Global Nuclear Control Rods Market 2017-2021
About Nuclear Control Rods
The global nuclear control rods market is expected to grow at steady pace, with support from government policies and the increase in investments by developing countries in nuclear energy to generate electricity. A nuclear reactor is defined as the structure in which fissile material undergoes controlled, self-sustaining nuclear reaction, with the simultaneous release of energy, which is used to generate electricity. The working of a nuclear reactor is a complex process and requires a high level of expertise. The reactions inside the nuclear reactor are powerful and produce radioactive radiation, which, if released, can be hazardous to all life forms and the environment.
Technavio’s analysts forecast the global nuclear control rods market to grow at a CAGR of 2.11% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global nuclear control rods market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Nuclear Control Rods Market 2017-2021
Technavio recognizes the following companies as the key players in the global nuclear control rods market: AREVA, GE Hitachi Nuclear Energy, ŠKODA JS, Veridiam, and Westinghouse Electric.
Other Prominent Vendors in the market are: Curtiss-Wright, Fine Tubes, Godrej, Mitsubishi Heavy Industries, LARSEN & TOUBRO, Rolls-Royce, and VALLOUREC.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is evolution of floating nuclear power plants. China has plans to build as many as 20 floating nuclear power plants. The first of these plants will be used for the acceleration of construction work of the oil rigs in the South China Sea. Russia has been constructing such power plants from 2000; China has taken up the initiative to build it first.”
According to the report, one driver in market is overdependence on fossil fuels. Today, energy security is one of the key areas on the national agenda of any country. Since the discovery of the commercial uses of oil and natural gas in the late 18th and early 19th centuries, the dominance of fossil fuels has only grown. Fossil fuels, at present, account for more than 80% of the world's energy demand. Global energy demand is expected to increase by 35% by 2020, and fossil fuels are projected to meet 75% of this increased demand. The major growth in the demand for fossil fuel will likely shift to the non-OECD countries, such as China and India, and it will be backed by their flourishing economies.
Further, the report states that one challenges in market is increase in demand for renewable energy. Power demand is constantly increasing worldwide. Further growth in population and the global economy is predicted to drive the trend in the future as well. According to the IEA, the global demand for power is predicted to increase from 19,004 TWh in 2011 to 34,454 TWh by 2035. Therefore, to sustain the economic growth, population increase, and increasing development would require substantial amounts of power. Climate change policies and technological improvements have resulted in power generation shifting to low-carbon or no-carbon technologies, such as solar, wind, and hydropower. With the number of countries that have renewable targets and policies experiencing a rise, there has been an increase in renewable power production.
AREVA, GE Hitachi Nuclear Energy, ŠKODA JS, Veridiam, Westinghouse Electric, Curtiss-Wright, Fine Tubes, Godrej, Mitsubishi Heavy Industries, LARSEN & TOUBRO, Rolls-Royce, and VALLOUREC.
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