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Nuclear Power Plant Equipment Market Trends

The Nuclear Electricity Global Market Report 2023 by The Business Research Company, provides nuclear electricity market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/nuclear-electricity-global-market-report

According to The Business Research Company’s Nuclear Electricity Global Market Report 2023, the market size is expected to grow from $204.41 billion in 2022 to $217.4 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global nuclear electricity is expected to grow to $271.08 billion in 2027 at a CAGR of 5.7%

The growing demand for electricity is expected to be a key driver of the nuclear power generation market in the forecast period. This can be attributed to growing economies and rising populations, especially in developing countries such as China, India, Brazil, and some African countries.

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The nuclear electricity market is segmented:

1) By Reactor Type: Pressurized Water Reactors (PWR), Fast Breeder Reactor (FBR), Pressurized Heavy-Water Reactor (PHWR), Boiling Water Reactor (BWR), Light Water Graphite Reactor (LWGR), Gas-Cooled Reactor (GCR)

2) By End-User: Residential, Commercial, Industrial

3) By Technology: Generation I, Generation II, Generation III, and Generation IV

The power generation industry and the downstream power distribution industries are digitizing their assets and are increasingly relying on technology. The industry is becoming increasingly vulnerable to a rising number of cyber-attacks. For instance, on October 2022, Tata Power, an Indian-based electric power distribution company, suffered a cyber-attack for which the company has taken steps to retrieve and restore the systems.

The nuclear electricity market report table of contents includes: