China to Soon Surpass the Leaders in the Global Nuclear Power Market

Published Date : Jul 28, 2015

China in terms of various electricity sectors is demonstrating high growth. This can be observed in the renewable energy sector and the non-renewable energy sector as well. China recently pledged to cut down its carbon emissions drastically, as a result of which the solar power sector in the country has received a massive boost.

Another energy sector that is receiving a huge boost is the nuclear power sector. Currently, China is generating only 2 per cent of its total electricity via nuclear power. However, several new nuclear reactors were added to the country’s capacity, which was recorded faster compared to any other nation. As China moves up the ladder in the nuclear power segment, and since 2012 the traditional leaders in this sector have remained stagnant or backed away from their reliance on nuclear due to Fukushima, China on the other hand has installed 11 new reactors that have over 11 gigawatts of nuclear generating power.

It is expected that by the end of 2015, the country will surpass the leaders such as Russia and South Korea and will emerge as the fourth largest nuclear power generating country globally. China is set to leave behind France, United States, and Japan. Furthermore, by 2020 the country is expected to replace the third place of Japan.

This rising trend shows no sign of slowing down as China has currently huge ambitions to add more new reactors. These include advanced reactor designs that will be installed in the coming few decades. Presently, China is planning to boost their nuclear capacity from 23 gigawatts to around 58 gigawatts by end of 2020. In 2020, it is also aiming to add around 30 gigawatts of capacity under construction, as stated by the World Nuclear Association. Currently, a total of 64 nuclear reactors are being built around the globe, and 24 of these are based in China, while 15 are based in Russia.