Power Uprates Market - Global Industry Analysis, Size, Share, Trends, Growth, and Forecast 2017 - 2025

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Power Uprates Market - Global Industry Analysis, Size, Share, Trends, Growth, and Forecast 2017 - 2025

Status : August, 2020 | Energy & Mining | PPT format

Report Digest


Global Power Uprates Market: Snapshot

Growing role of nuclear power in meet the electricity needs of the world is a key factor that calls for increasing the licensed power level of a commercial nuclear power plant. Power uprates are done keeping in mind the conditions of safety, design, and operational requirements. Nuclear regulatory commissions have been do deterministic safety analysis based on cutting-edge computation tools to shape their decisions on power uprates. In numerous developing regions, there has been high public awareness about operating a nuclear power plant, which is shaping their decisions for more informed power uprates. The power uprates market has also evolved on the back of changes that are made with respect to fuel type, components used, and most importantly, the entire design of nuclear power plants. Substantial advancements are far and few but may be required to fit well with balance-of-plant (BOP) equipment. Having said that, power uprates that do not need major modification are highly preferred in nuclear industry. Recent methods of achieving power uprates have focused on reducing the depletion of MVAR, a key measurement of mega volt amps.

Rising worldwide demands for electricity has imparted a large impetus to the use of nuclear power plants as a renewable source, thus helping in the evolution of the power uprates market. Power uprates have considerably added tens of megawatts of capacity to meet the energy needs of end users, notably home users. Massive projects being undertaken for power uprates commercial nuclear plants in developed nations are opening new avenues in the power uprates market. A case in point is growing numbers of extended power uprate projects in the U.S.

With escalating population across the world and rapid urbanization in several emerging economies, the demand for power it at an all-time peak. In this scenario, it becomes essential to increase the efficiency of each nuclear power plant. Power uprate is the technique with which not only the maximum heat output can be achieved, it does to in accordance to the plant safety.

There are three basic types of power uprates market: measurement uncertainty recapture power uprates, stretch power uprates, and extended power uprates. Though measurement uncertainty recapture power uprates helps in incrementing the licensed power level by less than 2%, which is a result of implementing improved techniques in order to calculate reactor power. This uprate process includes the use of sophisticated devices which are accurate in measuring the feedwater flow used to calculate reactor power. In addition to that, more precise measurements via uncertainty recapture power uprates decrease the degree of uncertainty in the power level, which in turn helps the analysts to predict the ability of the reactor to be safely shut down under possible accident conditions.

Uprates of about 2 to 7 percent can be achieved with stretch power uprates, although the actual increase depends on the design of the plant. Though stretch power uprates commonly include changes to instrumentation settings, no major plant modifications is involved, which limits the cost factors. Finally, as much as 20 percent power uprate can be expected via extended power uprates, though significant modifications are required to achieve extended power uprate, which includes replacing the pieces of non-nuclear equipment such as condensate pumps and motors, high-pressure turbines, transformers, and main generators.

Global Power Uprates Market: Synopsis 

Power uprate (PU) is considered as a well-regulated and cost-effective technique of improving the net power output of nuclear power plants. The demand for power uprates has risen on the back of the attainable capacity of nuclear power plants and increasing need for electricity on a global platform. Ahead of the terms of their original license, such operating units require license modification in order to ensure a higher level of utility operation. Furthermore, with a view to examine the safety impact of power uprates, the plant modifications demand a safety analysis. In this regard, power uprates have emerged as a fine provider of solutions to battle all such issues. 

Without no increase in the measure of fissile materials during the production process, power uprates help to raise the thermal output from nuclear reactors. This has significantly helped regions through the addition of generation capacity to address their power demand within their economic levels and expenditure of raw materials. Power uprates are, therefore, recommended as a great substitute to expand and upgrade nuclear power plants. They have also developed as a favorable means of generating income while allowing the production of more electricity, keeping in view the operational, design, and safety confines of the nuclear power plants. 

The global power uprates market is indubitably profitable with a great potential for growth that is expected to persist even in the future. 

Global Power Uprates Market: Insight into Advancements and Innovations 

Beside their efficacy, power uprates have proved themselves as a crucial element to magnify the international nuclear market with their noteworthy benefits. The present and prospective potential of the nuclear power plant market, enhanced by the advancement of power uprates, is regarded as one of the main drivers for the global power uprates market. 

The only restraint foreseen in the global power uprates market is the requirement of supplementary investment for the opportune analysis of nuclear power plants. Moreover, such plants which require a modification need to be facilitated with a safety analysis, incorporating radiological, structural, and thermo hydraulic facets. Nonetheless, the impact of this restraint is anticipated to be vanquished by the improvement in capacity level, which also promotes the possibility of enhanced earnings. 

In the U.S., nuclear reactors have been upgraded with a 20.0% increase in their electricity generation capability, as per the information procured by the Nuclear Regulatory Commission. This much needed improvement in the U.S. nuclear reactors was achieved through greater fuel enrichment, enhanced maintenance and operational procedures, augmented reliability, and higher capacity features. Opportunities such as these are predicted to secure a safe and lucrative future for the global power uprates market. 

Global Power Uprates Market: Key Segments and Players 

On geographical terms, the global power uprates market can be categorized into North America, Europe, Asia Pacific, and Rest of the World. If the lion’s market share is considered, nations such as China, the U.S., and Japan have topped the list. On the basis of type of product, the power uprates market can include segments such as measurement uncertainty recapture (MUR), extended power uprate (EPU), and stretch power uprate (EPU). 

Top players such as Lightbridge, Areva, AZZ Corporation, Enercon, and Exelon are foretold to have a telling influence of the global power uprates market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.