Power Uprates Market In-Depth Analysis and Forecast 2017-2025 | Lightbridge, Areva, AZZ Corporation, Enercon
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.
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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.
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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.
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