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Global nuclear condensate pumps market is expected to grow at a CAGR of +5% by 2024

Industrial Market Research

The global nuclear condensate pump market to expand at a CAGR of +5% during the forecast period 2016-2024

According to Goldstein Research, currently, 440 operational nuclear reactors are expected to generate significant demand for condensate pumps in the aftermarket as many of these nuclear reactors will require replacement as many of them complete 30 years of operational life in coming years. Further, new planned and under construction projects will also create a huge demand for nuclear condensate pumps. 

Global nuclear condensate pumps market Make an Inquiry about this news outlook also includes product development, technological advancements and investment strategies adopted by major market players in order to expand their business across the globe. However, the high cost of nuclear power projects as compared to other renewable power generation technologies such solar and wind energy has created a huge challenge for the market players.