Significant benefits of nuclear turbine generators include dependability, security, and a perfect source of energy when compared with ordinary energy resources. These factors have contributed to the development and growth of the global nuclear turbine generators market. The establishment of a few new reactors to meet energy needs during the forecasted time period is probably going to be a driver for the growth of the nuclear turbine generator market. Demand from new and upcoming power generator stations is expected to additional improve the market for nuclear turbine generators. The rapid expansion in fossil fuel costs because of consumption and shortage of non-renewable resources is expected to expand the global nuclear turbine generator demand.
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Nuclear generators are expected to observe an increment demand owing to the formation of a potential undiscovered reseller’s market. Another positive driver for the market is the global awareness towards decrease and guideline of environmental change which is additionally liable for decrease utilization of conventional fuels. However, stress corrosion breaking and related expenses because of steam generation are probably going to hamper the market development. Nuclear garbage removal is additionally a hindrance to the growth of the nuclear turbine generators market.
Market Trends
- In February 2021, Nidec Corporation announced to acquire the Mitsubishi Heavy Industries Machine Tool Co., Ltd in order to expand its production capacity and product portfolio.
- In January 2020, Westinghouse Electric Company LLC has completely acquired the rolls Royce’s Nuclear Systems and Services business in North America, this was strategic investment in expanding the company’s nuclear product and services offering.
- In February 2020, Alstom has signed a Memorandum of Understanding (MoU) with Bombardier Inc. and Caisse de depot et placement du Quebec in view of the acquisition of Bombardier Transportation.
- Looking at the new installation in Russia and growing demand from the China, India and South Korea due to rapid industrialization in expected to increase in the growth of nuclear turbine generator in Europe.
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Key Benefits of the Report
- This study presents the analytical depiction of the nuclear turbine generators industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the nuclear turbine generators market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the nuclear turbine generators market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed nuclear turbine generators market analysis based on competitive intensity and how the competition will take shape in coming years
COVID-19 Impact analysis
- Global nuclear turbine generator manufacturers have halted their production process due to disrupted supply of equipment and components from suppliers located in Southeast Asian countries and China owing to lockdown due to COVID-19 pandemic.
- The demand for turbine generator is expected to increase to manage electricity production operations to reduce the human intervention in the process.
- Those companies who were involved with the nuclear turbine generator has not resumed their work yet due to lack of availability of workforce, it might hamper the growth of the market.
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