Nuclear power plants differ from fossil power plants mainly
in the source of heat for converting water into steam, which is subsequently
used to run the turbine and produce electricity. In addition, the source of
heat is nuclear fission (or fusion, in future fusion reactors), while in the
latter, it is the combustion of the fossil fuels such as coal, oil, or gas.
Therefore, the structural materials chosen for nuclear reactors should also
meet the requirements of fossil power plants in terms of good creep resistance,
oxidation resistance, low-cycle fatigue strength, and thermal conductivity.
Moreover, the elements present in the structural materials should also have a
low neutron absorption cross-section, that is the probability of neutrons
produced in the reactor being absorbed by these elements should be low.
Furthermore, the properties of these materials should not degrade under the
high levels of radiation that exist in nuclear reactors. Such degradation is
generally referred to as radiation damage and includes irradiation
embrittlement, irradiation creep, and swelling, helium embrittlement. In
addition, nuclear power provides almost 15 %of the world’s electricity and
according to the U.S. Energy Information and administration, as of December 31,
2020, 94 nuclear reactors were operating at 56 nuclear power plants in 28
states. 32 of the plants have 2 reactors, and 3 plants have three reactors.
Nuclear power plants have supplied about 20% of total annual U.S. electricity
since 1990.
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The rise in demand for low-cost energy, reliable, zero
carbon emissions, and high energy density energy across the world led to an
increase in the demand for nuclear energy. In addition, the increase in demand
for electricity was caused in part by the increase in population, and economic
development also led to increasing in the demand for nuclear power plants and
equipment.
The growth in demand for low-carbon-emission energy and
long-life power plants led to an increase in demand for nuclear power plants,
and the fast expansion of nuclear power plants created a number of
opportunities for nuclear power plant equipment.
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The nuclear power plant and equipment market is segmented on
the basis of reactor type, equipment type, and region. On the basis of reactor
type, the market is categorized into pressurized water reactor (PWR),
pressurized heavy water reactor (PHWR), boiling water reactor (BWR), light
water graphite reactor (LWGR), gas-cooled reactor (GCR), others. On the basis
of equipment type, it is segmented into island equipment and auxiliary
equipment. On the basis of region, it is analyzed across North America, Europe,
Asia-Pacific, and LAMEA.
The global nuclear power plant and equipment market analysis
covers in-depth information about the major industry participants. The key
players operating and profiled in the report include BWX Technologies, INC,
Dongfang Electric Co., Ltd., Doosan Corporation, General Electric, Korea
Electric Power Corporation, Larsen & Toubro Limited, Mitsubishi Heavy
Industries, LTD., Shanghai ALSTOM SA, The State Atomic Energy Corporation
(ROSATOM), Toshiba International Corporation.
The global nuclear power plant and equipment market is
analyzed and estimated in accordance with the impacts of the drivers,
restraints, and opportunities. The period studied in this report is 2021–2030.
The report includes a study of the market with respect to the growth prospects
and restraints based on the regional analysis. The study includes Porter’s Five
Forces analysis of the industry to determine the impact of suppliers,
competitors, new entrants, substitutes, and buyers on the market growth.
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Key findings of the study
- On the
basis of reactor type, the pressurized water reactor (PWR) segment emerged
as the global leader in 2020 and is anticipated to be the largest market
during the forecast period.
- On the
basis of equipment type, the auxiliary equipment segment emerged as the
global leader in 2020 and is anticipated to be the largest market during
the forecast period.
- On the
basis of region, the Asia-Pacific registered the highest market share and
is projected to maintain the same during the forecast period
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