Nuclear Reactor Construction Market to Grow at 5.19% CAGR during 2017 to 2021
Mar 24, 2017
The Global Nuclear Reactor Construction Market 2017-2021 report considers the under construction nuclear projects and proposed projects in the given forecast period. This report covers the present scenario and the growth prospects of the global nuclear reactor construction market for 2017-2021.
March 24, 2017 /MarketersMedia/ —
One of the major drivers for nuclear reactor construction market is prefabricated structure gaining prominence. Prefabricated structures help reduce the cost and period of construction, which are apparently very high for nuclear reactors. Nuclear projects such as Flamanville 3 in France is behind its construction schedule, which resulted in the increasing cost of the overall project.
Complete report on nuclear reactor construction market spread across 70 pages, analyzing 5 major companies and providing 42 data exhibits are now available at http://www.reportsnreports.com/reports/929062-global-nuclear-reactor-construction-market-2017-2021.html .
The analysts forecast global nuclear reactor construction market to grow at a CAGR of 5.19% during the period 2017-2021. The latest trend gaining momentum in the market is growing construction of steel plate composite. The nuclear reactor construction is a long process, which further gets prolonged due to postponement in constructions. After the Fukushima, nuclear reactor accident, more importance is given to nuclear power plant designs and resilience. There are a few measures taken to increase the safety and resilience.
The global nuclear reactor construction market is highly concentrated with major players of the industry keeping the maximum market share. The global market is likely to witness strategic mergers and acquisitions in the future to reduce the financial gap funding that is quite common in the market.
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Key players in the global nuclear reactor construction market: AREVA, GE Hitachi Nuclear Energy, KEPCO, Mitsubishi Heavy Industries, and ROSATOM. Other Prominent Vendors in the market are: AECOM, Ansaldo Nucleare, Atomstroyexport, Bechtel, BHAVINI, Bouygues Construction, Canadian Nuclear Laboratories, China Nuclear E&C Group, CNNC, EDF Energy, ENEC, Hindustan Construction Company, L&T, NTPC, Siemens, Škoda Works, and Westinghouse Electric Company.
A nuclear reactor is a structure where fissile material undergoes controlled and self-sustaining nuclear reaction with simultaneous release of energy that can be used to generate electricity.
Further, the report states that one of the major factors hindering the growth of this market is construction delays and cost overrun. The construction of a nuclear reactor includes various factors such as variable project portfolio, process, and security and safety measurement. All these factors directly affect the cost and schedule of the project. The improper estimation may lead to price escalation as the project progresses. The increase in project cost directly affects the profitability of vendors, as any construction delay is the responsibility of the operator.
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This report, Global Nuclear Reactor Construction Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Source: MarketersMedia
Release ID: 180624
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