September 12, 2018
WELLESLEY, Mass., Sep. 12, 2018–Global expansion of the nuclear electric power generation market is expected through 2023, according to a new BCC Research report. With many developing and underdeveloped economies taking steps to provide stable access to electricity, the nuclear electric power generation market is expected to grow at a compound annual growth rate (CAGR) of 3.8% to nearly $156.2 billion by 2023.
The report Nuclear Electric Power Generation: Global Markets to 2023 focuses on market growth as a result of nuclear electric products, such as Pressurized Water Reactors (PWR), Fast Breeder Reactor (FBR), Pressurized Heavy-Water Reactor (PHWR), Boiling Water Reactor (BWR), Light Water Graphite Reactor (LWGR) and Gas-Cooled Reactor (GCR).
Major players in the market include: EDF Group, Exelon Corp., Duke Energy Corp., Enel SpA, NextEra Energy, Inc. and others.
“The nuclear fuel power generation market is expected to benefit from a rise in energy demand, especially from developing countries such as China and India,” the report notes. “Economic development in these countries is giving manufacturing activity a boost, thereby increasing the demand for electricity. For instance, in 2017, global demand for energy increased by 2.1%, more than twice the rate in 2016. China and India accounted for more than 40% of this rise in energy demand.”
Economic expansion and technological advances, such as advanced small modular reactors and 3D printing of nuclear parts, are also expected to drive the market.
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Nuclear Electric Power Generation: Global Markets to 2023( EGY158A )
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