Market Overview:
The global nuclear powered merchant vessels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for nuclear-powered cargo and passenger carriers across the globe. In addition, the stringent environmental regulations pertaining to emissions from traditional diesel-powered ships are also fueling the demand for nuclear-powered merchant vessels. The global nuclear powered merchant vessels market is segmented on the basis of type, application, and region. On the basis of type, it is divided into less than 250 MTs and no less than 250 MTs segments. The no less than 250 MTs segment is expected to account for a larger share of the global market in terms of revenue owing to its ability to carry heavier loads as compared with smaller vessels. By application, it is classified into cargo carrier and passenger carrier segments.
Product Definition:
A nuclear-powered merchant vessel is a merchant ship powered by a nuclear power plant. The first nuclear-powered merchant vessel was the NS Savannah, which sailed in 1962. The use of nuclear power for maritime propulsion dates back to the 1950s, when the United States Navy began experimenting with installing reactors on warships. The technology was not ready for commercial application until the 1960s, when civil servants at United States Atomic Energy Commission (US AEC) and Department of Transportation decided to apply it to passenger ships.
The importance of nuclear-powered merchant vessels is twofold: they are more efficient than traditional marine diesel engines, and they do not produce greenhouse gases that contribute to climate change. Nuclear reactors do not emit particulate matter, nitrogen oxides (NOx), sulfur dioxide (SO2), or other pollutants that conventional marine engines produce.
Less than 250 MTs:
It is the weight of a cargo that can be carried by a ship without exceeding the registered tonnage. The term is used for shipping containers with less than 20-foot (6.08 m) lids, also known as lesser-known load (LUL) or little known load (LRL). These are generally used to transport goods in international trade and between two ports.
No Less than 250 MTs:
The no less than 250 MTs is a type of ore that can be processed by any vanilla non-modded server with the exception of some special features which are only available on modded servers. The vanilla server does not have to be multiplayer; it can also be a single player game.
Application Insights:
Passenger carrier segment dominated the global nuclear powered merchant vessels market in terms of revenue share in 2017. The growth can be attributed to the increasing number of cruise liners that offer luxury services at affordable prices. Nuclear powered ships are ideal for extended trips as they have a very low operational cost and consume negligible fuel on account of their ability to operate on alternative power sources such as wind and solar energy.
Cargo carrier application is expected to grow significantly over the forecast period owing to rising demand from various industries including oil & gas, chemicals, food processing, mining and others for reliable transport services at competitive rates across long-distance routes with high transit times. The cargo carriers provide efficient transportation solutions by reducing operating costs through economies of scale resulting in lower overall capital costs per unit transported compared with conventional diesel-powered vessels. The passenger carriers use highly automated systems which require minimal crew members thus reducing operating costs further contributing toward lucrative growth prospects over the forecast period ahead of us.
Regional Analysis:
The Asia Pacific dominated the global market in terms of revenue with a share of over 60% in 2017. The region is expected to continue its dominance over the forecast period. This can be attributed to rising trade activities across the globe, particularly between China and North America, which has led to an increase in demand for nuclear-powered merchant vessels from both regions. Moreover, increasing military expenditure by countries such as India and Pakistan are likely to boost demand for these ships over the coming years.
Europe was estimated at USD X million owing to growing trade activities between Europe and Asia Pacific countries such as China, Japan, South Korea etc., which have led to an increase in demand for nuclear-powered merchant vessels from all these nations across the globe.
North America accounted for a significant share of global revenue due high number of shipbuilding facilities present along U.S.
