Nuclear battery or atomic battery is a new power generating device, which utilizes energy from the decay of radioactive isotopes like plutonium-238, curium-242, and others to generate electrical power. Nuclear battery has extremely long life but is available at a high cost. It can be used in spacecraft, scientific stations and in the remote areas of the world. This device uses thin radioactive material (films) that generates energy at a very large density with respect to fuel cell batteries. Advantage of nuclear battery is its small size, long life, no radioactive waste production, and others.
MARKET SCOPE
The "Global Nuclear battery Market Analysis to 2028" is a specialized and in-depth study of the Nuclear battery market with a special focus on the global market trend analysis. The report aims to provide an overview of nuclear battery market with detailed market segmentation by type, application, and geography. The global nuclear battery market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading nuclear battery market players and offers key trends and opportunities in the nuclear battery market.
MARKET SEGMENTATION
- The global nuclear battery market is segmented on the basis of type, and application.
- On the basis of type, Depending on product, the market is divided into junction type battery, and self-reciprocating cantilever.
- On the basis of application the market is segmented into automotive, residential, commercial, industrial, and others.
MARKET DYNAMICS
Drivers:
- Greenhouse effect reduction with the use of nuclear battery, due to its no radioactive waste production, and high energy production are expected to be the key driving factors for the growth of the global nuclear battery market.
- High initial cost of production.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The nuclear battery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the nuclear battery market in these regions.
IMPACT OF COVID-19 ON NUCLEAR BATTERY MARKET
Due to the COVID-19 pandemic, a temporary ban on import and export, as well as manufacturing and processing activities across multiple industries, was enforced, reducing demand for nuclear battery from these users. As a result, market growth in the second, third, and fourth quarters of 2020 has slowed. The nuclear battery industry, on the other hand, is predicted to recover by the second quarter of 2021, since COVID-19 immunisation has begun in a number of economies throughout the world, which is expected to boost the global economy.
MARKET PLAYERS
The report covers key developments in the nuclear battery market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from nuclear batterymarket market are anticipated to lucrative growth opportunities in the future with the rising demand for nuclear battery market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Nuclear battery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Exide Technologies
- Tesla Energy
- GEV Attenfall AB
- American Elements
- Curtiss-Wright Corporation
- Comsoll Inc.
- Thermo PV.
- HBL power system
- Luminous power
- Marlow.