Nuclear Power Market (Global and BRIC Countries) 2014-2018: New Research Reports at Sandlerresearch.org
Dallas, Texas (PRWEB) August 08, 2014 -- The advances in technology are one of the predominant trends in this market. After the Fukushima accident, there have been increased investments for the safe operation of nuclear plants, such as the use of Generation III plus.
According to the “Global Nuclear Power Market 2014-2018” report, the growing global energy demand is one of the main drivers in the market. Increased population and urbanization have resulted in the high demand for power.
Nuclear power plants convert heat produced by nuclear fission reaction into electricity and use uranium as a fuel. Heat generated inside the nuclear reactor from the nuclear fission is used to convert water into steam, which drives the turbo generator.
The Global Nuclear Power market can be segmented into four technologies: PWR, BWR, PHWR, and Others.
The Global Nuclear Power Market 2014-2018 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Nuclear Power market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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The recognizes the following companies as the key players in the Global Nuclear Power Market: Areva Inc., China National Nuclear Cooperation (CNNC), JSC Atomstroyexport, Larsen and Toubro Ltd. (L&T) and Westinghouse Electric Company LLC.
Other Prominent Vendors in the market are: Atomic Energy of Canada, Bharat Heavy Electricals, GE Hitachi, KEPCO, Mitsubishi Heavy Industries and ROSATOM.
Key Market Driver
• Growing Energy Demand.
Key Market Challenge
• High Cost of Installation.
Key Market Trend
• Advancement in Technology.
Further, the report states that the high cost of installation is one of the major challenges that the market faces. The installation cost of nuclear power plants is relatively high compared to other conventional and renewable energy technologies. Because of the high capital requirement, many investors are reluctant to invest in nuclear power plants, hampering the growth of the market.
While The Nuclear Power market in BRIC countries shows immense potential to grow rapidly because of certain emerging trends that are expected to have a major influence on the market during the forecast period. Nuclear power market in BRIC countries is expected to experience moderate growth during the period 2014-2018. The cumulative installed capacity for nuclear power in BRIC countries was 47.8 GW in 2013, Russia being the leading country among BRIC nations, with cumulative installed capacity of 25.2 GW. China is expected to have the maximum capacity additions in the forecast period and will be the leading nation in terms of cumulative installed capacity. Rising power demand is the prime reason behind growth of the nuclear power in BRIC countries. Population growth along with industrial development is amplifying the power consumption. Going forward, nuclear technology has immense potential in the BRIC market due to growing climate change issues, which can be fought with the help of nuclear power generation as it avoids carbon emissions of over two billion tones each year.
Analysts forecast the Nuclear Power in BRIC Countries market will grow at a CAGR of 13.6 percent to reach 90.7 GW by 2018.India and China are planning to establish more nuclear power plants to meet their emission reduction targets.
According to the report, rise in demand for power is the prime reason behind the growth of the Nuclear Power market in BRIC countries. Population growth along with industrial development is amplifying the power consumption. Power demand from the Residential sector has also increased with respect to a surge in use of consumer electronics such as LED TVs, iPods, air conditioners, and mobile phones.
Further, the report states that public opposition and safety issues are significant barriers for the growth of the Nuclear Power market. Destructive nuclear accidents such as Chernobyl and Fukushima had a negative impact on the minds of the public about nuclear energy. It has raised the fundamental question about the safety of operational nuclear reactors worldwide. Many nuclear power plant plans were canceled in China because of the public safety concerns.
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The report recognizes the following companies as the key players in the Nuclear Power Market in BRIC Countries: AREVA Inc., China National Nuclear Cooperation (CNNC), JSC Atomstroyexport, Larsen and Toubro Limited (L&T) and Westinghouse Electric Company LLC.
Other Prominent Vendors in the market are: Atomic Energy of Canada ,Bharat Heavy Electricals, GE Hitachi and Mitsubishi Heavy Industries.
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Sandlerresearch.org is an online market research store for research reports on multiple industries. These reports provide market analysis, trends and opportunities and forecast about industries that helps to make a right decision for the business.
Ritesh Tiwari, Sandlerresearch.org, http://www.sandlerresearch.org/, +1 (888) 391-5441, [email protected]
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