Market Size of Asia-Pacific Nuclear Power Plant Equipment Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Nuclear Power Plant Equipment Market Analysis
The Asia-Pacific nuclear power plant equipment market is expected to grow at a CAGR of more than 5% in the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the long term, the significant contribution of nuclear energy in reducing GHG emissions while fulfilling the increasing energy demands of a growing population and supporting sustainable development in the country is expected to drive the market during the forecast period.
- On the other hand, increasing competition from natural gas and renewables in electricity generation is restraining market growth.
- Nevertheless, rising investments in small modular reactors are expected to be a significant growth opportunity for the market during the forecast period.
- Due to rising energy consumption, limited fossil fuel reserves, and efforts to reduce emissions, China is expected to be the largest market for nuclear power plant equipment during the forecast period.
