LONDON--(BUSINESS WIRE)--Technavio, a tech-focused research firm, has published a new report on the global nuclear reactor construction market, which is expected to grow at a CAGR of over 5% from 2015-2019.
The new Technavio report exhibits the demand for electricity, which has increased because of the rise in populations and increase in industrialization, triggering investment in nuclear power plant construction. According to the WNA, total nuclear electricity generation worldwide was 2,411 billion KWh in 2014, and as of June 2015, there were 64 nuclear reactors under construction with an installed capacity of 66,297 gross MW.
“For instance, in India, due to the increase in electricity demand, the government plans to double its nuclear power generation capacity to over 10,000 MW over the next five years,” says Faisal Ghaus, Vice President of Technavio.
The report also emphasizes the government organizations across countries such as India, the US, and the UK, among others, which are increasingly focusing on investment in R&D in nuclear power.
“In 2014, the government of the UK established the nuclear innovation and research advisory board to advise the government on research and innovation to reinvigorate the nuclear sector in the country,” adds Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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