Nuclear Power Plant Control System Market to Reach $986 Million by 2032 amid Soaring Energy Demand and Urbanization
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The global nuclear power plant control system market is valued at USD 624.20 million in 2023 and is expected to reach USD 986.14 million by 2032, growing at a 5.5% CAGR.
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The market growth is driven by increasing electricity demands, escalating energy needs, climate change concerns, and rapid urbanization.
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The hardware segment accounted for the largest revenue share in 2023 based on components. Cooling system control dominated among applications.
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Asia Pacific held the greatest market share in 2023 due to countries in the region increasingly moving toward energy sovereignty through nuclear power.
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Key players in the global market include Siemens, ABB, General Electric, Fortum, Framatome, Emerson Electric Co., Mitsubishi Electric Corporation, NuScal Power LLC, and others.