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Capacity Additions in Developing Nations Hold the Key to Market Growth
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Nuclear power will continue to play an important role in the energy mix, despite the rise of renewable energy. By 2030, it will continue to account for 7% of the global electricity generated, and in 15–20 countries, it will be a primary source of electricity. The fastest growth is expected in Asia, as nations there are expected to move towards nuclear power to diversify their power mix—away from coal and towards a more carbon-free form of power. The overall pace of growth will be relatively slow, mainly due to long construction times for nuclear reactors, along with increasing cost of new technologies leading to long delays in existing projects, demonstrated most obviously in the delays in Finland and France. Nuclear power is expected to increase from 387 GW in 2017 to 466 GW in 2030, with the most project additions concentrated in China. The country has 18 reactors under construction, followed by India and Russia with 7 reactors each. The Middle East is forecast to be a key region for the deployment of nuclear reactors with the UAE taking the lead, followed by Turkey, Jordan, and Saudi Arabia. Overall installed capacity is expected to decline in Europe and North America, as high capital costs and growth in renewable energy (and gas in parts of North America) deter new investments. Competition among manufacturers is intense, as competition from Russian, Chinese, and South Korean manufacturers, who provide cheaper solutions, enables them to capture projects in the developing world ahead of Western participants.
The study covers the market trends between 2017 and 2030, with the base year being 2017. The geographic coverage is North America, Latin America, Europe, APAC, and the Middle East and Africa. The study assesses the latest technology trends and discusses the various price points and features of reactors, along with country profiles.
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