SOURCE: SBI

SBI

April 22, 2009 12:07 ET

U.S. Paces Global Recommitment to Nuclear Energy Technologies

NEW YORK, NY--(Marketwire - April 22, 2009) - Many world leaders now recognize that advancing nuclear technology is a catalyst for curbing dependence on carbon-based energy sources, and the United States is leading the charge among North American nations accelerating efforts to reduce their carbon footprints. Several nations are shifting their energy sources to counter increasing costs of fuels such as oil and gas, to compensate for aging equipment used to manufacture electricity, and to further facilitate the widespread desire to adopt more environmentally friendly sources that reduce carbon emissions.

The U.S. is the global leader in nuclear energy technology manufacturing with a total market value that exceeded $45 billion in 2002, according to "Nuclear Energy Technologies Worldwide: Components and Manufacturing," a new report from SBI, a leading industrial market research publisher. SBI estimates that the U.S. market will reach just under $51 billion by year-end 2009 and achieve more than $61 billion by 2013.

Past incidents involving reactor malfunctions have made some wary of nuclear power's impact on the environment. However, advancements in plant design, equipment requirements, and emergency preparedness improved the sustainability of nuclear power and have allowed it to piggyback on the green movement advancing the renewable energy market.

"Projected high prices for oil and natural gas, and rising concern about the environmental effects of fossil fuels, improve the prospects for renewable energy sources, such as solar and wind. But nuclear power is also benefiting from the green movement. It emits practically no air pollution or greenhouse gases," says Shelley Carr, associate publisher of SBI.

Among members of the Organization for Economic Cooperation and Development (OECD), the United Kingdom and U.S. have displayed a growing interest in the potential role of nuclear power in meeting their energy challenges during the next three decades. The increased interest in nuclear power stems from an inherent need for nations to find environmentally sustainable ways to provide their citizens with affordable energy, particularly in light of the numerous vulnerable economies that are highly sensitive to price volatility and disruptions in traditional fossil fuel supplies from the Middle East. SBI projects that nuclear energy expansion in non-OECD countries will primarily occur in Russia, China, and India.

"Nuclear Energy Technologies Worldwide: Components and Manufacturing" examines components of the global nuclear energy technology industry, including the market value of nuclear energy technology manufacturing, consumption of nuclear energy relative to other sources, and consumer attitudes toward nuclear energy safety and use. Information provided covers shipments, imports, exports, and key economic and market trends driving the industry. The report also analyzes countries geared for rapid expansion of their nuclear generating programs and looks at the long-term growth potential for manufacturers of large-scale reactors that leverage next-generation reactor technologies. For further information visit: http://www.sbireports.com/pub/1926673.html

About SBI

SBI (Specialists in Business Information) publishes research reports in the industrial, energy, building/construction, automotive/transportation and packaging markets. SBI also offers a full range of custom research services. For more information visit http://www.sbireports.com, or contact Don Montuori at (240) 747-3028 or dmontuori@marketresearch.com.

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