The report is designed to provide a holistic view of the North America Nuclear Power Plant Equipment market 2021-2026. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; revenue, demands, and supply data (as applicable). High-level interpretation of North America Nuclear Power Plant Equipment market attributes using proprietary tools such as the Penetration Mapping Index, and other successful representational tools such as Porter’s Five Forces Analysis, SWOT, PESTEL, Ansoff’s Matrix, etc. Regional estimates and forecasts & trend analysis for each country and region are also available in the study. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for North America Nuclear Power Plant Equipment investments from 2021 till 2026.
Top Companies in the Global North America Nuclear Power Plant Equipment Market:
AEM Technologies JSC, Framatome, Babcock & Wilcox Company, Doosan Corporation, GE-Hitachi Nuclear Energy.
The North America nuclear power plant equipment market is expected to grow at a CAGR of more than 12% in the forecast period of 2020 – 2025.
The significant contribution of nuclear energy in reducing GHG emissions worldwide, while fulfilling the increasing energy demands of a growing world population and supporting global sustainable development is driving the market. Moreover, upcoming projects in the United States and Canada are expected to create significant demand for different nuclear power plant equipment in the coming years. On the other hand, premature decommissioning of several plants across the region is restraining the growth of the market in the forecast period.
With a significant share of pressurized water reactors, they are expected to dominate the reactor segment in the forecast period. The World Nuclear Association has set a target of 25% of global electricity in 2050, which is expected to be provided by nuclear energy. This requires roughly 1000 GW of new nuclear capacity to be constructed, creating ample opportunities for market players.
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Pressurized Water Reactors to Dominate the Market
– A typical design of a commercial PWR is such that the core inside the reactor vessel creates heat. The core of the reactor pressure vessel (RPV) contains nuclear fuel, moderator, control rods, and coolant that is cooled and moderated by high-pressure liquid water. PWR consists of a reactor vessel, steam generators, reactor coolant pumps, control roads, a pressurizer, and other elements.
– Canadas Darlington and Bruce nuclear units in Ontario are undergoing a multi-year, multi-million-dollar refurbishment, which will allow the nuclear plants to operate well beyond mid-century. The Darlington refurbishment project is expected to be completed by 2026 and the Bruce project by 2033.
– The United States is dominating in terms of PW reactors. With 64 pressurized water reactors, generating more than 63 GW of electricity as of May 2020, PWRs are dominating the market.
– Nuclear energy held a significant share in electricity generation in North America. With 963.7 TWh of electricity in 2019, the share of nuclear power is expected to grow in the forecast period.
The United States to Dominate the Market
– Despite a halt in the construction of new nuclear power plants for more than 30 years, the country’s reliance on nuclear power has grown. Average nuclear generation costs came down from USD 42/MWh in 2012 to USD 30/MWh in 2019.
– In March 2020, GE Hitachi Nuclear Energy signed a project for the United States’ Department of Energy (DOE) to develop tools to transform the operations while maintaining advanced nuclear reactors using Artificial Intelligence-enabled digital twins.
– The United States Nuclear Regulatory Commission (NRC), in 2017, approved 20-year license extensions for more than 75% of the fleet, enabling the operation to 60 years. Furthermore, the operators are planning to apply for a further 20-year extension in the lifecycle, allowing the total life cycle of a plant to be 80 years.
– As of 2019, the country has 95 operating nuclear power reactors with a combined capacity of 97.15 GWe, generating 809 TWh electricity, operated by 30 different power companies. Around 38 reactors with a combined capacity of 17.54 GWe were shut down, and there are two reactors under the construction phase as of 2019.
Regions Are covered By North America Nuclear Power Plant Equipment Market Report 2020 To 2025.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
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Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of North America Nuclear Power Plant Equipment Market
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-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected North America Nuclear Power Plant Equipment market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of North America Nuclear Power Plant Equipment Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
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All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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