Market Size of South America Nuclear Reactor Construction Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | > -0.50 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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South America Nuclear Reactor Construction Market Analysis
The South America nuclear reactor construction market is expected to decline at a CAGR of around 0.5% during the forecast period of 2020 - 2025. Factors such as shift of energy generation from oil and gas towards nuclear energy is expected to be major driver 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 South America 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 South America nuclear reactor construction market in the forecast period.
- Argentina is expected to dominate the market, over rising concerns over pollution from energy plants based on coal and rising electricity demand.