About Generator for Nuclear Power
Steam generators are an important component of nuclear power plants. They are responsible for generating steam by boiling the coolant (usually water and heavy water), which then rotates the turbine to generate electricity. The global generator market for nuclear power is segmented based on the type of reactor and key geographies. Boiling water reactors (BWRs) are not considered in the scope of the report since they do not use steam generators.
Technavio’s analysts forecast the global generator market for nuclear power to grow at a CAGR of 2.41% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global generator market for nuclear power for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Generator Market for Nuclear Power 2017-2021
Technavio recognizes the following companies as the key players in the global generator market for nuclear power: AREVA, The State Atomic Energy Corporation ROSATOM, Toshiba, Mitsubishi Heavy Industries, and Doosan.
Other Prominent Vendors in the market are: Westinghouse Electric Company, General Electric, Babcock & Wilcox Enterprises, LARSEN & TOUBRO, Sandvik, Bharat Heavy Electricals Limited (BHEL), Rolls-Royce Power Systems, and BWX Technologies.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is fast neutron nuclear reactors. With deployment targets spanning for 2020-2030, an international task force has been assigned to develop six nuclear reactor technologies. Out of these six, four are expected to be fast neutron reactors. These new technology reactors are anticipated to operate at higher temperatures when compared with the ones currently in operation.”
According to the report, one driver in the market is rapid nuclear expansion in China to drive global nuclear growth. The rising population and the economic growth of the world are expected to lead to the increased demand for energy. The global primary energy consumption in 2015 recorded an increase in single digits in 2015, which was 0.9% less than the 10-year average. Emerging economies accounted for a substantial share of the global growth in demand. China, despite its decreased consumption, recorded the world’s largest increment in primary energy consumption. As per the World Bank estimates, the global GDP is expected to continue to increase and almost double by 2035, with China and India contributing a major share to the growth.
Further, the report states that one challenge in the market is construction delays and cost overruns. A nuclear reactor construction project typically has various unique features. These include, but are not limited to, stringent security, strict safety measures, and a set of variable project portfolios. These features and factors are directly proportional to the overall cost schedule of the project. Improper estimations and planning may incur price escalations during the project construction phase. Price escalations have a direct impact on the profitability of vendors and project contractors as they are responsible for the smooth operation of nuclear reactors.
AREVA, The State Atomic Energy Corporation ROSATOM, Toshiba, Mitsubishi Heavy Industries, Doosan, Westinghouse Electric Company, General Electric, Babcock & Wilcox Enterprises, LARSEN & TOUBRO, Sandvik, Bharat Heavy Electricals Limited (BHEL), Rolls-Royce Power Systems, and BWX Technologies.