Market outlook of the nuclear power market
Nuclear energy is a reliable power source that can produce uninterrupted, clean energy on a large scale. It is also cheaper compared to fossil fuels as a power source. The increasing power demand in BRIC nations is the key driver for the growth of nuclear power market in these countries. Technavio’s market research analyst expects the nuclear power market grow at a CAGR of 13% during the forecast period. In Russia and China, ships and submarines use nuclear energy as a source of electricity, as they need to be at sea for long durations.The development of nuclear power market in BRIC countries faces strong public opposition due to the safety concerns associated with the nuclear power plants. Post the 2011 Fukushima disaster in Japan, many countries slowed down their nuclear power development plan. Also, disposal of nuclear waste is another challenge for the growth of this market.Segmentation by technology and analysis of the nuclear power marketPressurized water reactor (PWR)Light water graphite reactor (LWGR)Pressurized heavy water reactor (PHWR)Fast breeder reactor (FBR)Boiling water reactor (BWR)During 2014, PWR technology dominated the market in terms of installed capacity. The research report predicts that by 2019, PWR technology will continue to dominate the nuclear power market in BRIC countries.Geographical segmentation of the nuclear market in BRIC countries RussiaChinaIndiaBrazil
Technavio’s market research analyst expects that by 2019, China would overtake Russia in the nuclear power market. The rising electricity demand and the drive towards a cleaner environment are anticipated to fuel the growth of the Chinese market. The industrial sector in China is the market driver for the increased consumption of nuclear energy.Competitive landscape and key vendorsThe nuclear power market in BRIC countries is highly competitive. The market research report predicts that the competitive environment in this market is expected to intensify during the forecast period as a result of technological innovations.The leading vendors in the market are –AREVABHELCNNCL&TNIAEP-ASEWestinghouse
Other vendors in the market include Atomic Energy of Canada, Electrobras Electronulcear, GE Hitachi, Mitsubishi, and Rosatom.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?What are the key factors driving the nuclear power market in BRIC countries?What are the key market trends impacting the growth of the nuclear power market?What are the challenges to market growth?Who are the key vendors in the nuclear energy market in BRIC countries?What are the market opportunities and threats faced by the vendors in the nuclear power market?Trending factors influencing the market shares of the Russia, China, India, and Brazil?What are the key outcomes of the five forces analysis of the nuclear power market in BRIC countries?
Technavio also offers customization on reports based on specific client requirement.Related reportsGlobal Nuclear Power Market 2015-2019Global Nuclear Reactor Construction Market 2015-2019Nuclear Steam Generator (SG) Market in China 2015-2019Nuclear Decommissioning Market in Europe 2014-2018
Technavio Announces the Publication of its Research Report – Nuclear Power in BRIC Countries 2015-2019
Technavio recognizes the following companies as the key players in the Nuclear Power in BRIC Countries: AREVA, BHEL, CNNC, L&T, NIAEP-ASE and Westinghouse
Other Prominent Vendors in the market are: Atomic Energy of Canada, Electrobras Electronulcear, GE Hitachi, Mitsubishi, and Rosatom.
Commenting on the report, an analyst from Technavio’s team said: “Post the Fukushima disaster, safety measures are a major concern for countries. The nuclear reactors are regularly examined to ensure maximum safety. The reactors that are being developed are technologically advanced, and emphasize on simpler device and fuel efficiency. Apart from this, these reactors would enable the plant to survive potential accidents with minimum human intervention.”
According to the report, deployment of renewable energy such as the wind and solar is suitable for generating clean power with no depletion of fossil fuel reserves. Subsidies and government incentives have made these technologies affordable than before. However, harnessing these sources cannot be a reliable option to meet the growing power demand. Both solar and wind energy are intermittent in nature and are not suited for meeting large-scale and continuous power demand.
Further, the report states that development of safe and protected storage facilities and procedures is a major difficulty facing the nuclear power market in the BRIC countries.
AREVA, BHEL, CNNC, L&T, NIAEP-ASE, Westinghouse, Atomic Energy of Canada, Electrobras Electronulcear, GE Hitachi, Mitsubishi, Rosatom.
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