Global Nuclear Fuel Assembly Market Value to Exceed $32 Billion by 2025, According to a New Study on ASDReports
Wednesday 6 May 2015, Amsterdam
The global market value for nuclear fuel assembly will increase from approximately $22.2 billion in 2014 to just under $32.1 billion by 2025, representing a Compound Annual Growth Rate (CAGR) of 2.5%.
The company's latest report, now available on ASDReports, states that rising power demand, the need to cut greenhouse gas emissions and soaring fossil fuel prices will be the major drivers of market growth throughout the forecast period.
The report says the ever-growing worldwide demand for electricity will require the optimal utilization of existing nuclear reactors and the deployment of new plants by 2025, which will increase the need for nuclear fuel.
The report explains: “Some developing countries, such as China and India, have witnessed significant increases in power demand and formulated extensive nuclear development plans to meet this.
“Nations are considering nuclear as a viable option for power generation, as it can produce a large amount of energy from relatively little fuel and generate electricity with minimal direct environmental impact.”
The analyst adds that some leading exporters of fossil fuel products, such as Iran and Saudi Arabia, intend to develop nuclear power to decrease domestic oil consumption while boosting exports.
Despite these motivating factors, a number of challenges remain to nuclear power development, including safety concerns, the issue of nuclear waste disposal, difficulty financing projects, and the technology„s lack of popularity, which will subsequently impact the fuel assembly market.
The report continues: “Many governments have been compelled to reconsider their nuclear energy strategies due to negative public opinion stemming from accidents and disasters, such as those at Three Mile Island, Chernobyl, and Fukushima.
“The challenges faced by the nuclear industry have increased, with uncertain market conditions and delays in projects leading to escalated construction costs. Furthermore, increased safety requirements, long payback periods and huge decommissioning costs have all contributed significantly to the diminished economic attractiveness of nuclear power plants,” the analyst concludes.
This report provides analysis of the global nuclear industry and the demand for fuel assemblies in various key regions, including Europe, Asia-Pacific and North America. It includes annualized market size data for nuclear fuel assembly, uranium, conversion, enrichment and fabrication from 2006 to 2014 and forecast up to 2025.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis.
Fuel Assemblies For Nuclear Power, Update 2015 - Global Market Size, Average Pricing, Competitive Landscape, and Key Country Analysis to 2025
Publish date : April 2015
Report code : ASDR-195066
Pages : 463