Market Size of Europe Nuclear Power Plant and Equipment Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Nuclear Power Plant and Equipment Market Analysis
The European nuclear power plant and equipment market is expected to witness a CAGR of around 2% during the forecast period. The COVID-19 pandemic adversely affected the nuclear power market due to crashed electricity demand. It was recorded that electricity generation from nuclear reactors reduced by 11% in the European Union (EU) countries in 2020 due to low power demand. The European nuclear power plant and equipment market is expected to grow in the near future due to its high proportion of the supply of baseload power in the continent and supportive EU policies to develop the nuclear power generation sector. However, the aggressive competition from other low-carbon electricity sources like renewables is expected to challenge the growth of the market substantially.
- The pressurized water reactor (PWR) type is expected to dominate the market during the forecast period due to its low operating cost.
- Many small countries in the European continent have less availability of land for the growth of renewable power systems, for example, the Netherlands and the Czech Republic. This amplifies the opportunities for other reliable power supply sources like nuclear power. The reactors, once installed, provide a long-term supply of electricity in such countries. The funding issues can be balanced by the support of the European Commission.
- Russia is expected to witness significant growth during the forecast period due to the upcoming nuclear power plants to be added to the installed capacity of the country.
Europe Nuclear Power Plant and Equipment Industry Segmentation
The European Nuclear Power Plant and Equipment market report includes:
| Reactor Type | |
| Pressurized Water Reactor | |
| Pressurized Heavy Water Reactor | |
| Other Reactor Types |
| Carrier Type | |
| Island Equipment | |
| Auxilliary Equipment | |
| Research Reactor |
| Geography | |
| France | |
| Russia | |
| Ukraine | |
| Switzerland | |
| Rest of Europe |
Europe Nuclear Power Plant and Equipment Market Size Summary
The European nuclear power plant and equipment market is poised for growth, driven by its critical role in providing baseload power and supportive EU policies aimed at enhancing nuclear power generation. Despite the challenges posed by the COVID-19 pandemic, which led to a significant reduction in electricity demand and a temporary decline in nuclear power generation, the market is expected to recover and expand. The pressurized water reactor (PWR) type is anticipated to dominate the market due to its cost-effectiveness and the limited availability of land for renewable energy sources in smaller European countries. This scenario presents nuclear power as a reliable alternative for countries like the Netherlands and the Czech Republic, where renewable energy expansion is constrained. The European Commission's support is expected to mitigate funding challenges, further bolstering the market's growth prospects.
Russia is expected to experience significant growth in its nuclear power sector, with plans to expand its installed capacity through the construction of new nuclear power plants. The country aims to increase the share of nuclear energy in its electricity mix substantially by 2050, aligning with its long-term energy strategy. The development of new reactors, such as the Kursk-II and Leningrad-II units, underscores Russia's commitment to enhancing its nuclear capabilities. Meanwhile, other European countries are also planning to expand their nuclear power capacity, with several new PWR projects underway. This collective effort across Europe is expected to strengthen the region's nuclear power market, despite the competitive landscape posed by other low-carbon energy sources. The market remains moderately fragmented, with key players including Rosatom State Atomic Energy Corporation, Doosan Heavy Industries Construction Co. Ltd, Toshiba Corp., Mitsubishi Corp., and General Electric Company, all contributing to the sector's development.
Europe Nuclear Power Plant and Equipment 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 2027
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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 Reactor Type
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2.1.1 Pressurized Water Reactor
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2.1.2 Pressurized Heavy Water Reactor
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2.1.3 Other Reactor Types
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2.2 Carrier Type
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2.2.1 Island Equipment
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2.2.2 Auxilliary Equipment
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2.2.3 Research Reactor
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2.3 Geography
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2.3.1 France
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2.3.2 Russia
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2.3.3 Ukraine
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2.3.4 Switzerland
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2.3.5 Rest of Europe
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Europe Nuclear Power Plant and Equipment Market Size FAQs
What is the current Europe Nuclear Power Plant and Equipment Market size?
The Europe Nuclear Power Plant and Equipment Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Europe Nuclear Power Plant and Equipment Market?
Rosatom State Atomic Energy Corporation, Doosan Heavy Industries Construction Co Ltd, , Toshiba Corp., Mitsubishi Corp. and General Electric Company are the major companies operating in the Europe Nuclear Power Plant and Equipment Market.
