In the past few years many new energy sources have been discovered and are being used, apart from fossil fuels, such as solar, wind, and geothermal. One such source of energy is nuclear power. Nuclear technology utilizes the energy emitted by splitting atoms of specific metals. This technology was first developed in the 1940’s for creating bombs; however, in the 1950’s the world diverted its attention to the peaceful uses of this technology. Many countries have even built nuclear reactors for scientific research purposes to serve as a source of neutron beams. These nuclear reactors are powered by nuclear fuels containing fissile material. The nuclear fission process releases great amount of energy. Therefore, the fissioning material needs to be in a robust physical shape in order to endure extreme neutron radiation and operate at high temperatures.

Nuclear fuel fabrication is the last stage in the process of converting uranium into usable nuclear fuel rods. Fabrication of nuclear fuel for a reactor consist of three main stages. Firstly, production of pure uranium oxide, either from uranium hexafluoride or uranium trioxide, is carried out at the fuel manufacturing plant. Secondly, producing high density and highly accurately shaped ceramic uranium oxide pellets. And lastly, production of the rigid metal framework mostly from zirconium alloy for fuel assembly, and loading of the uranium oxide pellets into the fuel rods and also sealing and assembling these rods into the fuel assembly structure.

Based on conversion process, the nuclear fuel fabrication market can be segmented into wet and dry process. In the dry process, uranium hexafluoride is heated into a vapor state and is divided into a two stage reaction vessels for the production of uranium oxide. The wet process consists of injecting uranium hexafluoride into water to produce a particulate slurry. Then ammonia or ammonium carbonate is added to the slurry. The slurry is then filtered, dehydrate, and heated to produce pure uranium oxide in a reducing atmosphere for further processing.

Based on type of nuclear reactor, the nuclear fuel fabrication market can be divided into pressurized water reactors (PWRs), boiling water reactors (BWRs), pressurized heavy water reactors (PHWRs), and others. Pressurized water reactors are extensively used nuclear reactors in the world. They account to nearly two-third of the currently installed nuclear power generation capacity. Boiling water reactors are the second most commonly used nuclear reactors around the globe. They account for almost one-fourth of the currently installed nuclear power generation capacity globally. Pressurized heavy water reactors are based on a Canadian design that utilizes pressure tubes containing heavy water that moderates and cools the nuclear fuel. The others segment consist of advanced gas-cooled reactors, RBMK (Reaktor Bolshoy Moshchnosti Kanalnyy) reactors, and fast neutron reactors.

In terms of region, the nuclear fuel fabrication market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe is projected to hold a substantial share of the global nuclear fuel fabrication market during the forecast period. North America is likely to follow Europe, in terms of market share, during the forecast period. The market in Asia Pacific is expected to expand at a significant growth rate in the near future, due to the increasing demand for energy in the region, especially in developing countries such as India and China.

Key players operating in the nuclear fuel fabrication market include AREVA NP, Westinghouse Electric Company LLC, Global Nuclear Fuel, JSC Atomenergoprom, JSC TVEL, Mitsubishi Nuclear Fuel Co., Ltd., and ENUSA INDUSTRIAS AVANZADAS, S.A.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Nuclear Fuel Fabrication Market

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