Key vendors to focus on R&D to gain market shares.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global nuclear fuels market in their latest research report. This report also lists 19 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for nuclear fuels is highly competitive in nature. Vendors in the market space compete based on factors such as on price, quality, and market presence. The market is currently experiencing a decline in its growth owing to the lack of government support and the reducing gas prices. The market is diversified with the presence of international and regional vendors. In developed and developing economies, regional vendors are more prominent, thus increasing the competition for market share with the international players.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for research on power, “A substantial number of regional vendors are focusing on R&D activities in new market areas such as nuclear fission and new generation nuclear reactors. The increased focus on R&D activities is expected to result in more reliable and efficient next-generation nuclear power plants.”
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Top five vendors in the nuclear fuels market space
ARMZ Uranium Holding Company
ARMZ Uranium Holding Company is involved in the development of uranium mining at various stages of its lifecycle, ranging from exploration to industrial production. The company is also involved in the development of brown coal production, thermal and electrical power generation, sulfuric acid production, building mining equipment, rendering drilling, exploration support, design, and engineering services.
Key products: Uranium.
Cameco
Cameco is one of the largest uranium producers in the world. Its activities include the operations and investments spanning the whole nuclear fuel cycle, from exploration to fuel manufacturing. The other segments of the company comprise the fuel services division, which is the main source of profits and supports the company’s uranium segment, thus allowing them to vertically integrate across the fuel cycle.
Key products: Uranium.
Energy Resources of Australia
Energy Resources of Australia is involved in the supply of uranium. Apart from uranium supply, the company also has a stockpile of ore reserves.
Key products: Uranium.
Japan Oil, Gas and Metals National Corporation
Japan Oil, Gas and Metals National Corporation is involved in the supply of funds for the exploration of oil and gas, coal, geothermal energy, and metallic minerals. It is also involved in operations for the development of hydrocarbons, coal resources, geothermal resources, and metallic mineral resources.
Key products: Uranium.
KazAtomProm
KazAtomProm engages in the geological exploration, natural uranium mining, production of uranium products, production of quartz, metallurgical silicon, PV cells and plates, renewable energy sources, design of heating pump units, bulk concentrate of rare-earth metals, beryllium, tantalum, niobium products, generation of electrical and heating power, and production of distillate drinking water.
Key products: Uranium.
A more detailed analysis is available in the Technavio report, Global Nuclear Fuels Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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