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U.S. Nuclear Plant Services Market to Grow with a CAGR of 3.65% Throughout 2021-2028; Market to Grow on Account of Growing Demand for Electricity from End-Users in the Nation

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Research Nester published a report titled U.S. Nuclear Plant Services Market: Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the U.S. nuclear plant services market in terms of market segmentation by plant type, and by services.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The U.S. nuclear plant services market is anticipated to grow with a CAGR of 3.65% during the forecast period, i.e., 2021-2028. The market is segmented by plant type into pressured water plant, boiling water plant, pressurized heavy water plant, gas-cooled plant, and others, out of which, the pressured water plant segment registered the largest market share in the year 2019 on account of the numerous advantages associated with these types of plants when compared to its other available alternatives. Pressured water plants can be easily controlled and hence are much safer. The segment is further projected to attain a value of USD 13577.06 Million by the end of 2021.

The U.S. nuclear plant services market is thriving on account of the rapid surge in the demand for electricity as well as for the availability of numerous non-functioning nuclear plants, which requires repairing and maintenance for operation. The nation recorded close to 60 nuclear power plants in its twenty-nine states in 2019 and also registered around 96 commercially operational nuclear reactors. Also, around 40 reactors were recorded to be non-functional and hence required maintenance. Further, by 2040, around 90 nuclear facilities would be decommissioned and would raise the need for maintenance of these facilities for making it fully operational. On the other hand, about 19% of the electricity generated in the United States was from nuclear power in the year 2019. The U.S. nuclear plant services market is further anticipated to touch USD 26,630.5 Million by 2028 from USD 19,776.4 Million in the year 2019.

Increasing Availability of Non-Functional Nuclear Plants and the Need for Repair and Maintenance of These Plants

The U.S. is considered to be one of the world’s largest producers of nuclear power and is also known to be one of the major hotspots for nuclear decommissioning. The nuclear reactors are designed to function for a certain time frame. As the nation had these reactors since time long, many of the reactors are to be repaired for functioning back. Such a factor is anticipated to raise the demand for nuclear plant services, and in turn drive the market growth throughout the forecast period.

However, the increasing stringent government regulations for setting up nuclear plants, as well the concern for the high cost of setting up a new nuclear plant are some of the factors expected to operate as key restraint to the growth of U.S. nuclear plant services market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the U.S. nuclear plant services market which includes company profiling of GE Hitachi Nuclear Energy (GEH), AECOM (NYSE: ACM), Bechtel Corporation, BHI Energy, Westinghouse Electric Company LLC, EnergySolutions, Mitsubishi Nuclear Energy Systems, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the U.S. nuclear plant services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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