The global nuclear turbine generator market is growing at a considerable CAGR of 3.0% during the forecast period. Flourishing demand for power generation is one of the prime factors affecting and driving the market. The growing concern associated with power generation from fossil fuels and the increase in fossil fuel prices is also estimated to be the key factor that is contributing significantly to the growth of the market. However, shortfalls of components in making generators and associated costs due to steam generation are the major factor constraints that are hindering the growth of the global nuclear turbine generator market across the globe.
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Increased funding for nuclear energy drives the construction of new power plants and upgrades, requiring new turbine generators and efficient models for existing plants. According to Iea.Org, in 2023, an estimated $2.8 trillion will be invested in energy, with over $1.7 trillion allocated to clean energy sources such as renewable power, nuclear, grids, storage, low-emission fuels, efficiency improvements, and end-use renewables and electrification. The remaining amount, slightly more than $1.0 trillion, will go to unabated fossil fuel supply and power, including approximately 15.0% for coal and the rest for oil and gas. Thus, for every $1.0 allocated to fossil fuels, $1.7 is directed towards clean energy.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Nuclear Turbine Generator Market by Type
- Pressurized Water Reactor
- Boiling Water Reactor
- Liquid Metal Fast Breeder Reactor (LMFBR)
- Fast Neutron Reactors
- Others
Global Nuclear Turbine Generator Market by Application
- Power Plant
- Oil and Gas Industry
- Spacecraft Propulsion
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Bharat Heavy Electricals Limited (BHEL)
- Cameco Corp.
- China Guangdong Nuclear Power Group
- Duke Energy Corp.
- Florida Power & Light Co.
- General Electric Co.
- Mitsubishi Heavy Industries Ltd.
- OJSC Power Machines
- The Babcock and Wilcox Co.
- Toshiba Corp.
- Westinghouse Electric Company LLC.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global nuclear turbine generator market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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