Market Size of North America 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 | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Nuclear Power Plant Equipment Market Analysis
The North America nuclear power plant equipment market is expected to grow at a CAGR of more than 3% in the forecast period.
Although the market studied was affected by COVID-19 in 2020, it has recovered and reached pre-pandemic levels.
- Over the medium term, the significant contribution of nuclear energy in reducing GHG emissions while fulfilling the increasing energy demands and supporting sustainable development is expected to drive the market during the forecast period.
- On the other hand, increasing competition from natural gas and renewables in electricity generation is restraining market growth.
- Nevertheless, rising investments in small modular reactors are expected to be a significant growth opportunity for the market during the forecast period.
- The United States dominates the market, and it is expected to record the highest CAGR during the forecast period. This growth is attributed to the increasing investments and rising emphasis on nuclear energy.
North America 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 in turn drives an electric generator. Nuclear power plant equipment is defined as any equipment used in a nuclear power plant for the safe and consistent generation of nuclear energy.
The North America Nuclear Power Plant Equipment Market is segmented by Reactor Type (Pressurized Water Reactor, Pressurized Heavy Water Reactor, and Other Reactor Types), Carrier Type (Island Equipment, Auxiliary Equipment, and Research Reactor), and Geography (United States, Canada, and Rest of North America). The report offers the market size and forecasts for the market (value in USD billion) for all the above segments.
| Reactor Type | |
| Pressurized Water Reactor | |
| Pressurized Heavy Water Reactor | |
| Other Reactor Types |
| Carrier Type | |
| Island Equipment | |
| Auxiliary Equipment | |
| Research Reactor |
| Geogrpahy | |
| United States | |
| Canada | |
| Rest of North America |
North America Nuclear Power Plant Equipment Market Size Summary
The North America nuclear power plant equipment market is poised for growth, driven by the critical role of nuclear energy in reducing greenhouse gas emissions and meeting rising energy demands. Despite challenges from increasing competition with natural gas and renewable energy sources, the market is expected to benefit from significant investments in small modular reactors. The United States leads the market, with a strong emphasis on nuclear energy and substantial investments, which are anticipated to propel its growth. The market's recovery from the COVID-19 pandemic has been robust, reaching pre-pandemic levels, and is expected to continue expanding over the forecast period.
In Canada, major refurbishment projects at the Darlington and Bruce nuclear units are set to extend the operational lifespan of these plants well into the future. The United States, with its substantial number of pressurized water reactors, is expected to see continued growth in nuclear equipment demand, supported by favorable government initiatives and declining generation costs. The market is moderately consolidated, with key players such as AEM Technologies JSC, Framatome, and GE-Hitachi Nuclear Energy playing significant roles. Recent developments, including the completion of critical testing phases at the Vogtle nuclear expansion project, underscore the ongoing advancements and investments in the sector.
North America 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 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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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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2.3 Geogrpahy
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Rest of North America
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North America Nuclear Power Plant Equipment Market Size FAQs
What is the current North America Nuclear Power Plant Equipment Market size?
The North America Nuclear Power Plant Equipment Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in North America Nuclear Power Plant Equipment Market?
Doosan Corporation , Babcock & Wilcox Company , GE-Hitachi Nuclear Energy, Westinghouse Electric Company LLC and Mitsubishi Heavy Industries Ltd are the major companies operating in the North America Nuclear Power Plant Equipment Market.
