27-Apr-2023 | Facts and Factors
According to the Facts and Factors report, the global nuclear reactor construction market size was valued around USD 27 billion in 2022 and is expected to surpass around USD 35 billion by 2030 with a compound annual growth rate (CAGR) of roughly/approximately 3.78% between 2023 and 2030 or during the projection/forecast period 2023-2030.
A nuclear reactor is a system which is used to initiate and control repeated reactions to the nuclear chain. Mini reactors are used in nuclear power plants for electricity generation and for ship propulsion. To drive the steam turbines, the heat produced by nuclear fusion is transferred into the working fluid, such as water or gas. Nuclear reactors are used to produce isotopes that are used for medical and industrial purposes as well as for the manufacture of plutonium in the weapons class. Many reactors are used primarily for research purposes. As of 31 December 2022, according to the International Atomic Energy Agency, 448 nuclear reactors are in operation, and 61 nuclear reactors are under construction worldwide.
Browse the full “Nuclear Reactor Construction Market By Type (Boiling Water Reactor (BWR), Pressurized Water Reactor (PWR), High-temperature Gas Cooled Reactor, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2023–2030" https://www.fnfresearch.com/nuclear-reactor-construction-market-by-type-boiling-water-1181
Technology advances have emerged as one of the main factors driving the increase in demand for nuclear reactor construction because of the techno-economic benefits of nuclear reactor technology. In the near future, the development in nuclear reactor technology is expected to improve cash flow into the nuclear reactor construction market. With development in the economies of the Middle East and Africa (MENA), demand for electricity is on the rise. Key countries in the region are investing in energy-generation technologies based on non-fossil fuels, particularly in a small nuclear reactor, followed by a few big companies. Saudi Arabia plans to achieve 30-50 per cent of its nuclear program's local content by 2030.
Likewise, Jordan and some other countries are now in the early stages of development of nuclear power plants, which would likely provide an opportunity to broaden the region's global nuclear reactor development market during the projected period. Asia-Pacific is the fastest-growing area on the turbo-machine market and over the projected period is projected to continue to grow rapidly. North America holds the world's largest share of the market for nuclear reactor production. Nevertheless, some nuclear reactors, especially in the United States, were also shut down by political, regulatory and economic issues before their life span expired. However, the difficulty of obtaining raw materials for nuclear power generation may restrict the growth of the demand for the construction of nuclear reactors.
The global Nuclear Reactor Construction industry is divided, based on the type of reactors, such as boiling water reactors (BWRs), pressurized water reactors (PWRs), High-temperature Gas Cooled Reactor, and others. PWRs are currently the most active reactors. North America, followed by Asia Pacific, had the highest PWR sales on the Nuclear Reactor Construction market in 2022. The majority of the decommissioned BWRs are based in North America and Europe. Certain nuclear reactors, including gas-cooled reactors and fast-breeding reactors, are favored primarily in European countries.
Report Scope
Report Attribute |
Details |
Market Size in 2022 |
USD 27 Billion |
Projected Market Size in 2030 |
USD 35 Billion |
CAGR Growth Rate |
3.78% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
China National Nuclear Corporation, Areva S.A., State Atomic Energy Corporation, Westinghouse Electric Company LLC., Rosatom, Hitachi-GE Nuclear Energy Ltd., Larsen & Toubro Limited, Mitsubishi Heavy Industries Ltd., KEPCO, and Others |
Key Segment |
By Type, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the leading players in the global market include
China National Nuclear Corporation, Areva S.A., State Atomic Energy Corporation, Westinghouse Electric Company LLC., Rosatom, Hitachi-GE Nuclear Energy Ltd., Larsen & Toubro Limited, Mitsubishi Heavy Industries Ltd., KEPCO, and Others.
This report segments the bipolar disorder therapeutics market as follows:
By Type Segmentation Analysis
- High-temperature Gas Cooled Reactor
- Pressurized Heavy Water Reactor
- Boiling Water Reactor
- Others
By Regional Segmentation Analysis
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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