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Exclusive extracts from this 127-page-long report:
- What is the business?
The nuclear power industry comprises three core businesses: fuel cycle activities (uranium mining, fuel fabrication, reprocessing and recycling, waste disposal etc.), reactor design and construction activities, and nuclear plant operation (power generation). Most nuclear power companies focus on one or few of these activities, as a high degree of vertical integration rarely generates significant synergies or competitive benefits. […]
- What are the main markets?
Europe still accounts for the largest share of worldwide nuclear energy consumption as new capacity investments and expansion projects in Eastern Europe (including Russia) offset multiple shutdowns and project cancellations in Western European countries. Meanwhile, Asia's share in nuclear energy consumption declined as a result of Japan's total nuclear shutdown following the Fukushima disaster, but will recover amid ambitious capacity expansion programs in China and India as well as Japan's decision to gradually restart its nuclear reactor fleet. [...]
- Who are the key players?
Leading players of the global nuclear power industry can be classified into three categories: energy utilities which mostly focus on reactor design and plant operation; diversified power equipment groups which provide designs, equipment and solutions for several power systems; and nuclear power pure players which focus on one or several activities of the nuclear power value chain. [...]
- How intense is competition?
Competition has intensified in recent years in the context of rising nuclear power project costs and increased market liberalisation. State-backed emerging market players have been particularly successful in taking a growing share in new plant projects, both at home and abroad, thanks to their greater cost-competitiveness and better project financing solutions. Despite intense competition, industry partnerships are nevertheless increasingly common as nuclear power groups are seeking synergies on specific projects or markets. [...]