Growing Economies Aid Nuclear Electricity Market Revenue
The Business Research Company’s Nuclear Electricity Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, February 17, 2022 /EINPresswire.com/ — The growing demand for electricity is expected to be a key driver of the nuclear electric power generation market in the forecast period. This can be attributed to growing economies, rising populations, especially in developing countries such as China, India, Brazil, and some African countries. China and India will account for a major portion of this growth. According to the government data, India’s energy consumption increased 13.38 percent to 110.94 billion units (BU) in October 2020, mainly driven by buoyancy in industrial and commercial activities. Furthermore, the global household appliances market is expected to grow to $396.2 billion by 2022 supporting the demand for electricity and driving the nuclear electric power generation market going forward.
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%. TBRC’s nuclear electricity market overview shows that the growth in the 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 market is expected to reach $239.17 billion in 2026 at a CAGR of 7.4%.
Read more on the Global Nuclear Electricity Market Report:
https://www.thebusinessresearchcompany.com/report/nuclear-electricity-global-market-report
Global issues such as energy security, climate change, and electricity demand growth have changed the nuclear electricity market outlook and have increased the use of nuclear energy for power generation. Nuclear technology provides large amounts of power with significantly low carbon emissions. According to the world nuclear association (WNA) 2020, Nuclear energy now provides about 10% of the world’s electricity from about 440 power reactors. Around 50 more reactors are under construction, equivalent to around 15% of the existing capacity. In 2019 nuclear plants provided 2657 TWh of electricity, up from 2563 TWh in 2018. New nuclear markets such as Bangladesh, Turkey, and Vietnam are also making progress in the nuclear power generation plant construction.
Major players covered in the global nuclear electricity industry are EDF Group, Exelon Corp, Duke Energy Corp, Enel SpA and NextEra Energy, Inc.
TBRC’s global nuclear electricity market analysis report is segmented by reactor type into 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 into residential, commercial, industrial, by technology into generation I, generation II, generation III, generation IV.
Nuclear Electricity Global Market Report 2022 – 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) – Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides a nuclear electricity market overview, forecast nuclear electricity market size and growth for the whole market, nuclear electricity market segments, nuclear electricity market geographies, nuclear electricity market trends, nuclear electricity market drivers, restraints, leading competitors’ revenues, profiles, and nuclear electricity market shares.
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