Global Nuclear Power Plant Equipment Market will grow at a CAGR of 10.0% in the next few years

Date: 2016-10-10

A nuclear power plant is a thermal power station in which the heat source is a nuclear reactor. As is typical in all conventional thermal power stations the heat is used to generate steam which drives a steam turbine connected to an electric generator which produces electricity. As of 23 April 2014, the IAEA report there are 435 nuclear power reactors in operation operating in 31 countries. Nuclear power stations are usually considered to be base load stations, since fuel is a small part of the cost of production. Their operations and maintenance (O&M) and fuel costs are, along with hydropower stations, at the low end of the spectrum and make them suitable as base-load power suppliers. The cost of spent fuel management, however, is somewhat uncertain.
Electricity was generated by a nuclear reactor for the first time ever on September 3, 1948 at the X-10 Graphite Reactor in Oak Ridge, Tennessee in the United States, and was the first nuclear power station to power a light bulb. The second, larger experiment occurred on December 20, 1951 at the EBR-I experimental station near Arco, Idaho in the United States. On June 27, 1954, the world’s first nuclear power station to generate electricity for a power grid started operations at the Soviet city of Obninsk. The world’s first full scale power station, Calder Hall in England opened on October 17, 1956.

According authoritative institutions forecast, the global the installed capacity of nuclear power plants which have installed is expected to reach 875-2160 billion W by 2025, growing at a CAGR of 10.0% in the next few years. Because global energy is very shortage, in order to respond to energy saving, environmental protection, emission reduction, world vigorously accelerate to develop nuclear energy, China will vigorously develop clean power supply, among them, nuclear power is the main direction of future restructuring, the scale of investment will greatly exceed conventional power plants. According to China’s latest National Nuclear Power Development Plan, China will increase its nuclear power installation capacity from the current capacity of less than 10,000 megawatt hours (mwh) to 70,000-80,000 mwh by 2020, representing an astounding 22% annual growth rate. The Chinese government will pump $110 billion into new nuclear power plant (NPP) projects around China by 2020, of which $50 billion will be for equipment procurement. This will create a market of approximately $15 billion for foreign suppliers after taking into consideration that China mandates a minimum of 70% of equipment be sourced locally. Nearly one half (47 percent) of the total nuclear generating capacity set to come online in China by 2020 will likely be concentrated in the four southern provinces of Guangdong, Fujian, Guangxi and Hainan. This is due to a number of factors including access to abundant coastal water resources, proximity to megacities and energy consumption hubs, the scarcity of indigenous coal resources, and stable seismic conditions.

The key players in the market are Shanghai Electric (China), Mitsubishi Heavy Industries (Japan), Larsen and Toubro Industries (India), Babcock and Wilcox (USA), Dongfang Electric (China), Hitachi-GE Nuclear Energy (Japan), Alstom SA (France), Areva SA (France) etc..

Global Nuclear Power Plant Equipment Market Share Analysis, by Region, 2020


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Joanna | Executive – International Business and partner Relations
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