Nuclear Power in BRIC Countries - Market Report 2015-2019

Market outlook of the nuclear power market

Nuclear energy is a reliable power source that can produce uninterrupted, clean energy on a large scale. It is also cheaper compared to fossil fuels as a power source. The increasing power demand in BRIC nations is the key driver for the growth of nuclear power market in these countries. Technavio’s market research analyst expects the nuclear power market grow at a CAGR of 13% during the forecast period. In Russia and China, ships and submarines use nuclear energy as a source of electricity, as they need to be at sea for long durations.

The development of nuclear power market in BRIC countries faces strong public opposition due to the safety concerns associated with the nuclear power plants. Post the 2011 Fukushima disaster in Japan, many countries slowed down their nuclear power development plan. Also, disposal of nuclear waste is another challenge for the growth of this market.

Segmentation by technology and analysis of the nuclear power market

• Pressurized water reactor (PWR)
• Light water graphite reactor (LWGR)
• Pressurized heavy water reactor (PHWR)
• Fast breeder reactor (FBR)
• Boiling water reactor (BWR)