A Nuclear Power Plant is a thermal power generation where the nuclear reactor acts as a heat source and this heat is used to produce steam which is used to run steam turbine connected to an electric generator to produce electricity. Increased demand for clean electricity is the driving factor for increase in demand for nuclear power plant and their equipment.
The global Nuclear Power Plant and Equipment Market is growing with a high growth rate and is expected to maintain the same during the forecast period. High establishment cost involved in setting up a nuclear plant act as hindrance to the market growth.
Global Nuclear Power Plant and Equipment Market is segmented based on equipment type and reactor type. Based on the equipment type its segmented into auxiliary equipment and island equipment. Various reactor type includes BWR, HTGR, FBR, PWR and others.
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In Globally Nuclear Power Plant and Equipment Market North America stands second in the market share. Most of the European countries such as France, Finland and others use nuclear energy for majority of their power needs. Africa and other emerging markets are showing fantastic opportunity for increased demand in nuclear plants and their equipment.
Expanding population base, and need to meet power demands helps in creating a large market for Nuclear Power Plant and Equipment Market. Also raising focus on safety supply is also driving the Nuclear Power Plant and Equipment Market. Nuclear power plant can generate electricity at cutthroat and lower prices which makes this market attractive.
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Some of the key players are:
Babcock and Wilcox
Mitsubishi Heavy Industries Ltd
Hitachi-GE Nuclear Energy Ltd
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