Europe Nuclear Reactor Coolant Pumps Market
Industry Overview
According to Goldstein Research, “Growing demand for new energy sources and necessity for cleaner energy sources are the key factors driving the need for nuclear energy and equipment market.”In the non-EU countries, the outlook is more encouraging for nuclear energy, both in the near term and longer term. Development in the nuclear sector of these countries will be largely determined by the deployment of Russian Water-Water Energetic Reactor (VVER) designs.
“Europe Nuclear Reactor Coolant Pumps Market Outlook 2024”
Europe Nuclear Reactor Coolant Pumps Market is segmented based on component, by the reactor and by applications. Applications generating electricity, propelling aircraft carriers and propelling nuclear submarines. Electricity generation accounted for the highest market share in Europe nuclear reactor coolant pumps market and is likely to grow at a faster pace owing to ongoing nuclear reactors construction and planned nuclear projects in the region.
Browse Full Report: Europe Nuclear Reactor Coolant Pumps Market
Europe nuclear reactor coolant pumps market accounted for the USD 720 million in 2016 owing to the demand from new and replacement parts. Further, the market is projected to grow at a CAGR of 9.4% during the forecast period on the back of under construction and planned power projects in Europe.
Europe is the largest region for nuclear reactor coolant pumps market in 2016 and is expected to grow at a slower pace during the forecast period of 2016-2024. France is expected to dominate the coolant pumps market followed by Russia due to large nuclear energy production and presence of most of the nuclear power plants in the region. Nuclear power plant construction is currently proceeding in only three EU member states – Finland, France, and Slovakia, providing significant growth opportunities.
Non-EU Countries: Opportunity
In the present situations, nuclear power is one of the most vital sectors of Russia’s economy. Vibrant development of the sector is one of the basic conditions to guarantee energy independence of the country and steady growth of the country’s economy. Russian nuclear reactors in the Europe Union countries are in Bulgaria, Czech Republic, Finland, Hungary, and Slovakia. Hungary has an agreement for two more to be constructed, and Finland is planning one with Russian equity. Looking into future, Russian nuclear technology growth is well ahead of any in the EU, with France the only retiring challenge to that.
“Europe Nuclear Reactor Coolant Pumps Market Outlook 2024” contains a detailed overview of the Europe nuclear reactor coolant pumps market in terms of market segmentation by component, by the reactor, and by applications.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Europe Nuclear Reactor Coolant Pumps Market Report also provides a competitive outlook of some of the major players which includes profiling of companies such as Areva, SPX Corporation, KSB Pumps, Weir Group PLC, CNNC, Rosatom, Westinghouse Electric Company, CGN, Hitachi GE Nuclear Energy etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the Europe nuclear reactor coolant pumps market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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