Nuclear Turbine Generator Market
Global Nuclear Turbine Generator Market Research By Type (Pressurized Water Reactor, Boiling Water Reactor, Liquid Metal Fast Breeder Reactor (LMFBR), Fast Neutron Reactors and Others), By Application (Power Plant, Oil and Gas Industry, and Spacecraft Propulsion) Forecast 2022-2028
The global nuclear turbine generator market is growing at a considerable CAGR of 3.0% during the forecast period. Flourishing demand for power generation is one of the prime factors affecting and driving the market. The growing concern associated with power generation from fossil fuels and the increase in fossil fuel prices is also estimated to be the key factor that is contributing significantly to the growth of the market. However, shortfalls of components in making generators and associated costs due to steam generation are the major factor constraints that are hindering the growth of the global nuclear turbine generator market across the globe.
Moreover, the emerging initiatives focusing on promoting renewable sources of energy by the government are acting as the key factor that is creating opportunities in the market. New product launches in the market are likely to drive the growth of the nuclear turbine generator market. For instance, in October 2021, Westinghouse Electric Co. LLC had signed an instrumentation and control (I&C) modernization contract with Exelon Generation for its units of boiling water reactor (BWR) at the Limerick Generating Station. Additionally, both the companies would also substitute the analog-based Reactor Protection System (RPS) which is the plant primary safety system along with other systems for a single Plant Protection System.
Impact of COVID-19 Pandemic on the Global Nuclear Turbine Generator Market
The global nuclear turbine generator market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic had brought a lot of disruption across the globe. Due to the COVID-19 pandemic, various manufacturing facilities across various countries were shut down due to lockdown restrictions that had impacted the market in an adverse manner.
Segmental Outlook
The global nuclear turbine generator market is segmented based on type and application. Based on type, the market is segmented into pressurized water reactor, boiling water reactor, liquid metal fast breeder reactor (LMFBR), fast neutron reactors, and others. Further, by application, the market is segmented into the power plant, oil and gas industry, and spacecraft propulsion.
Global Nuclear Turbine Generator Market Share by End-User 2021 (%)
The Pressurized Water Reactor Segment is anticipated to lead the growth of the Global Nuclear Turbine Generator Market
Based on the type segment, the pressurized water reactor segment holds a significant share in the market. The pressurized water reactor is operating using the energy derived from steam generated by the way of heating water in a core. The pressure that is made within the reactor increases, which enables it to make large amounts of power for various applications. Additionally, the pressurized water reactor is easy to operate owing to less power that is being produced as the heat increases.
Regional Outlooks
The global nuclear turbine generator market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in the global nuclear turbine generator market. North America’s enlarging demand for power generators is one of the prime factors affecting the growth of the market in the region. Additionally, the existence of a large number of players is another main factor that is providing support to the growth of the market in the region.
Global Nuclear Turbine Generator Market, by Region 2022-2028
Asia-Pacific will have Considerable Growth in the Global Nuclear Turbine Generator Market
Asia-Pacific region is expected to witness significant growth opportunities for the market. The increasing installation of new nuclear turbine generators across the region is likely to drive the growth of the regional market. Additionally, key market companies expanding their reach along with various innovative strategies by them in this region, especially in South Korea, China, and India are also impacting the market. Additionally, increasing industrial projects is another factor that is also affecting the growth of the market.
Market Player Outlook
Key players in the global nuclear turbine generator market are Toshiba Corp., Westinghouse Electric Co. LLC., Duke Energy Corp., and Mitsubishi Heavy Industries Ltd. To survive in the market, these players adopt different marketing strategies such as product launches and mergers and acquisitions. For instance, in December 2021, GE Hitachi Nuclear Energy (GEH) along with two other companies named BWXT Canada Ltd. (BWXT Canada) and Synthos Green Energy (SGE) had set forth to do the collaboration in order to deploy BWRX-300 small modular reactors (SMR) in Poland.
