What is the global market size of the Nuclear Power Plant Equipment Market?

Global Nuclear Power Plant Equipment Market size was valued at USD 37.9 billion in 2021 and is poised to grow from USD 44.28 billion in 2022 to USD 58.4 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).

What is the key driver of the Global Nuclear Power Plant Equipment Market?

Nuclear power facilities generate more power as well as less carbon pollution than thermal power stations. The main drivers of market expansion are expected to be rising energy consumption and clean power production. Technology improvements in nuclear power reactors are being accelerated by the government’s increased attempts to curtail greenhouse gases. This will probably support the development of the global market for nuclear power equipment. Additionally, it is expected that the market will rise due to the rising modernization in both developed and emerging economies.

Nuclear Power Plant Equipment Market Companies

Nuclear Power Plant Equipment Market Competitive Landscape

Top Players in Nuclear Power Plant Equipment Market

General Electric (GE) (USA)
Mitsubishi Heavy Industries (Japan)
Toshiba Corporation (Japan)
Hitachi Ltd. (Japan)
Areva SA (France)
Siemens AG (Germany)
Westinghouse Electric Company (USA)
Babcock & Wilcox Enterprises (USA)
Doosan Heavy Industries & Construction (South Korea)
Korea Electric Power Corporation (KEPCO) (South Korea)
Shanghai Electric Group (China)
China National Nuclear Corporation (CNNC) (China)
China General Nuclear Power Group (CGN) (China)
Rosatom (Russia)
Alstom SA (France)
Larsen & Toubro (L&T) (India)
Fluor Corporation (USA)
Bechtel Corporation (USA)
Emerson Electric Co. (USA)
Schneider Electric (France)

Nuclear Power Plant Equipment Market Recent Development

In May 2022, GEH SMR Technologies Canada Ltd. And the SIMSA have decided to assist and support any prospective BWRX-300 small modular reactor deployment in Saskatchewan.
In October 2021, an Instrumentation and Control (I&C) modernization agreement was signed by Westing Electric Company and Exelon Generation for its BWR units at its Limerick-based Generating Station. The improvements will increase the plant's capacity for operation while strengthening system dependability and optimizing supervision.

FAQs

Nuclear Power Plant Equipment Market size was valued at USD 44.28 Billion in 2023 and is poised to grow from USD 45.83 Billion in 2024 to USD 60.44 Billion by 2032, growing at a CAGR of 3.5% during the forecast period (2025-2032).

The market for equipment for nuclear power plants is only marginally consolidated. Numerous major businesses are engaged in neck-and-neck competition in the fiercely competitive environment, which is extremely uneven. To keep their top market places, the corporations place a strong emphasis on technological breakthroughs, mergers, contracts, accords, alliances, and other factors. For instance, in August 2021, Japan-based In collaboration with GE Hitachi Nuclear Energy, Hitachi-GE Nuclear Energy has developed a 300 MWe boiling water reactor (BWR) type of SMR known as the "BWRX-300." The agreement will support the management in doing fresh consumer research and in its effort to reach net-zero greenhouse gas emissions by the year 2050. 'General Electric (GE) (USA) ', 'Mitsubishi Heavy Industries (Japan) ', 'Toshiba Corporation (Japan) ', 'Hitachi Ltd. (Japan) ', 'Areva SA (France) ', 'Siemens AG (Germany) ', 'Westinghouse Electric Company (USA) ', 'Babcock & Wilcox Enterprises (USA) ', 'Doosan Heavy Industries & Construction (South Korea) ', 'Korea Electric Power Corporation (KEPCO) (South Korea) ', 'Shanghai Electric Group (China) ', 'China National Nuclear Corporation (CNNC) (China) ', 'China General Nuclear Power Group (CGN) (China) ', 'Rosatom (Russia) ', 'Alstom SA (France) ', 'Larsen & Toubro (L&T) (India) ', 'Fluor Corporation (USA) ', 'Bechtel Corporation (USA) ', 'Emerson Electric Co. (USA) ', 'Schneider Electric (France) '

Increasing energy demand will accelerate market growth.

Market Dominance for the Pressurized Water Reactor Operators chooses highly pressurized reactors because they are the finest of all the nuclear reactor kinds since there are growing worries about the security of nuclear power facilities. Furthermore, the Pressurized Water Reactor reactor guards against radioactive material contamination of water, tackling climate change. Consequently, the market for nuclear power plant equipment is expected to be highly impacted by the strong growth for PWRs throughout the projected timeline.

In 2021, the nuclear power plant equipment market has been led by the Asia-Pacific region and is expected to do so again in the foreseeable future. It is among the principal geographical areas in the globe wherein nuclear power, in particular, is expanding considerably.

Nuclear Power Plant Equipment Market

Report ID: SQSG10B2003

Top Nuclear Power Plant Equipment Companies

Nuclear Power Plant Equipment Market Competitive Landscape

Top Players in Nuclear Power Plant Equipment Market

Nuclear Power Plant Equipment Market Recent Development

Nuclear Power Plant Equipment Market Report Snapshots

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Top Nuclear Power Plant Equipment Companies

Nuclear Power Plant Equipment Market Competitive Landscape

Top Players in Nuclear Power Plant Equipment Market

Nuclear Power Plant Equipment Market Recent Development

Nuclear Power Plant Equipment Market Report Snapshots

FAQs

What is the global market size of Nuclear Power Plant Equipment Market?

Who are the key vendors in the Nuclear Power Plant Equipment Market?

What is the key driver of Nuclear Power Plant Equipment Market?

What is the key market trend for Nuclear Power Plant Equipment Market?

Which region accounted for the largest share in Nuclear Power Plant Equipment Market?

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