Global Nuclear Power Market 2015-2019
About Nuclear Power
Nuclear power refers to electricity generated using heat from nuclear reactions in reactors. Reactors produce heat from the fission of atoms. The heat thus produced is used to convert water into steam, which in turn drives the generator and generates power.
Technavio's analysts forecast the global nuclear power market to grow at a CAGR of 2.26%, according to the cumulative installed capacity, over the period 2014-2019.
Covered in this Report
Technavio's report, Global Nuclear Power Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the global nuclear power market forecast and its growth prospects in the coming years. The report also includes the segmentation based on technology and geography. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Nuclear Power Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Nuclear Power Market: Areva, China National Nuclear Cooperation (CNNC), Larsen and Toubro (L&T), NIAEP ASC and Westinghouse Electric Company
Other Prominent Vendors in the market are: Atomic Energy of Canada, Bharat Heavy Electricals, GE Hitachi, KEPCO and Mitsubishi Heavy Industries
Commenting on the report, an analyst from Technavio’s team said: “Post the Fukushima disaster, safety features of nuclear reactors have been re-examined worldwide. Technologically advanced reactors with improved designs are being developed. These reactors have simpler designs, are fuel efficient and inherently safer. More emphasis is laid on simpler and easier operating systems, which would enable the plant to survive potential severe accidents with minimum human intervention. Advanced and safer reactor technologies such as water cooled reactors, gas cooled reactors, sodium-cooled fast reactors, small- and medium-sized reactors are now being used. The availability of safer nuclear technology is supporting the growth of the global nuclear power market.”
According to the report, nuclear power produces low-cost electricity, and helps in reducing dependency on fossil fuels and in lowering GHG emissions. Unlike renewable power sources, such as wind and solar, it provides uninterrupted and efficient power supply. Both, solar and wind energy are intermittent in nature, and are hence not suited for meeting large-scale and continuous power demand. Wind and solar power depends on the intensity of wind and sunlight respectively.Further, the report states that public opposition arising from the environmental risks associated with nuclear power plants are significant barriers inhibiting market growth.
Areva, China National Nuclear Cooperation (CNNC), Larsen and Toubro (L&T), NIAEP ASC, Westinghouse Electric Company, Atomic Energy of Canada, Bharat Heavy Electricals, GE Hitachi, KEPCO, Mitsubishi Heavy Industries
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