In August 2019, Toshiba Corp. had set forth to do the collaboration with Tokyo Electric Power Company Holdings, Inc., Chubu Electric Power Co., Inc., and Hitachi, Ltd. for the purpose of nuclear energy business associated with boiling water reactors. Additionally, this collaboration would also enhance in the building of a sustainable business framework in order to maintain and develop human resources, technologies, and supply chains.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global nuclear turbine generator market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Nuclear Turbine Generator Market
• Recovery Scenario of Global Nuclear Turbine Generator Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Nuclear Turbine Generator Market by Type
4.1.1. Pressurized Water Reactor
4.1.2. Boiling Water Reactor
4.1.3. Liquid Metal Fast Breeder Reactor (LMFBR)
4.1.4. Fast Neutron Reactors
4.1.5. Others
4.2. Global Nuclear Turbine Generator Market by Application
4.2.1. Power Plant
4.2.2. Oil and Gas Industry
4.2.3. Spacecraft Propulsion
5. Regional Analysis
4.1. North America
4.1.1. United States
4.1.2. Canada
4.2. Europe
4.2.1. UK
4.2.2. Germany
4.2.3. Italy
4.2.4. Spain
4.2.5. France
4.2.6. Rest of Europe
4.3. Asia-Pacific
4.3.1. China
4.3.2. India
4.3.3. Japan
4.3.4. South Korea
4.3.5. Rest of Asia-Pacific
4.4. Rest of the World
6. Company Profiles
6.1. Bharat Heavy Electricals Limited (BHEL)
6.2. Cameco Corp.
6.3. China Guangdong Nuclear Power Group
6.4. Duke Energy Corp.
6.5. Florida Power & Light Co.
6.6. General Electric Co.
6.7. Mitsubishi Heavy Industries Ltd.
6.8. OJSC Power Machines
6.9. The Babcock and Wilcox Co.
6.10. Toshiba Corp.
6.11. Westinghouse Electric Company LLC.
1. GLOBAL NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
2. GLOBAL PRESSURIZED WATER REACTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL BOILING WATER REACTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL LIQUID METAL FAST BREEDER REACTOR (LMFBR) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL FAST NEUTRON REACTORS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL NUCLEAR TURBINE GENERATOR FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
8. GLOBAL NUCLEAR TURBINE GENERATOR FOR POWER PLANT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL NUCLEAR TURBINE GENERATOR FOR OIL AND GAS INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL NUCLEAR TURBINE GENERATOR FOR SPACECRAFT PROPULSION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
12. NORTH AMERICAN NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
14. NORTH AMERICAN NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
15. EUROPEAN NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. EUROPEAN NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
17. EUROPEAN NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
18. ASIA-PACIFIC NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
21. REST OF WORLD NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. REST OF WORLD NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
23. REST OF WORLD NUCLEAR TURBINE GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL NUCLEAR TURBINE GENERATOR MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL NUCLEAR TURBINE GENERATOR MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL NUCLEAR TURBINE GENERATOR MARKET, 2022-2028 (%)
4. GLOBAL NUCLEAR TURBINE GENERATOR MARKET SHARE BY TYPE, 2021 VS 2028 (%)
5. GLOBAL PRESSURIZED WATER REACTOR MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL BOILING WATER REACTOR MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL LIQUID METAL FAST BREEDER REACTOR (LMFBR) MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL FAST NEUTRON REACTORS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL NUCLEAR TURBINE GENERATOR FOR OTHERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL NUCLEAR TURBINE GENERATOR MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
11. GLOBAL NUCLEAR TURBINE GENERATOR FOR POWER PLANT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL NUCLEAR TURBINE GENERATOR FOR OIL AND GAS INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL NUCLEAR TURBINE GENERATOR FOR SPACECRAFT PROPULSION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL NUCLEAR TURBINE GENERATOR MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. US NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
16. CANADA NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
17. UK NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
18. FRANCE NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
19. GERMANY NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
20. ITALY NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
21. SPAIN NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
22. REST OF EUROPE NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
23. INDIA NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
24. CHINA NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
25. JAPAN NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
26. SOUTH KOREA NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF ASIA-PACIFIC NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD NUCLEAR TURBINE GENERATOR MARKET SIZE, 2021-2028 ($ MILLION)
