Demand for electricity has been increasing exponentially across the globe since the last few decades.. According to the International Energy Outlook 2016, the net electricity generation stood at 21.6 trillion kWh across the globe in 2012 and is projected to reach 25.8 trillion kWh in 2020. It is further projected to reach 36.5 trillion kWh in 2040 due to the changes in power systems (from small and isolated to integrated national and international systems). Coal continues to be a widely used fuel for power generation; however, the nuclear power generation and renewable sources are cleaner forms of electricity generation and hence have anticipated the growth of global electricity generation.
- Advertising -
Increase in environmental concerns about the emission of greenhouse gases is driving the demand for renewable energy sources such as hydropower, wind, solar power, tides, and geothermal heat for electricity generation. Nuclear power generation is considered the cleaner source of electricity after renewable sources.
According to the International Energy Outlook 2016, the world electricity generation from nuclear power stood at 2.3 trillion kWh in 2012 and is estimated to reach 4.5 trillion kWh in 2040. Nuclear reactors provide a reliable, cost-effective, and low emission source of electricity generation.
- Advertising -
These nuclear reactors are economical alternatives to the large nuclear reactors. Furthermore, they are increasingly used at remote locations.
Economies of scale are significantly achieved by the manufacturers for continuous production and short construction period for micro-nuclear reactors. These factors are primarily driving the market for micro-nuclear reactors across the world.
Rise in private investments and increase in government funded research and development projects are also anticipated to boost the global micro-nuclear reactors market.
Browse Market Research Report at: www.transparencymarketresearch.com/micro-nuclear-reactors-market.html
Design, construction, and operation regulations are same as that for the large nuclear reactors which involves additional costs for compliance and restrain the growth of the market, especially in North America and Europe. Several companies are investing significantly in research and development of micro-nuclear reactors that comply with the regional and international licensing regulations.
Nuclear power generation plants are sometimes built in the close vicinity of public settlements. This makes the public apprehensive about the ill-effects of nuclear waste, thereby hampering the market growth.
In terms of geography, the micro-nuclear reactors market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Rise in industrialization and rapid growth in economies in Asia Pacific are projected to drive the demand for micro-nuclear reactors.
Increase in need to lower greenhouse gas emissions, shortage of coal supply, and less electricity distribution in remote regions are estimated to augment the market in Asia Pacific. North America and Europe account for large share of the global micro-nuclear reactors market, led by the presence of key chemical companies in these regions and increase in private investments and government funded nuclear projects.
Prominent companies operating in the micro-nuclear reactors market are Westinghouse Electric Company LLC, Toshiba Corporation, Hitachi-GE Nuclear Energy, Ltd., and NuScale Power, LLC.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size.
The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels.
With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Category: Market Research Publishers and RetailersCompany profile: TMR provides a range of marketing and business research solutions designed for your specific needs. From off-the-shelf syndicated business And market research to made-to-order custom research, we serve our clients to fulfill their immediate as well as ongoing research requirements. We specialize in the following areas: Syndicated Research Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemical, energy, food & beverage ...
For more information: