus on clean energy development mechanism supported by policy initiatives of the governments are major drivers for nuclear power generation market globally. The increasing demand for power and reduction in conventional fuel reserves increases the likelihood of development of nuclear power generation. In addition, the use of uranium for power generation over development of nuclear arsenal would create new opportunities for nuclear power markets globally. The major hurdle in development of nuclear power generation infrastructure is the nuclear waste that can be harmful for human life. The elimination of nuclear waste i.e. radioactivity takes many years which is a big challenge for nuclear power technology. The nuclear disasters in Chernobyl and Fukushima have posed serious challenge to nuclear power technology, which resulted in huge loss. In addition, the development of nuclear power plant requires higher investments in comparison to conventional thermal power plants and hurdles in availability of land for building a nuclear plant can be a big challenge for its development.
Global Nuclear Power Market: Segmentation
The Global Nuclear Power market is segmented on the basis of Type, Region & Company
Based on Type, the Global Nuclear Power market is segmented into the following:
Based on Region, the Global Nuclear Power market is segmented into the following:
Global Nuclear Power Market: Overview
The global nuclear power market is anticipated to grow at a steady rate during 2016-2025, on account of increasing focus of the governments in developing economies to increase the penetration of nuclear power in the energy mix. The nuclear power generation in the US stood at 798.6 TWh in year 2015 which was highest in the world. The developing countries such as India, China have decided to increase the share of nuclear power in their energy mix.
The growing population and improved lifestyle will augment the demand of power which will witness development of new power generation facilities globally. The increasing pollution from fossil fuel is a one of the major reason for the government to focus on development of nuclear power plants which is the cleanest technology for power generation.
Global Nuclear Power Market: Region-wise Outlook
At present, North America is the leading region in nuclear power market globally, followed by Europe, and Asia Pacific regions. The Asia pacific region is going to witness steady expansion in nuclear power market in near future on account of supportive governments' policies in the region pertaining to nuclear power generation.
Global Nuclear Power Market: Key Players
Key players in the Global Nuclear Power Market include Alstom SA, Hitachi-GE Nuclear Energy Ltd. Nukem Energy, Electronuclear, Mitsubishi Heavy Industries Ltd., etc.
The report covers exhaustive analysis on:
"Global Nuclear Power Market Forecast & Opportunities, 2025" will analyse the potential of nuclear power market across the world and will provide statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report will also identify and analyse the emerging trends along with the essential drivers and key challenges faced by the industry.
Report Highlights:
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