Global nuclear turbine
generator market. According to the findings of the report, the
nuclear turbine generator market, which was valued at US$7,006.1
million in 2013, is expected to reach US$15,616.7 million by the end
of 2020, registering growth at an impressive CAGR of 12.0% between
2014 and 2020. The report is titled “Nuclear Turbine Generator
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2014 – 2020”.
Browse Nuclear Turbine
Generator Market Report with Full TOC at
http://www.transparencymarketresearch.com/nuclear-turbine-generator.html
Globally, the demand for
energy is anticipated to increase rapidly as a consequence of
population and economic growth. Additionally, surging
industrialization across emerging BRICS economies will also propel
the demand for energy. The inadequacy in supply of energy through
conventional means of power generation is likely to act as a
catalyst, triggering the market for nuclear turbine generators. Until
recently, economies around the world were mostly dependent on fossil
fuel to address their power need. However, rising carbon emissions
and the deteriorating environment has prompted international
communities to search for alternative sources of energy. Energy
derived from nuclear power is safe, clean, and reliable, and hence
has emerged as an increasingly important alternative energy.
Despite exhibiting strong
prospects for growth, the nuclear turbine generator market faced a
major backlash after the 2011 Fukushima Daiichi nuclear disaster in
Japan, which intensified concerns pertaining to the risk of stress
corrosion cracking. The occurrence of such devastating accidents can
inhibit the growth of the nuclear turbine generator market. However,
the report indicates lucrative market prospects for the nuclear
turbine generator market in Europe. The gradually increasing demand
for safer and cleaner sources of energy in Europe will help the
market for nuclear turbine generators to flourish in the near future.
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To present a 360-degree
overview of the nuclear turbine generator market, the report segments
it on the basis of product types into nuclear generators and nuclear
turbines. Rising number of nuclear reactor installations across the
globe propels the demand for nuclear turbines and nuclear generators.
According to the study, the world has 435 nuclear reactors in
operation, with construction of about 70 more underway.
The global market for nuclear
turbine generators is at present dominated by Europe. Asia Pacific is
the second largest market for nuclear turbine generators, followed by
North America. Positive growth is estimated for the nuclear turbine
generator market in these regions between 2014 and 2020. Europe is
slated for the installation of new nuclear turbine generators,
primarily in Russia, which is projected to give a significant impetus
to the market. North America is also an important market for nuclear
turbine generators, with the U.S. accounting for the majority of
demand generated in the region. However, plummeting gas prices since
the economic slowdown in 2009 are hampering the progress of new
projects. Nevertheless, the market is expected to gain momentum in
forthcoming years, following the consistent efforts by the U.S.
government to accelerate approval of new plants.
Some of the key players
profiled in the report are Westinghouse Electric Company LLC, General
Electric, Alstom Power, Toshiba Corporation, Mitsubishi Heavy
Industries, Ltd. (MHI), and Bharat Heavy Electricals Limited (BHEL).
Browse Press Release Of
Nuclear Turbine Generator Market
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