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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Moreover, the emerging initiatives focusing on promoting renewable sources of energy by the government are acting as the key factor that is creating opportunities in the market. New product launches in the market are likely to drive the growth of the nuclear turbine generator market. For instance, in October 2021, Westinghouse Electric Co. LLC had signed an instrumentation and control (I&C) modernization contract with Exelon Generation for its units of boiling water reactor (BWR) at the Limerick Generating Station. Additionally, both the companies would also substitute the analog-based Reactor Protection System (RPS) which is the plant primary safety system along with other systems for a single Plant Protection System.
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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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