South Korean Nuclear Companies Target to Obtain 20% of Global Nuclear Construction Market Share by 2030
- Edited by April Murelio -
South Korean nuclear industry players foresee a potential market in the global nuclear power plant construction. The growing demand for energy driven by developing countries such as India and China will provide the potential for the expansion of nuclear power. South Korean nuclear companies have already set a target of obtaining a market share of 20% in the global nuclear power plant construction market by 2030.
In addition to exporting nuclear reactors, the companies also plans to enter the $78bn market globally for the operation, maintenance and repair of reactors.
The underlying reason is that these companies perceive that there is a growing demand for overhauls and life extensions for heavy water reactors across the globe. The new target markets for construction of nuclear power plants for South Korean companies are Europe, Asia Pacific countries such as India and China, nuclear emerging countries such as United Arab Emirates (UAE), Indonesia, Vietnam, Malaysia, Thailand and Middle East countries.
This analysis was taken from a research paper published by GlobalData, to download the full Research Paper for free, click below:
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