COVID-19 IMPACT SURVEY MAY 2020
Amid the COVID-19 crisis and the looming economic recession, the Nuclear Power market worldwide will grow by a projected 527.1 Terawatt-hours (TWh), during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.6%. Nuclear Power, one of the segments analyzed and sized in this study, is forecast to grow at over 2.6% and reach a market size of 3.2 Thousand Terawatt-hours (TWh) by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Nuclear Power market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 3.2% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over 32.3 Terawatt-hours (TWh) to the region's size over the next 7 to 8 years. In addition, over 21.8 Terawatt-hours (TWh) worth of projected demand in the region will come from Rest of European markets. In Japan, the Nuclear Power segment will reach a market size of 219.1 Terawatt-hours (TWh) by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Nuclear Power market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 2.7% over the next couple of years and add approximately 90.9 Terawatt-hours (TWh) in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Nuclear Power market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Atomstroyexport; Axpo Group; Bruce Power L.P.; China General Nuclear Power Group; China National Nuclear Corporation; Dongfang Electric Corporation Limited; Doosan Babcock Limited; E.ON SE; EDF (Electricité de France) SA; ENGIE Electrabel; Exelon Corporation; GE Hitachi Nuclear Energy; Korea Hydro & Nuclear Power Co., Ltd.; Mitsubishi Heavy Industries Ltd.; NNEGC Energoatom; Nuclear Power Corporation of India Limited; Ontario Power Generation; Orano; ROSATOM; Shanghai Electric Group Company Limited; Tokyo Electric Power Company Holdings; Toshiba Corporation; Vattenfall AB