The Business Research Company’s Nuclear Electricity Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, September 25, 2021 /EINPresswire.com/ — According to the new market research report ‘Nuclear Electricity Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the nuclear electricity market is expected to grow from $65.24 in billion 2020 to $66.42 billion in 2021 at a compound annual growth rate (CAGR) of 1.8%. The growth 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 market is expected to reach $76.74 billion in 2025 at a CAGR of 4%. The growing demand for electricity is expected to be a key driver of the nuclear electric power generation market in 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.
Trends In The Global Nuclear Electricity Market
The power generation industry and the downstream power distribution industries are digitizing their assets and are increasingly relying on technology. The industry is becoming increasingly vulnerable to rising number of cyber-attacks. For instance, in September 2019, Kudankulam Nuclear Power Plant (KKNPP), which is India’s biggest nuclear power plant and feed India’s southern power grid suffered a cyber-attack in which the nuclear power plant’s administrative network was breached in the attack.
Global Nuclear Electricity Market Segments:
The global nuclear electricity market is further segmented based on reactor type, end-user, technology and geography.
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, and Generation IV
By Geography: The global nuclear electricity market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Nuclear Electricity Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides nuclear electricity market overviews, analyzes and forecasts market size and growth for the global nuclear electricity market, nuclear electricity market share, nuclear electricity market players, nuclear electricity market segments and geographies, nuclear electricity market’s leading competitors’ revenues, profiles and market shares. The 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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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Nuclear Electricity Market Organizations Covered: 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.
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