The Global Nuclear Power Plant Equipment Market size was estimated at USD 16.81 billion in 2022 and expected to reach USD 17.37 billion in 2023, projecting growth at a CAGR of 4.07% to reach USD 23.15 billion by 2030.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.

Cumulative Impact of COVID-19:

The COVID-19 pandemic significantly impacted the nuclear power plant equipment market in several ways. At the start of the pandemic, many countries experienced a significant decrease in demand for electricity due to lockdowns and other restrictions to combat the pandemic. The conflict reduced demand for new nuclear power plants and their associated equipment. Additionally, many market players that produce and supply such equipment faced disruption in their supply chains due to lockdowns and travel restrictions, which resulted in higher prices for certain pieces of equipment as well as delays in production or delivery times.

Cumulative Impact of Russia-Ukraine Conflict:

The ongoing conflict between Russia and Ukraine has also had an impact on the market for nuclear power plant equipment. In particular, it’s been difficult for market vendors based in Ukraine to access raw materials needed for producing such equipment due to trade embargoes imposed by Russia which caused shortages of certain types of components and increased prices across the board. Additionally, there have been reports of attacks against Ukrainian nuclear facilities by Russian forces, leading to further disruption in production or delivery times as well as uncertainties around future supplies of certain components used in constructing new plants or repairing existing ones.

Cumulative Impact of High Inflation:

High inflation levels across several countries have also impacted the nuclear power plant equipment market. Prices of raw materials used in construction to labor costs associated with installing or maintaining new equipment or repairing existing ones continue to rise. The surging prices caused some governments or other entities responsible for commissioning such projects to delay their plans until inflation levels stabilize again, depending on macroeconomic conditions.

Market Dynamics:

The market dynamics represent the ever-shifting landscape of the Global Nuclear Power Plant Equipment Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.

  • Drivers
    • Significant demand for clean and renewable energy generation
    • Favorable government initiatives to increase development of clean energy
    • Wide utilization of pressurized water reactor owing to enhanced safety and efficiency
  • Restraints
    • Concerns regarding high cost and long duration of nuclear plant construction
  • Opportunities
    • Introduction of automated and technologically advanced nuclear power plant equipment
    • Growing adaptation of small grid systems in emerging economies
  • Challenges
    • Complex regulatory approvals with greater cost for security

Market Segmentation & Coverage:

    This research report categorizes the Global Nuclear Power Plant Equipment Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:

  • Based on Equipment Type, the market is studied across Control Rod, Decommissioning Equipment, Fuel Storage Rack, Heat Exchangers, Nuclear Fuel Handling Equipment, Pressure Vessels & Tanks, Reactor Type, Steam Generators, Transformer, and Turbine. The Reactor Type is further studied across Boiling Water Reactor, Fast Neutron Reactor, Gas-Cooled Reactor, Light Water Graphite Reactor, Pressurized Heavy Water Reactor, and Pressurized Water Reactor.
  • Based on Installation Areas, the market is studied across Auxiliary Equipment and Island Equipment.
  • Based on Application, the market is studied across District Heating & Heat for Industrial Processes, Electricity, Hydrogen Production, and Seawater Desalination.
  • Based on End-user, the market is studied across Aftermarket and OEM.
  • Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

Company Usability Profiles:

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Nuclear Power Plant Equipment Market, including Ansaldo Energia S.p.A., ATB GROUP S.p.A., Babcock Power Inc., Baker Hughes Company, COMECER S.p.A., Curtiss-Wright Corporation, Doosan Enerbility Co., Ltd., Emerson Electric Co., Hitachi-GE Nuclear Reactor, Holtec International, Korea Electric Power Corporation (KEPCO), Larsen & Toubro Limited, Marubeni Utility Services, Ltd., Mirion Technologies, Inc., Mitsubishi Heavy Industries, Ltd., NuScale Power, LLC, Shanghai Electric Nuclear Power Group Co., Ltd., Southern Company, STENFLEX Rudolf Stender GmbH, TE Connectivity Ltd., Tennessee Valley Authority, TerraPower, LLC., Toshiba Corporation, Westinghouse Electric Company LLC, and W?rtsil? Corporation.

The report provides insights on the following pointers:

  • Market Penetration: Provides comprehensive information on the market offered by the key players
  • Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  • Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
  • Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
  • Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
  • Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

  • What is the market size and forecast of the Global Nuclear Power Plant Equipment Market?
  • What are the inhibiting factors and impact of COVID-19 shaping the Global Nuclear Power Plant Equipment Market during the forecast period?
  • Which are the products/segments/applications/areas to invest in over the forecast period in the Global Nuclear Power Plant Equipment Market?
  • What is the competitive strategic window for opportunities in the Global Nuclear Power Plant Equipment Market?
  • What are the technology trends and regulatory frameworks in the Global Nuclear Power Plant Equipment Market?
  • What is the market share of the leading vendors in the Global Nuclear Power Plant Equipment Market?
  • What modes and strategic moves are considered suitable for entering the Global Nuclear Power Plant Equipment Market?