Technavio has announced the top five leading vendors in their recentglobal nuclear fuels marketreport. This research report also lists 19 other prominent vendors that are expected to impact the market during the forecast period.
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Technavio has published a new report on the global nuclear fuels market from 2017-2021. (Graphic: Business Wire)
There is a growing need for emission-free power generation capacities around the globe due to the increasing awareness about reducing the use of fossil fuels, especially in thermal power plants. It was noted that a quarter of the existing fossil fuel plants worldwide are in operation for more than 30 years.
Competitive vendor landscape
Due to the lack of government support and the reducing gas prices, which is attracting investments toward gas power plants, the global nuclear fuel market is witnessing a decline in its growth. The market is diversified by the presence of international and regional vendors. In developed and developing economies, regional vendors are more prominent, thus increasing the competition for market share with the international players.
"A growing number of regional vendors are focusing on R&D activities in the new market areas such as nuclear fission and new generation nuclear reactors. This research is expected to result in more reliable and efficient next-generation nuclear power plants," says Thanikachalam Chandrasekaran, a lead power research analyst from Technavio.
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Top five nuclear fuels market vendors
ARMZ Uranium Holding Company
ARMZ Uranium Holding Company is involved in the development of uranium mining at various stages of its lifecycle, ranging from exploration to industrial production. The company is also involved in the development of brown coal production, thermal and electrical power generation, sulfuric acid production, building mining equipment, rendering drilling, exploration support, design, and engineering services.
Cameco is one of the largest uranium producers in the world. Its activities include the operations and investments spanning the whole nuclear fuel cycle, from exploration to fuel manufacturing. The other segments of the company comprise the fuel services division, which is the main source of profits and supports the company's uranium segment, thus allowing them to integrate across the fuel cycle vertically.
Energy Resources of Australia
Energy Resources of Australia is involved in the supply of uranium. Apart from uranium supply, the company also has a stockpile of ore reserves. Energy Resources of Australia is involved in uranium mining.
Japan Oil, Gas and Metals National Corporation
Japan Oil, Gas and Metals National Corporation is involved in the supply of funds for the exploration of oil and gas, coal, geothermal energy, and metallic minerals. It is also involved in operations in the development of hydrocarbons, coal resources, geothermal resources, and metallic mineral resources.
KazAtomProm is involved in geological exploration, natural uranium mining, production of uranium products, production of quartz, metallurgical silicon, PV cells and plates, renewable energy sources, design of heating pump units, bulk concentrate of rare-earth metals, beryllium, tantalum, niobium products, generation of electrical and heating power, and production of distillate drinking water.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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