Global Nuclear Electricity Market Outlook, Opportunities And Strategies
Learn about the global nuclear electricity market through The Business Research Company, which provides information on nuclear electricity market size, nuclear electricity market drivers and restraints, nuclear electricity market players, the COVID-19 impact on the nuclear electricity market, and more.
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The global nuclear electricity market size is expected to grow from $166.13 in billion 2021 to $179.89 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The growth in the nuclear electricity market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The nuclear electricity market is expected to reach $239.17 billion in 2026 at a CAGR of 7.4%.
The growing demand for electricity is expected to drive innovation in nuclear electricity manufacturing, thus driving the market during the forecast period.
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The nuclear electric power generation market consists of sales of nuclear electric power and related services that convert nuclear energy into electrical energy. The nuclear electric power generation industry includes establishments that operate nuclear power plants which use uranium as a fuel to generate electricity. Nuclear power plants use the heat produced during nuclear fission. In nuclear fission, which takes place inside the reactor of a nuclear power plant, atoms are split apart to form smaller atoms, releasing energy. The heat produced in the reactor core during nuclear fission is used to boil water into steam, which converts the blades of a steam turbine. As the turbine blades turn, they drive generators that produce electricity. The electrical energy produced is directly provided to power transmission systems, which are used to move large quantities of power from generating facilities to substations and distribution systems, which are used for short distances, generally to transport electricity to customers locally.
Global Nuclear Electricity Market Segments Include:
By Reactor Type: Pressurized Water Reactors (PWR), Fast Breeder Reactor (FBR), Pressurized Heavy-Water Reactor (PHWR), Boiling Water Reactor (BWR), Light Water Graphite Reactor (LWGR), Gas-Cooled Reactor (GCR)
By End-User: Residential, Commercial, Industrial
By Technology: Generation I, Generation II, Generation III, Generation IV
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Global issues such as energy security, climate change, and electricity demand growth have led to an increase in the use of nuclear energy for power generation. Nuclear technology provides large amounts of power with significantly low carbon emissions.
TBRC’s nuclear electricity market report covers:
Major Market Players: EDF Group, Exelon Corp, Duke Energy Corp, Enel SpA and NextEra Energy, Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Nuclear Electricity Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides nuclear electricity market overviews, analyses and forecasts market size, share, nuclear electricity market players, nuclear electricity market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s nuclear electricity market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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