Europe Nuclear Power Plant Equipment Market Size (2024 - 2029)

Europe Nuclear Power Plant Equipment Market Size Summary

The Europe nuclear power plant equipment market is poised for growth, driven by the critical role of nuclear energy in reducing greenhouse gas emissions and meeting the energy demands of a growing population. The market is supported by upcoming projects in Russia and France's substantial reliance on nuclear energy, which is expected to create significant demand for various nuclear power plant equipment. However, challenges such as the premature decommissioning of plants and the phaseout of nuclear energy in countries like Germany pose constraints to market expansion. The pressurized water reactor segment is anticipated to dominate, given its significant share and advantages like low operating costs and reduced fissile material requirements.

Russia is expected to lead the market, with numerous new projects and a focus on expanding nuclear capacity, including the addition of pressurized water reactors and liquid metal fast breeder reactors. The country's proactive approach in constructing and planning new reactors, along with its role as a major exporter of nuclear technology, underscores its dominant position in the market. Despite the overall growth prospects, the market remains moderately consolidated, with key players such as AEM Technologies JSC, Framatome, Mitsubishi Heavy Industries, Doosan Corporation, and Rosatom State Atomic Energy Corporation playing significant roles. Factors like declining nuclear power generation costs and supportive government initiatives are likely to further propel market growth during the forecast period.