Market Size of Asia-Pacific Nuclear Reactor Construction Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > -6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Nuclear Reactor Construction Market Analysis
The Asia-Pacific nuclear reactor construction market is expected to decline at a CAGR of around 6% during the forecast period of 2020 - 2025. Factors such as a large number of reactors with age exceeding 30 years and shift of energy generation from oil and gas towards nuclear energy are expected to be major drivers driving the market. Also, advancement in technology, leading to an increase in efficiency and reliability of modern nuclear power plants, has been a significant factor for the growth of the Asia-Pacific nuclear reactor construction market. However, renewable sources of energy making nuclear power uneconomical has somewhat hampered the growth of the market.
- The pressurized water reactor has dominated the market in recent years and is expected to dominate the market in the forecast period, owing to factors like low cost operating reactor, as both the coolant and the moderator used in the reactor is light water and relatively higher controllable and safer nature of the reactor.
- The increase in electricity demand in the region is expected to provide an excellent opportunity for the Asia-Pacific nuclear reactor construction market in the forecast period.
- China is expected to dominate the market, over rising concerns over pollution from energy plants based on coal and rising electricity demand. The country is the largest electricity generator from nuclear power plants in the region and produced 294.4 TWh of electricity from its nuclear power plants, an increase of over 16% from 2017.
