A
rising demand for energy coupled with an increasing drive for
switching over to cleaner methods of power generation is likely to
bolster the market for nuclear power plant equipments in the future.
With the onset of the nuclear renaissance, there is likely to be
significant new capacity addition of nuclear power generation
capacity globally. There are nearly 20 countries in the world
utilizing nuclear power, with about 10 countries aggressively
pursuing nuclear generation as an integral part of their generation
mix. After the Fukishima disaster in Japan, the global nuclear power
plant equipments market is likely to face uncertainty in terms of
demand from certain nations. On one hand, the disaster in Japan
might trigger negative sentiments regarding use of nuclear energy
leading to slowdown in adoption and commissioning of plants.
However
on the other hand, the event might also trigger decommissioning of
old plants and subsequent installation of new nuclear power plants
with better technologies and multiple redundant safety backups. In
the event of new capacity being added to replace older plants, there
is likely to be a higher demand for nuclear power plant equipments.
Overall, nuclear power plants are fully capable of providing very
high load and availability factors giving steady base load
generation. With very low emissions and generating costs at par with
coal fired plants, nuclear energy is likely to be adopted with much
gusto in the future. One of the major equipments for nuclear power
plants is the reactors. There are various types of reactors currently
in operation with the two most common ones being boiling water
reactors (BWR) and pressurized water reactors (PWR).
Apart
from these, other forms of reactors such as CANDU reactors are also
being deployed. One of the most important parts of a nuclear power
plant is the fuel assemblies. Nuclear fuel comprises of fuel rods
which are arranged together in the form of fuel assemblies, and
contains fissile elements capable of sustaining a nuclear fission
reaction. Some of the nuclear fuels being used today around the world
include Uranium-235 and Plutonium -239. Very large fuel assemblies
are required to power large nuclear reactors. A pressurized water
reactor (PWR) might require 13 feet high individual fuel assemblies
with nearly 264 fuel rods present within.
Other
equipments required include the internal piping mechanisms and
enclosures. Owing to the radiation risk, nuclear reactors need to be
adequately shielded using lead, steel and concrete. Turbines are also
a vital part of any nuclear power plant. Since nuclear power plants
generally require economies of scale to generate power at economical
and cost competitive rates, large turbines are likely to be in demand
in the future. Other vital components of a nuclear power plant
include heat exchanger systems, which are mostly installed in a
closed loop form. Owing to the radiation risk, there are generally
three kinds of heat transfer fluids circulating inside the plant,
which generally require advanced heat exchanging systems. Other
important equipments include the control rod assembly which is
essential to control the rate of nuclear fission. Without the control
rods there is a risk of an uncontrolled chain reaction ultimately
resulting in an explosion. Overall the nuclear power plant equipments
market is likely to be the most attractive in the Asia-Pacific and
Europe.
Some
of the major players in the nuclear power plant equipments market
include Dongfang Electric Corporation Ltd, Larsen & Toubro Ltd,
Alstom SA and Mitsubishi Heavy Industries Ltd among others.
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