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Nuclear Power and Equipment Market– New Revenue Pockets
Increasing demand for energy and requirement for cleaner generation of electricity are some of the key driversthat are driving the market demand for nuclear power equipment. The market is intended to grow with rapid development ofnuclear activities. The future of nuclear energy has reached a baffling situation with the tragic incident that happened in 2011 at Fukushima, Japan, where a nuclear power plant malfunctioned due to technological failure of the emergency core cooling system. However, with technological advancement and increasing demand for greener energy, the nuclear power plant and equipmentmarket is expected to show sound growth in the coming years.
Asia-Pacific is the largest market for the nuclear power industry followed by Europe. Emerging markets includeNorth America and South America. A large number of nuclear power plants and higher efficiency in electricity generation result in greater need for nuclear activities, which in turn resultsin higher demand for nuclear power.This boom in the nuclear power plant market provides a promising opportunity for nuclear power equipment manufacturers. The globalnuclear powermarket is expected to grow at a CAGR of 3.41% from 2014 to 2019.
Nuclear Power and Equipment Market by Type Reactor Type (PWR and others),Equipment Type (Island Equipment and Auxiliary Equipment) and Geography-Global Trends & Forecasts to 2019
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