Global Nuclear Reactor Construction Market 2015-2019

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Nuclear reactors find application in the nuclear plants for generating electricity and propelling ships. As of February 2015, nuclear power plants accounted for 11 percent of the total electricity production globally. Currently, there are 437 nuclear reactors present across 48 countries, and 64 reactors under construction. A majority of the new reactors are being planned for APAC and EMEA. As of 2014, 39 reactors are under construction in APAC. As many as 322 nuclear reactors have been proposed for construction in the future.

Government initiatives across countries are helping in the development of these nuclear power reactors. There is a lot of emphasis on the development of advanced nuclear reactors. Advanced technology-aided reactors, such as Generation III nuclear reactors, are becoming popular across the globe owing to rise in safety concerns, particularly after the Fukushima nuclear disaster in Japan. Countries, such as China and Finland, are investing heavily in advanced technology.

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For instance, in October 2014, the US Nuclear Regulatory Commission certified GE Hitachi's Economic Simplified Boiling Water Reactor (ESBWR) design. ESBWR is a Generation III boiling water reactor equipped with advanced passive safety system. Moreover, the government across different countries are also planning to decommission nuclear reactors of 39-44 years old, to contain safety hazards associated with the reactors.

The global nuclear reactor construction market was valued at $34.13 billion in 2014, in terms of total investment, as compared to $32.64 billion in 2013.

Market analysts forecast the global nuclear reactor construction market to grow at a CAGR of 5.22% during 2014-2019.

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