Region : Global | Format: PDF | Report ID: BRI101095 | SKU ID: 19887989
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The global nuclear valves market size was USD 7.87 billion in 2024 and market is projected to touch USD 20.34 billion by 2032, exhibiting a CAGR of 12.60% during the forecast period.
Nuclear valves are valves which are used in the Nuclear Island (NI), Convention Island (CI), and Balance of Plant (BOP). They are divided into class I, II, and III according to the requirement in sequence. It is extensively used to control equipment transporting flow media.
Increasing demand for the product in nuclear energy is estimated to surge market growth. Growing demand for clean energy source is anticipated to accelerate market growth. Growing government initiatives and regulations are projected to drive market growth. Rising awareness to support national security is predicted to propel market expansion. Growing awareness about commercial nuclear power is anticipated to surge market growth. Rapid development of new power plants globally is predicted to expand market growth in the coming years. Increasing demand for job requirement is anticipated to fuel market progress. Growing demand to convert nuclear energy into thermal energy is predicted to surge market development.
COVID-19 pandemic created a supply chain disruption in the market. Lockdown restrictions impacted equipment demand among consumers. Shutdown of nuclear plants globally hampered market growth. Lack of energy production during the pandemic declined market expansion. Closure of the power generation sector minimized market growth.
"Growing Demand for Nuclear Islands to Incite Market Growth "
Increasing demand for nuclear islands (NI) is anticipated to surge market growth. The nuclear valves help to decelerating mechanism in immersed water on the nuclear island. Such advantages of the product are anticipated to surge market growth. The need for welded hydraulic double gate to parallel with nominal pressure is projected to drive market growth. The equipment is ideal for fast reactor nuclear power plants is anticipated to expand market growth. Further, it has high power graphite-moderated boiling point, which is projected to drive product demand. The equipment is applied in a light water coolant primary circuit to nominal pressure. Such benefits associated with the equipment are predicted to boost product adoption in nuclear islands. Growing government regulation in developing nuclear power plants is projected to boost nuclear valves market progress.
Based on type, the market is divided into gate valve, globe valve, butterfly valve, ball valve, check valve, diaphragm valve, and other.
Gate valve is expected to be the leading part of the segmentation type.
Based on the application, the market is divided into nuclear island (NI), convention island (CI), and balance of plant (BOP).
Nuclear island (NI) is expected to be the leading part of application segmentation.
"Increasing Demand for Conventional Island to Foster Market Progress"
Increasing need for conventional island globally is predicted to fuel market growth. Growing need to convert thermal energy into electrical energy is estimated to expand market growth. The conventional island helps to extract thermal energy from pressurized steam and helps to convert it into electrical energy. Such advantages of the equipment drive market development. Due to climate change, growing demand for power and energy is anticipated to accelerate market growth. Increasing need to develop better renewable sources is estimated to fuel market growth in the coming years. Rapid urbanization and industrialization are projected to drive nuclear valves market growth.
"Growth in Balance of Plant (BOP) to Stimulate Market Growth "
Increasing demand for a balance of plant is anticipated to surge market growth. The plant is extensively used to comprised both mechanical and electrical devices. Such advantages are estimated to boost equipment adoption. Further, extensive use of valves in a plethora of applications is expected to accelerate market development. The equipment is used in a complex process in the oil & gas industry, which is predicted to surge market growth in the coming years. The growing need to maintain integrity of the production activities. Such benefits associated with equipment are anticipated to surge market progress. Increasing need to perform critical performance in nuclear plants is projected to drive market growth. Growing government regulation to control pollution is predicted to surge market growth. Increasing need to maintain national security is estimated to surge market growth. Rapid development of new power plants globally is predicted to expand market growth in the coming years. Increasing demand for job requirements is anticipated to fuel nuclear valves market progress.
"High Operation Cost to Reduce Market Growth "
High operation cost associated with the equipment is expected to hamper market growth. High maintenance cost and fluctuation of raw materials is anticipated to restrict market progress during the forecast period.
"Presence of Power Generation Plants in North America to Drive Market Share "
North America is projected to hold major nuclear valves market share due to presence of the power generation plants. Increasing demand for the product in nuclear energy is estimated to surge market growth. Growing demand for clean energy sources is anticipated to accelerate market growth. Growing government initiatives and regulations are projected to drive market growth. Rising awareness to support national security is predicted to propel market expansion. Growing awareness about commercial nuclear power is anticipated to surge market growth. Rapid development of new power plants globally is predicted to expand nuclear valves market growth in the coming years.
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Based on our research, the global nuclear valves market is projected to touch USD 20.34 billion by 2032.
The nuclear valves market is expected to exhibit a CAGR of 12.6% by 2032.
Increasing Demand for Conventional Island and Growth in Balance of Plant (BOP) are the driving factors of the nuclear valves market
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