China Is Heading Its Way To Becoming A World Leader In Nuclear Power

By Goldstein Market Intelligence || 2018-10-16 11:44:02 AM

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China Nuclear Reactor Coolant Pumps Market

Industry Overview

According to Goldstein Research, “to reduce the reliance on fossil fuels for electricity production and to encounter augmented demand for electricity, China is aggressively pursuing nuclear energy production.” Moreover, with fewer constrictions and an amplified need for more energy, China is moving ahead with new nuclear power plant projects which are the major growth driver for the China Nuclear Reactor Coolant Pumps Market

China Nuclear Reactor Coolant Pumps Market Outlook 2024

The China nuclear reactor coolant pumps market is segmented based on component type, reactor type and by applications. Based on the application type, power generation is expected to have the largest market share during the forecast period, owing to new proposed and under construction nuclear power projects in the region. China accounted for the largest market share of 35% revenue in APAC Nuclear Reactor Coolant Pump Market owing to the presence of more than 30 operational and 24 under construction nuclear reactors in the region. 

Browse Full Report: China Nuclear Reactor Coolant Pumps Market

The China nuclear reactor coolant pumps market is anticipated to expand at a CAGR of 17.6% during 2016 and 2024 and is likely to surpass a valuation of USD 1.4 billion by the end of 2024.

China has a booming economy, booming population and growing energy demand. Currently, nuclear electricity is only a small percentage, +2% in China, but China plans a five-fold increase by 2020. China can be expected to deeply encourage its capability to construct and service nuclear energy to countries in both the Middle East and South America, as well as emerging nuclear territories in Africa and South East Asia. These plans of China are also likely to expand the growth of nuclear reactor coolant pumps market in the region.

Depleting Fossil Fuel Reserves and Cumulative Energy Demand: Major Boost

China is the fastest growing nuclear power producer in the world. It has about 38 nuclear energy reactors in operation and additional 19 are under construction. China has increased its figure of operating nuclear reactors by more than ten folds since 2000 and plans to bring five units into commercial operation by 2018. Moreover, China is trying to curb its dependence on coal, which pollutes the air and is hard to transport from the coal mines in the west and north regions of the country to the economically developed southeast coast, China is building most of its reactors along the eastern coast.

“China Nuclear Reactor Coolant Pumps Market Outlook 2024” contains a detailed overview of the China nuclear reactor coolant pumps market in terms of market segmentation by component type, reactor type 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.

China 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, Mitsubishi Heavy Industries 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 China 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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