Rising Demand for Electricity and the Drive towards Energy Security Fuels the Indian Nuclear Power Market, According to a New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive report on Nuclear Power Market in India. Demand for electricity has been growing at a rapid pace in India, with per capita demand increasing steadily. However, with limited coal reserves and about 30-40% transmission losses, the generated electricity has been unable to address the surging power demand. Though thermal power accounts for about 65% of the total electricity produced, limited coal reserves are compelling India to seek alternative sources of electricity generation such as nuclear power.

Nuclear Power Market in India: An Outlook

Follow us on LinkedIn – Nuclear power, which currently accounts for about 3.0% of the overall electricity generated in the country, represents one of the rapidly developing power-generation sectors in India. Major factors driving investments in nuclear power for generating electricity include limited reserves of fossil fuels in the country and a vision to attain energy independence in the decades to come through thorium based nuclear power. Nuclear power, although accounting for a minute share in the overall electricity generated in India, is moving at a robust pace. Increase in availability of uranium, driven by increase in domestic supply and access to supply from international market, is driving generation of electricity in the nuclear sector. With an indigenous nuclear power program, India plans to attain a 20,000 MWe (Mega Watt electrical) nuclear capacity by the year 2020 and aims to increase the share of nuclear energy to 25% of the total electricity demand by the year 2050.

As of 2011, India operated 20 nuclear reactors with a combined capacity of 4,780 MW. Additionally, seven nuclear power plants are presently under construction. In terms of number of nuclear power reactors, India represents the sixth largest country worldwide. The recent years witnessed a dip in available domestic sources of nuclear fuel that created a demand-supply gap. The situation forced most of the nuclear power plants in India to operate at lower levels than their full capacity. Besides, the dearth in nuclear fuel stalled commencement of operations of new reactors, which were scheduled for start in 2007 and 2008. However, the supply situation improved with the opening of Turamdih mill in Jharkhand in the year 2008, and further due to increasing supply from overseas markets, which enabled significant increase in availability levels at currently operated reactors.

India has signed nuclear deals with as many as nine countries since the NSG lifted its ban over nuclear trade with India in 2008. The list includes countries such as USA, Russia, France, Canada, Kazakhstan, Mongolia, Namibia, Argentina, and South Korea, with South Korea being the latest to join the suit. The US represents the first country that India signed a nuclear deal with. Of all the countries, France and Russia have benefited significantly than others with the countries entering into agreement to build nuclear power plants in India, while companies in the US are still competing with each other in terms of entering the market in the wake of India passing the nuclear liability bill. While most countries have agreed to trade technologies with India, Kazakhstan has commenced supplying uranium to India.

The research report titled “Nuclear Power Market in India: An Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report briefly discusses the role of nuclear power in the Indian power sector, present dynamics in nuclear reactor establishments, international agreements and other aspects related to the sector in the Indian market. The report also recapitulates recent noteworthy mergers, acquisitions, and other strategic developments. Market discussions in the report are punctuated with fact-rich market data tables. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Nuclear_Power_Industry_India_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Follow us on LinkedIn

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website