Market Size of Asia-Pacific Nuclear Power Plant and Equipment Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Nuclear Power Plant and Equipment Market Analysis
The Asia-Pacific nuclear power plant and equipment market is expected to register a CAGR of more than 5% during the forecast period, 2022-2027. The COVID-19 outbreak in Q1 2020 led to an unprecedented and sustained decline in demand for electricity in many countries, at 10% or more, compared to 2019 levels. This has created challenges for both electricity generators and system operators. Factors such as increasing power consumption, the government's aims to expand the nuclear energy share, and therefore, upcoming nuclear power plant projects are expected to drive the market during the forecast period. However, high initial investment cost, growing emphasis on renewable energy, and the difficulties associated with obtaining finance for the nuclear power plant projects are expected to restrain the market growth during the forecast period.
- Pressurized water reactors (PWR) are expected to dominate the market and register the highest growth rate during the forecast period.
- With advanced nuclear technology, China ingeniously developed CAP1400 and CAP1000 domestic reactors, which are expected to create ample opportunities for the Asia-Pacific nuclear power plant and equipment market in the coming years.
- China is expected to be the largest and fastest-growing market in the Asia-Pacific nuclear power plant and equipment market during the forecast period.
