Recent Developments and Applications Propel Global Nuclear Turbine Generator Market Growth

Global nuclear turbine generator market is anticipated to grow at a CAGR of 3.5% during the forecast period (2024-2031). Nuclear turbine generators are utilized in diverse applications such as nuclear power plants, propulsion systems for submarines and aircraft carriers, space exploration, remote power generation, research facilities, hybrid energy systems, and backup power systems. It provides stable electricity through steam from nuclear reactors, offers long-range capabilities in propulsion, and ensures reliable power in isolated areas and industrial settings.

Browse the full report description of “Nuclear Turbine Generator Market Size, Share & Trends Analysis Report by Type (Thermal Reactors, Fast Neutron Reactors, and Nuclear Fusion Reactors), and by Technology (Pressurized Water Reactors, Liquid Metal Fast Breeder Reactor, Pebble Bed Reactors, Molten Salt Reactors, Gas Cooled Reactor, and Others) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/nuclear-turbine-generator-market

Recent Market Developments

• In January 2024, Capital Power Corporation and Ontario Power Generation agreed to jointly assess the development and deployment of grid-scale Small Modular Reactors (SMRs) for clean, reliable nuclear energy in Alberta. The agreement examined the feasibility of developing SMRs in Alberta, including ownership and operating structures. The agreement advances the provinces' Strategic Plan for SMR deployment, putting them at the forefront of nuclear innovation and clean energy.

• In January 2024, Mitsubishi Heavy Industries, Ltd. (MHI) completed the manufacturing of three replacement steam generators for Électricité de France S.A.'s Nuclear Power Plant in France. The generators, made of low-alloy steel and weighing 330 tons, are 21 meters high and contain over 4,500 heat transfer tubes. EDF selected MHI and Onet Technologies for the order, requiring high machining accuracy and safety for the essential component of a pressurized water reactor.

• In May 2024, Biden launched a nuclear power project management and delivery working group to accelerate domestic nuclear deployment and advise on a federal initiative to build new grid-scale nuclear reactors. The group draws on experts from the nuclear and megaproject construction industry to identify opportunities and mitigate expense and schedule overrun risk.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Type

o By Technology

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape - Bharat Heavy Electricals Limited (BHEL), General Electric Co., Hitachi, Ltd., Mitsubishi Heavy Industries, Ltd., Siemens Energy among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Nuclear Turbine Generator Market Report Segment

By Type

• Thermal Reactors
• Fast Neutron Reactors
• Nuclear Fusion Reactors

By Technology

• Pressurized Water Reactors
• Liquid Metal Fast Breeder Reactor
• Pebble Bed Reactors
• Molten Salt Reactors
• Gas Cooled Reactor
• Others (Supercritical Water Reactors (SCWRs), and Very-High-Temperature Reactors (VHTRs))

Global Nuclear Turbine Generator Market Report Segment by Region

North America

• United States

• Canada 

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/nuclear-turbine-generator-market