According to Goldstein Research, “Growing demands for electricity and rising global pressure to minimize carbon emission, many countries are adopting nuclear energy as a clean source for electricity generation, which is expected to impel the demand for condensate pumps in coming years.”Further, demand from new and existing nuclear power stations is set to drive the coolant pump market.
“Global Nuclear Condensate Pumps Market Outlook 2024”
The global Nuclear Condensate Pumps Market is segmented based on component type and by reactor type. Reactor type is further classified into pressurized water reactor, boiling water reactor, pressurized heavy water reactor, gas-cooled reactor, light water graphite reactor, and fast neutron reactor. In 2016, pressurized water reactors accounted for the lion revenue share of more than 50% in global nuclear condensate pump market in 2016, which is likely to continue its dominance over the forecast period.
Browse Full Report: Nuclear Condensate Pumps Market
Goldstein Research analyst forecast the global nuclear condensate pumps market size is likely to expand at a CAGR of +5% over the forecast period. Eastern Europe and Asia Pacific region is likely to be the engine for the significant growth of nuclear condensate pumps market during the forecast period.
Regarding geography, nuclear condensate pump market has been categorized into five key regions including North America, Europe, APAC, Latin America, and the Middle East & Africa. Nuclear condensate pump market is predictable to register healthy CAGR during the forecast period due to growing number of ongoing and planned nuclear reactor projects majorly in Asia and Eastern Europe. In rapidly developing countries of Asia-Pacific, the growth of nuclear condensate pump is significantly high and with comparatively high CAGR in forecast period owed to factors such as such as rapid economic development and significant adoption of nuclear energy.
New Nuclear Reactor Projects: Major Boost
Nuclear power capacity across the globe is increasing gradually, with about 50 nuclear reactors under construction. Most of the planned nuclear reactors are in the Asian region, though there are major plans for new units in Russia. Nuclear reactors are being constructed in 13 countries, notably China, India, UAE and Russia which are the major growth engines for the nuclear condensate pumps market. Other emerging countries with dedicated plans for nuclear reactors include: Lithuania, Turkey, Bangladesh, Jordan, Poland, and Egypt.
“Global Nuclear Condensate Pumps Market Outlook 2024” contains a detailed overview of the global nuclear condensate pumps market in terms of market segmentation by component type and by reactor type.
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.
Global Nuclear Condensate Pumps Market Report also provides a competitive outlook of some of the major players which includes profiling of companies such as Areva, General Electric, Alstom Power, KSB Pumps, Bharat Heavy Electricals Limited, Flowserve Corporation, Westinghouse Electric Company 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 global nuclear condensate 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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