Nuclear Valves Market in India and Türkiye: Projections for 2024-2031
The global nuclear valves market, valued at $5.51 billion in 2021, is projected to grow to $18 billion by 2031, reflecting a compound annual growth rate (CAGR) of 12.6%.
In India, the nuclear grade valve market had a share of $172.26 million in 2024 and is expected to grow at a remarkable CAGR of 17.1% by 2031.
India is undertaking dynamic nuclear power projects to meet its growing energy demands, with a rapid increase projected for the nuclear valve market. Currently, India operates 24 reactors generating 8.18 GWe, with a target of reaching 100 GWe by 2047. A significant portion of this increase will stem from the installation of small modular reactors (SMRs), with plans to deploy 40 to 50 units.
Türkiye also presents significant opportunities for valve manufacturers, with its nuclear grade valves market valued at $10.73 million in 2024 and projected to achieve an extraordinary CAGR of 111.8% by 2031.
Similarly, Türkiye is diversifying its energy mix, with multiple nuclear power plants under construction and in the planning stages, contributing to rising demand for advanced valve solutions. Türkiye currently has 4.8 GW of nuclear capacity under construction at the Akkuyu plant, with additional capacities planned: 4.8 GW for Sinop and 5.6 GW for the Thrace region. Furthermore, Türkiye aims to deploy 5 GW of SMRs after 2035, further enhancing its nuclear ambitions.
The construction of new nuclear power plants, alongside the modernization of existing infrastructure, is a major driver of demand in both countries. With substantial investments in nuclear energy, India and Türkiye are committed to securing a stable, clean energy future, making the nuclear valve market poised for substantial expansion.
The 5th edition of India Nuclear Business Platform (INBP) will take place in Mumbai this 19-20 November 2024. The industry meeting will feature all the officials and players across the Indian nuclear supply chain. For more information on this meeting including exhibition opportunities, click here
