Nuclear fuel assembly market to exceed $32bn by 2025

New research from GlobalData indicates that the global market value for nuclear fuel assembly will increase from approximately $22.2bn in 2014 to just under $32.1bn by 2025, representing a Compound Annual Growth Rate (CAGR) of 2.5 per cent.
Global Data

The analysis by te research and consulting firm states that rising power demand, the need to cut greenhouse gas emissions and soaring fossil fuel prices will be the major drivers of market growth throughout the forecast period.

Chiradeep Chatterjee, GlobalData’s Senior Analyst covering Power, says the ever-growing worldwide demand for electricity will require the optimal utilization of existing nuclear reactors and the deployment of new plants by 2025, which will increase the need for nuclear fuel.

Chatterjee explains: “Some developing countries, such as China and India, have witnessed significant increases in power demand and formulated extensive nuclear development plans to meet this.

“Nations are considering nuclear as a viable option for power generation, as it can produce a large amount of energy from relatively little fuel and generate electricity with minimal direct environmental impact.”

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