Asia-Pacific Nuclear Power Plant and Equipment Market Size (2024 - 2029)

The Asia-Pacific nuclear power plant and equipment market is poised for growth, driven by increasing power consumption and government initiatives to expand the nuclear energy sector. Despite challenges such as high initial investment costs and a shift towards renewable energy, the market is expected to expand, with pressurized water reactors leading the growth. China's development of advanced nuclear technology is anticipated to offer significant opportunities, positioning it as the largest and fastest-growing market in the region.

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Market Size of Asia-Pacific Nuclear Power Plant and Equipment Industry

asia pacific nuclear power plant and equipment market size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 5.00 %
Market Concentration Medium

Major Players

asia pacific nuclear power plant and equipment market major players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Nuclear Power Plant and Equipment Market Analysis

The Asia-Pacific nuclear power plant and equipment market is expected to register a CAGR of more than 5% during the forecast period, 2022-2027. The COVID-19 outbreak in Q1 2020 led to an unprecedented and sustained decline in demand for electricity in many countries, at 10% or more, compared to 2019 levels. This has created challenges for both electricity generators and system operators. Factors such as increasing power consumption, the government's aims to expand the nuclear energy share, and therefore, upcoming nuclear power plant projects are expected to drive the market during the forecast period. However, high initial investment cost, growing emphasis on renewable energy, and the difficulties associated with obtaining finance for the nuclear power plant projects are expected to restrain the market growth during the forecast period.

  • Pressurized water reactors (PWR) are expected to dominate the market and register the highest growth rate during the forecast period.
  • With advanced nuclear technology, China ingeniously developed CAP1400 and CAP1000 domestic reactors, which are expected to create ample opportunities for the Asia-Pacific nuclear power plant and equipment market in the coming years.
  • China is expected to be the largest and fastest-growing market in the Asia-Pacific nuclear power plant and equipment market during the forecast period.

Asia-Pacific Nuclear Power Plant and Equipment Industry Segmentation

The Asia-Pacific nuclear power plant and equipment market report includes:

Reactor Type
Pressurized Water Reactor
Pressurized Heavy Water Reactor
Boiling Water Reactor
Other Reactors
Carrier Type
Island Equipment
Auxiliary Equipment
Geography
China
India
Japan
South Korea
Rest of Asia-Pacific
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Asia-Pacific Nuclear Power Plant and Equipment Market Size Summary

The Asia-Pacific nuclear power plant and equipment market is poised for significant growth, driven by increasing power consumption and government initiatives to expand the nuclear energy share. Despite challenges such as high initial investment costs and a growing emphasis on renewable energy, the market is expected to benefit from upcoming nuclear power plant projects. Pressurized water reactors (PWR) are anticipated to dominate the market due to their safety features and environmental benefits. China's advanced nuclear technology, including the development of CAP1400 and CAP1000 reactors, is expected to create substantial opportunities in the region. As the largest and fastest-growing market in the Asia-Pacific, China is set to play a pivotal role in the market's expansion.

China's ambitious plans to increase its nuclear power capacity significantly by 2030 and beyond, supported by a robust project pipeline, are expected to drive the demand for nuclear power plants and equipment. The construction of new plants, such as the ACP100 small modular reactor demonstration project, and international collaborations like the Tianwan and Xudapu Nuclear Power Plant expansions, underscore the country's commitment to nuclear energy. The market is moderately consolidated, with key players including Larsen & Toubro Limited, Shanghai Electric Group Company Limited, and China General Nuclear Power Corporation, among others. These developments highlight the region's strategic focus on enhancing nuclear power infrastructure to meet growing energy demands.

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Asia-Pacific Nuclear Power Plant and Equipment Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Nuclear Power Generation and Forecast, in GW, Asia-Pacific, till 2027

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 Porter's Five Forces Analysis

      1. 1.8.1 Bargaining Power of Suppliers

      2. 1.8.2 Bargaining Power of Consumers

      3. 1.8.3 Threat of New Entrants

      4. 1.8.4 Threat of Substitutes Products and Services

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Reactor Type

      1. 2.1.1 Pressurized Water Reactor

      2. 2.1.2 Pressurized Heavy Water Reactor

      3. 2.1.3 Boiling Water Reactor

      4. 2.1.4 Other Reactors

    2. 2.2 Carrier Type

      1. 2.2.1 Island Equipment

      2. 2.2.2 Auxiliary Equipment

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 India

      3. 2.3.3 Japan

      4. 2.3.4 South Korea

      5. 2.3.5 Rest of Asia-Pacific

Asia-Pacific Nuclear Power Plant and Equipment Market Size FAQs

The Asia-Pacific Nuclear Power Plant and Equipment Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Larsen & Toubro Limited, Shanghai Electric Group Company Limited, China General Nuclear Power Corporation, Korea Hydro & Nuclear Power Co., Ltd. and Doosan Heavy Industries & Construction Co., Ltd. are the major companies operating in the Asia-Pacific Nuclear Power Plant and Equipment Market.

APAC Nuclear Power Plant and Equipment Market Report Snapshots

Asia-Pacific Nuclear Power Plant and Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)