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Nuclear Reactor Construction Market Size (2024 - 2029)

The nuclear reactor construction market is poised for significant expansion, driven by the increasing number of nuclear power plant projects and the aging fleet of reactors worldwide. Technological advancements are contributing to the market's growth by offering techno-economic benefits. Despite the competitive pressure from renewable energy sources due to their lower initial costs and higher safety, the market is expected to benefit from investments in nuclear reactor technologies. The Asia-Pacific region is anticipated to lead in growth, highlighting its potential in the nuclear reactor construction sector.

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Market Size of Nuclear Reactor Construction Industry

Nuclear Reactor Construction Market - Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
CAGR > 1.95 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Nuclear Reactor Construction Market Major Players

*Disclaimer: Major Players sorted in no particular order

Nuclear Reactor Construction Market Analysis

Nuclear Reactor Construction Market is expected to grow with more than a CAGR of 1.95% during the forecast period.

The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.

  • The nuclear reactor construction market is expected to register significant growth during the forecast period, primarily due to the uptake in nuclear power plant construction projects. Moreover, globally there is a large number of reactors with ages exceeding 30 years, which is likely to drive the market over the forecast period. Technological advancements have emerged as one of the major factors driving the growth of the nuclear reactor construction market due to the techno-economic benefits associated with nuclear reactor technology.
  • However, the low initial cost of setting up and the higher safety of renewable create additional demand for renewables to generate electricity which is likely to restrain the market's growth during the forecast period.
  • The development of nuclear reactor technologies is expected to increase the influx of money in the nuclear reactor construction business, creating opportunities for the market in the future.
  • Asia-Pacific is expected to be the fastest-growing region in the nuclear reactor construction market and is expected to grow further during the forecast period.

Nuclear Reactor Construction Industry Segmentation

A collection of devices that can manage nuclear fission to generate electricity is known as a nuclear reactor or power plant. Uranium pellets are the fuel that nuclear reactors utilize to generate nuclear fission. Uranium atoms are split apart under extreme pressure in nuclear reactors. 

The Nuclear Reactor Construction Market is segmented by Service and Reactor Type. By service, the market is segmented into Equipment and Installation. The market is segmented by reactor type into pressurized water and heavily pressurized water, boiling water, high-temperature gas-cooled, and liquid-metal fast-breeder. The report also covers the market size and forecasts for the nuclear reactor construction market across the major regions. For each segment, the market sizing and forecast is based on the revenue (USD Billion).

Service
Equipment
Island Equipment
Auxiliary Equipment
Installation
Reactor Type
Pressurized Water Reactor and Pressurized Heavy Water Reactor
Boiling Water Reactor
High-temperature Gas Cooled Reactor
Liquid-metal Fast-Breeder Reactor
Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Nuclear Reactor Construction Market Size Summary

The nuclear reactor construction market is poised for significant growth, driven by an increase in nuclear power plant projects and the need to replace aging reactors worldwide. Technological advancements in nuclear reactor technology are contributing to this growth by offering techno-economic benefits. However, the market faces challenges from the competitive pricing and safety advantages of renewable energy sources, which could restrain its expansion. Despite these challenges, the development of new nuclear reactor technologies is expected to attract investment, creating future opportunities. The Asia-Pacific region is anticipated to be the fastest-growing market, with countries like China and India leading the charge in expanding their nuclear power capacities.

In the global landscape, the demand for pressurized water reactors (PWRs) is expected to dominate future nuclear projects, particularly in the Asia-Pacific region. This preference is driven by the safety features of PWRs, which address environmental concerns related to radioactive contamination. The market for nuclear power plant equipment is likely to be significantly influenced by the rising demand for PWRs. While North America and Europe have seen limited expansion in nuclear capacity, Asia-Pacific countries are actively planning and constructing new plants to meet their increasing energy needs. Key players in the industry, such as GE-Hitachi Nuclear Energy, Westinghouse Electric Company, and China National Nuclear Corporation, are central to the market's development, with strategic partnerships and projects underway to support global nuclear energy initiatives.

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Nuclear Reactor Construction Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast, until 2027

    3. 1.3 Recent Trends and Developments in the Nuclear Power Industries

    4. 1.4 Investment Opportunities

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Consumers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitutes Products and Services

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Service

      1. 2.1.1 Equipment

        1. 2.1.1.1 Island Equipment

        2. 2.1.1.2 Auxiliary Equipment

      2. 2.1.2 Installation

    2. 2.2 Reactor Type

      1. 2.2.1 Pressurized Water Reactor and Pressurized Heavy Water Reactor

      2. 2.2.2 Boiling Water Reactor

      3. 2.2.3 High-temperature Gas Cooled Reactor

      4. 2.2.4 Liquid-metal Fast-Breeder Reactor

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 South America

      5. 2.3.5 Middle-East and Africa

Nuclear Reactor Construction Market Size FAQs

The Nuclear Reactor Construction Market is projected to register a CAGR of greater than 1.95% during the forecast period (2024-2029)

GE-Hitachi Nuclear Energy, Westinghouse Electric Company LLC (Toshiba), KEPCO Engineering & Construction, SKODA JS a.s. and China National Nuclear Corporation are the major companies operating in the Nuclear Reactor Construction Market.

Nuclear Reactor Constructions Market Report Snapshots

Nuclear Reactor Construction Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)