Global nuclear energy demand to rise by 4%

Global nuclear energy demand has grown in recent years, exceeding 2,400TWh in 2014. It is estimated to increase by more than 4% from 2015 to 2022, according to new research. […]

Register now!

By Priyanka Shrestha

Global nuclear energy demand has grown in recent years, exceeding 2,400TWh in 2014.

It is estimated to increase by more than 4% from 2015 to 2022, according to new research.

It states rapid population growth, along with improved lifestyle, have resulted in strong demand for energy from households, both in developed and developing nations.

The report from Grand View Research adds rising demand for a variety of products have driven industrial developments, which result in increasing energy requirements from the manufacturing sector.

As of 2014, nuclear power provides more than 11% of the world’s electricity and more than 21% of the power in OPEC countries.

The report suggests rising demand for low carbon power as well as depleting fossil fuel reserves are raising concerns, which are encouraging energy companies and governments to invest in nuclear projects.

It expects the European market to witness “above average growth” due to regulations aimed at cutting emissions by 34% during the forecast period.

This week the UK’s nuclear regulator granted its first consent for construction to start at EDF’s Hinkley Point C nuclear power plant.