Market Size of South America Nuclear Power Plant Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Nuclear Power Plant Equipment Market Analysis
The South American nuclear power plant equipment market is expected to register a CAGR of more than 5% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently, the market is likely to reach pre-pandemic levels.
- Over the medium term, the significant contribution of nuclear energy to reducing GHG emissions while fulfilling the increasing energy demands of a growing population and supporting sustainable development is driving the market.
- On the other hand, rising investments in alternative clean energy sources such as solar and wind are expected to restrain the market's growth during the forecast period.
- Nevertheless, the research and development into commercializing new nuclear reactor designs, such as the Fast Breeder Reactor, is expected to be a significant opportunity for the market beyond the forecast period.
- Brazil is anticipated to dominate the market during the forecast period. With the upgrade of existing projects and the addition of new reactors, the nation is expected to witness significant growth.
