Market Size of Asia-Pacific Nuclear Reactor Construction Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > -6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Nuclear Reactor Construction Market Analysis
The Asia-Pacific nuclear reactor construction market is expected to decline at a CAGR of around 6% during the forecast period of 2020 - 2025. Factors such as a large number of reactors with age exceeding 30 years and shift of energy generation from oil and gas towards nuclear energy are expected to be major drivers driving the market. Also, advancement in technology, leading to an increase in efficiency and reliability of modern nuclear power plants, has been a significant factor for the growth of the Asia-Pacific nuclear reactor construction market. However, renewable sources of energy making nuclear power uneconomical has somewhat hampered the growth of the market.
- The pressurized water reactor has dominated the market in recent years and is expected to dominate the market in the forecast period, owing to factors like low cost operating reactor, as both the coolant and the moderator used in the reactor is light water and relatively higher controllable and safer nature of the reactor.
- The increase in electricity demand in the region is expected to provide an excellent opportunity for the Asia-Pacific nuclear reactor construction market in the forecast period.
- China is expected to dominate the market, over rising concerns over pollution from energy plants based on coal and rising electricity demand. The country is the largest electricity generator from nuclear power plants in the region and produced 294.4 TWh of electricity from its nuclear power plants, an increase of over 16% from 2017.
Asia-Pacific Nuclear Reactor Construction Industry Segmentation
The Asia-Pacific nuclear reactor construction market report include:
| Service | |
| Equipment | |
| Installation |
| Reactor Type | |
| Pressurized Water Reactor | |
| Pressurized Heavy Water Reactor | |
| Boiling Water Reactor | |
| High-temperature Gas Cooled Reactor | |
| Liquid Metal Fast Breeder Reactor |
| Geography | |
| China | |
| India | |
| Rest of Asia-Pacific |
Asia-Pacific Nuclear Reactor Construction Market Size Summary
The Asia-Pacific nuclear reactor construction market is experiencing a shift driven by the aging of existing reactors and a transition towards nuclear energy from traditional oil and gas sources. Technological advancements have enhanced the efficiency and reliability of modern nuclear power plants, contributing to market growth. However, the rise of renewable energy sources has posed challenges, making nuclear power less economically attractive. The pressurized water reactor (PWR) has been the dominant technology due to its cost-effectiveness and safety features, and it is expected to maintain its leading position. The increasing demand for electricity in the region presents significant opportunities for market expansion, particularly in China, which is the largest nuclear electricity generator in the region.
China's proactive approach in the nuclear sector, aimed at reducing coal dependency, has solidified its dominance in the Asia-Pacific nuclear reactor construction market. The country boasts the largest nuclear power expansion program globally, despite previous regulatory challenges following the Fukushima disaster. China's nuclear policy remains a crucial component of its energy strategy, focusing on meeting rising electricity demand and reducing emissions. The market is moderately consolidated, with key players including Rosatom State Nuclear Energy Corporation, Westinghouse Electric Company LLC, Larsen & Toubro Limited, Mitsubishi Heavy Industries Ltd, and China National Nuclear Corporation, all contributing to the region's nuclear ambitions.
Asia-Pacific Nuclear Reactor Construction Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Service
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2.1.1 Equipment
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2.1.2 Installation
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2.2 Reactor Type
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2.2.1 Pressurized Water Reactor
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2.2.2 Pressurized Heavy Water Reactor
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2.2.3 Boiling Water Reactor
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2.2.4 High-temperature Gas Cooled Reactor
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2.2.5 Liquid Metal Fast Breeder Reactor
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Rest of Asia-Pacific
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Asia-Pacific Nuclear Reactor Construction Market Size FAQs
Who are the key players in Asia-Pacific Nuclear Reactor Construction Market?
Rosatom State Nuclear Energy Corporation , Westinghouse Electric Company LLC (Toshiba) , Larsen & Toubro Limited , Mitsubishi Heavy Industries Ltd and China National Nuclear Corporation are the major companies operating in the Asia-Pacific Nuclear Reactor Construction Market.
What years does this Asia-Pacific Nuclear Reactor Construction Market cover?
The report covers the Asia-Pacific Nuclear Reactor Construction Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Nuclear Reactor Construction Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