Growth Factors:
- Increasing demand for energy due to population growth and industrialization in developing countries
- Stringent environmental regulations for maritime transportation sector
- Proliferation of nuclear powered merchant vessels across the globe
- Technological advancements in nuclear propulsion systems
- Growing awareness about the benefits of using nuclear powered merchant vessels among shipping companies
Scope Of The Report
Report Attributes
Report Details
Report Title
Nuclear Powered Merchant Vessels Market Research Report
By Type
Less than 250 MTs, No Less than 250 MTs
By Application
Cargo Carrier, Passenger Carrier
By Companies
Adams Atomic Engines, Babcock & Wilcox, Howaldtswerke Deutsche Werft AG, Yokosuka Naval Arsenal, United Shipbuilding Corporation (USC), Austal
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Nuclear Powered Merchant Vessels Market Report Segments:
The global Nuclear Powered Merchant Vessels market is segmented on the basis of:
Types
Less than 250 MTs, No Less than 250 MTs
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Cargo Carrier, Passenger Carrier
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Adams Atomic Engines
- Babcock & Wilcox
- Howaldtswerke Deutsche Werft AG
- Yokosuka Naval Arsenal
- United Shipbuilding Corporation (USC)
- Austal
Highlights of The Nuclear Powered Merchant Vessels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Less than 250 MTs
- No Less than 250 MTs
- By Application:
- Cargo Carrier
- Passenger Carrier
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Nuclear Powered Merchant Vessels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Nuclear powered merchant vessels are ships that use nuclear power to generate electricity. This electricity is then used to run the ship’s engines.
Some of the major companies in the nuclear powered merchant vessels market are Adams Atomic Engines, Babcock & Wilcox, Howaldtswerke Deutsche Werft AG, Yokosuka Naval Arsenal, United Shipbuilding Corporation (USC), Austal.
The nuclear powered merchant vessels market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Nuclear Powered Merchant Vessels Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Nuclear Powered Merchant Vessels Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Nuclear Powered Merchant Vessels Market - Supply Chain
4.5. Global Nuclear Powered Merchant Vessels Market Forecast
4.5.1. Nuclear Powered Merchant Vessels Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Nuclear Powered Merchant Vessels Market Size (000 Units) and Y-o-Y Growth
4.5.3. Nuclear Powered Merchant Vessels Market Absolute $ Opportunity
5. Global Nuclear Powered Merchant Vessels Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Type
5.3.1. Less than 250 MTs
5.3.2. No Less than 250 MTs
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Nuclear Powered Merchant Vessels Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Application
6.3.1. Cargo Carrier
6.3.2. Passenger Carrier
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Nuclear Powered Merchant Vessels Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Nuclear Powered Merchant Vessels Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Nuclear Powered Merchant Vessels Demand Share Forecast, 2019-2026
9. North America Nuclear Powered Merchant Vessels Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Application
9.4.1. Cargo Carrier
9.4.2. Passenger Carrier
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Type
9.7.1. Less than 250 MTs
9.7.2. No Less than 250 MTs
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Nuclear Powered Merchant Vessels Demand Share Forecast, 2019-2026
10. Latin America Nuclear Powered Merchant Vessels Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Application
10.4.1. Cargo Carrier
10.4.2. Passenger Carrier
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Type
10.7.1. Less than 250 MTs
10.7.2. No Less than 250 MTs
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Nuclear Powered Merchant Vessels Demand Share Forecast, 2019-2026
11. Europe Nuclear Powered Merchant Vessels Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Application
11.4.1. Cargo Carrier
11.4.2. Passenger Carrier
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Type
11.7.1. Less than 250 MTs
11.7.2. No Less than 250 MTs
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Nuclear Powered Merchant Vessels Demand Share, 2019-2026
12. Asia Pacific Nuclear Powered Merchant Vessels Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Application
12.4.1. Cargo Carrier
12.4.2. Passenger Carrier
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Type
12.7.1. Less than 250 MTs
12.7.2. No Less than 250 MTs
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Nuclear Powered Merchant Vessels Demand Share, 2019-2026
13. Middle East & Africa Nuclear Powered Merchant Vessels Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Application
13.4.1. Cargo Carrier
13.4.2. Passenger Carrier
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Nuclear Powered Merchant Vessels Market Size and Volume Forecast by Type
13.7.1. Less than 250 MTs
13.7.2. No Less than 250 MTs
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Nuclear Powered Merchant Vessels Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Nuclear Powered Merchant Vessels Market: Market Share Analysis
14.2. Nuclear Powered Merchant Vessels Distributors and Customers
14.3. Nuclear Powered Merchant Vessels Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Adams Atomic Engines
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Babcock & Wilcox
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Howaldtswerke Deutsche Werft AG
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Yokosuka Naval Arsenal
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. United Shipbuilding Corporation (USC)
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Austal
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook