London, 03 September 2015 – 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.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
