Albany, New York (PRWEB) July 22, 2014
Nuclear reactors are used to produce electricity across the world. The heat produced by controlled fission chain reaction in nuclear reactors is used to create steam pressure. This steam pressure is used to drive a power- generating turbine. Currently nuclear reactors are used to produce approximately 19% of the world’s total electricity production. Nuclear reactor market is expected to grow in future due to several under construction, planned and proposed nuclear reactor projects.
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Nuclear energy market can be segmented on the base of technology into Boiling Water Reactor (BWR), Pressurized Water Reactor (PWR), Pressurized Water Reactor (PHWR), Advanced Gas Cooled Reactor (AGCR), Uranium Reactor (CANDU) and Fast Breeder Reactor (FBR). PWR is expected to dominate the market.
Improved technology, increasing energy demand, no carbon emission and concerns about the use of thermal energy sources are the drivers of this market. Developed countries are largely dependent on nuclear energy for their power generation. However the impact of nuclear disaster on the surroundings, people and environment discourages the use of nuclear energy. Depleting reserves and high cost of unconventional gas creates an opportunity for nuclear energy. Some of the key players in nuclear energy market include PSEG Power LLC, Duke Energy, Exelon Corporation, NextEra Energy Resources LLC, Bruce Power, China General Nuclear Power Corporation, EDF Energy, Tokyo Electric Power Company, GE Hitachi Nuclear Energy and Eskom Holdings SOC Limited along with others.<
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