Nuclear Reactor Market Is Showing Significant Growth By 2022

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| Source: Crystal Market Research

LAS VEGAS, Oct. 26, 2017 (GLOBE NEWSWIRE) -- The global Nuclear Reactor Market was evaluated and registering itself at a noteworthy compound annual growth rate (CAGR) over the forecast period. A nuclear reactor is previously referred as an atomic pile. It is an instrument utilized to control and initiate a continued nuclear chain reaction. These nuclear reactors are utilized in nuclear power plants for propelling aircraft carriers as well as ships and for generating electricity. In nuclear power plants, heat produced from nuclear fission is guided to a working fluid that can be gas or liquid, which passes through steam turbines. These turbines either drive electrical generators or propel a ship's propellers. Nuclear produced steam in the plant can be utilized for distinct heating or in an industrial process. Some nuclear reactors are employed to generate isotopes for industrial and medical use, or for manufacturing of weapons-grade plutonium.

The global nuclear reactor market is predicted to witness major growth with a decent compound annual growth rate over the projected years. Various advantages are associated with the nuclear power such as: it is a clean energy source, less fuel offers more energy i.e. more energy is generated in small amount of fuel and its power generation is not dependent upon natural aspects etc., which are boosting the use of nuclear energy and hence fueling the growth of the global nuclear reactor market. Rising population and developing countries are ensuing as extensive rises in electricity demand will propel the market demand and is the major driving factor of the nuclear reactor industry. However, complexity in securing raw material for producing nuclear energy might hinder the global market growth. Huge numbers of growth opportunities are present for the nuclear reactor market since electricity demand is rising at a rapid pace in Asia Pacific economies such as China and India.

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The major market players in the global nuclear reactor market are Westinghouse Electric Company LLC, Southern Company, TerraPower LLC, Florida Power & Light Company and AREVA Group. According to product type, the global market is divided into; Fast neutron reactor (FBR), Pressurized water reactor (PWR), Pressurized heavy water reactor (PHWR), Light water graphite reactor (RBMK & EGP), the Gas-cooled reactor (AGR & Magnox), and boiling water reactor (BWR). By Application, the global market is split into; Electricity Generation and Aircraft Carrier as well as Submarine Movement. Geographically, the global nuclear reactor market is segmented in regions which are; Europe (Germany, Spain, Italy, France, UK and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), North America (the United States, Mexico and Canada)and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).

Key findings of the nuclear reactor market

  • Increased requirement for cleaner sources of energy and demand for new energy sources is boosting the need for nuclear reactors.

  • Asia-Pacific region is the top regional market for nuclear energy generation with the leading number of nuclear plants worldwide.

  • The North American regional market holds the second position in the global market and Africa is among the developing regional markets in the nuclear power segment.

  • Key players in the market are Westinghouse Electric Company LLC, Southern Company, TerraPower LLC, Florida Power & Light Company and AREVA Group.

Key Market Players:

  • Westinghouse Electric Company LLC
  •  Southern Company
  •  TerraPower LLC
  •  Florida Power & Light Company and AREVA Group

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Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.

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