South Korea Nuclear Reactor Coolant Pumps Market Size 2016-2024 - Industry Analysis, Demand & Growth Opportunities, Market Outlook

South Korea Nuclear Reactor Coolant Pumps Market 

Market Overview

South Korea has been growing significantly as a nuclear power from past few decades. Not only the growth of South Korea nuclear energy development and deployment continued throughout the time when North America and Western Europe did not grow, but the country continue to gain its position in global nuclear industry on the back of technology advancement and government commitment to export, challenging rivals in several countries. Today, there are 24 operational reactors which provide about one-third of South Korea's electricity from 23 GWe of plant. However, new government tends to steer away the nuclear energy development from South Korea and to increase the portion of renewable energy to 20% by 2030, which is expected to hinder the growth of nuclear reactor coolant pumps market over the forecast period.

Goldstein Research analyst forecast the South Korea nuclear reactor coolant pumps market to expand at a significant rate during the forecast period 2016-2024 owing to growing under construction nuclear power projects and maintenance requirement of older nuclear reactors. Further, the market is likely to expand attribute to the South Korea’s aim to target emerging countries to export its reactor technologies.

Covered in this South Korea Nuclear Reactor Coolant Pumps Market Report

The report covers the present ground scenario and the future growth prospects of the nuclear reactor coolant pumps market for 2016-2024 along with the total revenue of nuclear reactor coolant pumps industry in South Korea. We calculated the market size and revenue share on the basis of revenue generated per segment at regional level. The revenue forecast is given on the basis of number of nuclear reactor coolant pumps manufacturers and current growth rate of the market.

South Korea Nuclear Reactor Coolant Pumps Market Segmentation

By Component Type

• Electric Motors
• Impeller
• Shaft (Rotor)
• Shaft Seal Package
• Bearings
• Flywheel
• Auxiliary Systems

By Reactor Type

• Pressurized Water Reactor
• Boiling Water Reactor
• Pressurized Heavy Water Reactor
• Gas-cooled Reactor
• Light water Graphite Reactor
• Fast Neutron Reactor

By Applications

• Generating Electricity
• Propelling Aircraft Carriers
• Propelling Nuclear Submarines

Based on Applications, electricity generation accounted for the lion share in South Korea nuclear reactor coolant pumps market in 2016. Moreover, electricity production is likely to dominate the market over the forecast period owing to growing demand for electricity in country which is rising 2.2% annually.

South Korea Nuclear Reactor Coolant Pumps Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the South Korea nuclear reactor coolant pumps market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. South Korea nuclear reactor coolant pumps market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Our South Korea nuclear reactor coolant pumps market report comprises of the following companies as the key players in the South Korea nuclear reactor coolant pumps market: Areva, SPX Corporation, KSB Pumps, Weir Group PLC, CNNC (South Korea National Nuclear Corporation), Rosatom, Westinghouse Electric Company, CGN, Hitachi GE Nuclear Energy, Mitsubishi Heavy Industries, Andritz AG, Dongfang Electric Corporation, Ebara Corporation, Flowserve Corporation, Curtiss-Wright Corporation, Shanghai Electric Group Company Limited and Sulzer AG.

According to our South Korea nuclear reactor coolant pumps market study on the basis of extensive primary and secondary research, one major driver in the market is to curb the carbon emission from its thermal power plants which are responsible for more than 50% of electricity production in the country. To reduce carbon emission Korea is shifting its electricity production units to renewable resources and likely to increase its nuclear energy production capacity which is the major factor for the growth of South Korea nuclear reactor coolant pumps market.

According to the report, major trend in South Korea nuclear reactor coolant pumps market is technological advancement of nuclear reactors which are comparatively more efficient than its rivals. For instance, South Korea currently involved in the building of four nuclear reactors in the UAE, under a USD 20 billion contract. Moreover, similar projects are forecast to be launched in the coming years in South Africa, Turkey, Vietnam, Egypt, India, etc.

Further, the report states that one challenge in South Korea nuclear reactor coolant pumps market is new government’s aim to phase out nuclear reactors over some 45 years. The government has planned to shut down its old nuclear reactors and the government plans to invest USD 12.2bn this in developing alternative energy sources in order to curb greenhouse gas emissions by 37 per cent by 2030 under the Paris climate agreement.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this South Korea nuclear reactor coolant pumps market report

• What is the total market size by 2024 and what would be the expected growth rate of sales?
• What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

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