San Francisco, California, January 23, 2019: The global nuclear reactor market is anticipated to display momentous growth in the years ahead. The surging demand for clean energy is the foremost factor fueling the nuclear reactor market. At present, energy production through nuclear reactors accounts for small percentage of the total energy produced. Worldwide, there are 437 nuclear reactors across 48 countries, and approximately 64 nuclear reactors are under construction.
Technical and scientific advancements in nuclear power plants is also a significant factor behind the growth of worldwide nuclear reactor market. For example, in June 2017, Russia announced it was nearing completion of the world’s first floating nuclear power plant. Floating power plants serve to ensure uninterrupted power supply, along with ample supply of desalinated water in remote areas.
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Below are some key points that players in the global nuclear reactor market could leverage while formulating growth strategies;
• The economic benefit of price per unit of energy generated in a nuclear power plant is serving to boost the market. Nations worldwide are thus increasingly vying to enhance their nuclear power generation capabilities.
• Vast scientific advancements in nuclear power generation processes, and efforts of nations to become self-sufficient for energy are positively impacting the nuclear reactor market.
• In North America, almost 15% of the energy demand in Canada is fulfilled by nuclear energy. Governments in developed countries extend substantial support for nuclear power generation. The large number of nuclear fuel reservoirs in the region is another key factor behind large volume nuclear energy production. The nuclear reactor market is thus benefitted.
• Mergers and acquisitions and strategic collaborations between key players is commonly observed in this market. For example, in May 2017, Électricité de France (EDF) – the French electric company- received approval from the European Union for a share in Areva Group’s nuclear reactor business.
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