Global Nuclear Reactor Construction Market : Global Opportunity Analysis and Industry Forecast, 2017-2023
Portland, OR -- (SBWIRE) -- 10/02/2017 -- Nuclear reactor is a device used to initiate and control sustained nuclear chain reactions. Nuclear reactors are deployed in nuclear power plants to generate electricity and for the propulsion of ships. Heat emitted from nuclear fission is passed to the working fluid, such as water or gas, to run the steam turbines. Nuclear reactors are deployed to generate isotopes utilized for medical & industrial purposes, and to produce weapons-grade plutonium. Some reactors are operated for research purposes only. According to the International Atomic Energy Agency, as of 31 December 2016, globally there are 448 operating nuclear reactors and 61 nuclear reactors under construction.
Key players that operate in the market include Areva S.A., China National Nuclear Corporation, State Atomic Energy Corporation, Rosatom, Westinghouse Electric Company LLC., Hitachi-GE Nuclear Energy, Ltd., Mitsubishi Heavy Industries, Ltd., Larsen & Toubro Limited, KEPCO, China Nuclear E&C Group, and United Heavy Machinery Plants.
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The nuclear reactor construction market is segmented based on technology, type, and geography. Based on technology, the market is segmented into pressurized water reactors (PWR), boiling water reactors (BWR), and others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
- Pressurized Water Reactors (PWR)
- Boiling Water Reactors (BWR)
The market for nuclear reactor construction is driven by the growing demand for electricity due to rapid population growth, urbanization & industrialization, and rising initiatives taken by the government. Owing to a rise in safety concerns, especially after the Fukushima nuclear disaster in Japan, countries have started investing in advanced technology, such as Generation III nuclear reactors.
However, political, regulatory, and economic considerations have also closed some nuclear reactors before the expiration of their life span, especially in the U.S. In addition, difficulty in obtaining raw materials to generate nuclear energy may restrain the growth of nuclear reactor construction market.
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