Market Size of India Nuclear Power Plant Equipment Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Nuclear Power Plant Equipment Market Analysis
The India nuclear power plant equipment market is expected to grow at a CAGR of more than 4% in the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.
- Over the medium term, the significant contribution of nuclear energy in reducing GHG emissions while fulfilling the increasing energy demands of a growing population and supporting sustainable development is driving the market.
- On the other hand, rising investments in alternative clean energy sources such as solar and wind are expected to restrain the market's growth during the forecast period.
- Nevertheless, the research and development into commercializing new nuclear reactor designs, such as Fast Breeder Reactor, is expected to be a significant opportunity for the market beyond the forecast period.
India Nuclear Power Plant Equipment Industry Segmentation
A nuclear power plant is a facility that converts atomic energy into usable power. In a nuclear electric power plant, the heat produced by a reactor is generally used to drive a turbine, which drives an electric generator. Nuclear Power plant equipment is any equipment used in a nuclear power plant for the safe and consistent generation of nuclear energy. The India nuclear power plant equipment market is segmented by Reactor Type and Carrier Type. By Reactor Type, the market is segmented into Pressurized Water Reactors, Pressurized Heavy Water reactors, and Other Reactor Types. By Carrier Type, the market is segmented into Island Equipment, Auxiliary Equipment, and Research Reactor. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion)
| Reactor Type | |
| Pressurized Water Reactor | |
| Pressurized Heavy Water Reactor | |
| Other Reactor Types |
| Carrier Type | |
| Island Equipment | |
| Auxiliary Equipment | |
| Research Reactor |
India Nuclear Power Plant Equipment Market Size Summary
The India nuclear power plant equipment market is poised for growth, driven by the increasing role of nuclear energy in reducing greenhouse gas emissions and meeting the energy demands of a burgeoning population. The market is recovering from the setbacks caused by the COVID-19 pandemic and is expected to reach pre-pandemic levels. Despite the rising investments in alternative clean energy sources like solar and wind, the market is supported by advancements in nuclear reactor designs, such as the Fast Breeder Reactor, which present significant opportunities for future growth. The Pressurized Heavy Water Reactor (PHWR) technology, which uses unenriched natural uranium oxide as fuel and requires efficient heavy water as a coolant, is a key component of this market. India's position as the second-largest market for PHWR technology globally, with ongoing and planned projects, underscores the country's commitment to expanding its nuclear power capabilities.
The demand for nuclear power plant equipment, particularly island equipment, is expected to rise significantly due to the government's plans to increase nuclear energy's share in the country's electricity mix. With a target to source a quarter of its electricity from nuclear energy by 2050, India is investing heavily in new nuclear power facilities. The construction of multiple PHWR units, including those in fleet mode, and substantial orders for turbine islands and steam generators highlight the robust pipeline of projects. Major players in the moderately consolidated market, such as Larsen & Toubro Ltd, Bharat Heavy Electricals Limited, and Rosatom State Atomic Energy Corporation, are poised to benefit from these developments. Additionally, government initiatives to import natural uranium and fuel assemblies are expected to lower generation costs, further driving the market's expansion during the forecast period.
India Nuclear Power Plant Equipment Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Reactor Type
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2.1.1 Pressurized Water Reactor
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2.1.2 Pressurized Heavy Water Reactor
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2.1.3 Other Reactor Types
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2.2 Carrier Type
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2.2.1 Island Equipment
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2.2.2 Auxiliary Equipment
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2.2.3 Research Reactor
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India Nuclear Power Plant Equipment Market Size FAQs
What is the current India Nuclear Power Plant Equipment Market size?
The India Nuclear Power Plant Equipment Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in India Nuclear Power Plant Equipment Market?
Larsen & Toubro Ltd , Hindustan Construction Company , Mitsubishi Heavy Industries , Rosatom State Atomiс Energy Corporation and Bharat Heavy Electricals Limited are the major companies operating in the India Nuclear Power Plant Equipment Market.
