Market Size of North America 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 | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Nuclear Power Plant Equipment Market Analysis
The North America nuclear power plant equipment market is expected to grow at a CAGR of more than 3% in the forecast period.
Although the market studied was affected by COVID-19 in 2020, it has recovered and reached pre-pandemic levels.
- Over the medium term, the significant contribution of nuclear energy in reducing GHG emissions while fulfilling the increasing energy demands and supporting sustainable development 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.
- The United States dominates the market, and it is expected to record the highest CAGR during the forecast period. This growth is attributed to the increasing investments and rising emphasis on nuclear energy.
