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Plant life Extensions (PLEX) and Plant Life Management (PLIM) for Nuclear Reactors Market to Witness Steady Expansion During 2017-2027

02-13-2018 01:36 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Plant life Extensions (PLEX) and Plant Life Management (PLIM)

The Plant Life Management (PLIM) is a process by which Nuclear Power Plants (NPP) integrate their Engineering, Environmental, Economic planning, Operation and Maintenance activities to optimize the plant operating life, manage the material condition of a plant, maintaining plant safety and maximize the plant value. The Plant Life Extension (PLEX) and Plant Life Management (PLIM) are the activities to extend the operation of a NPP. The influences leading to ageing process in a Nuclear Power Plant are Abrasive and Erosive processes, Irradiation, Thermal and Mechanical Loads.

The objective of a Plant Life Management (PLIM) is to effectively integrate economic planning and ageing management programmes to maintain a high level of safety, optimize the operation and maintenance of Structures and Components (SSCs), maximize return on investment over the service life of the Nuclear Power plant, maintain an acceptable level of performance, provide NPP utilities with the optimum pre-conditions for PLIM.

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Presently North America and Europe are the largest market for Nuclear PLEX. The demand in these regions is primarily driven by the increasing global demand for power. The major elements, which affect the cost of PLEX, are referred as Cost drivers. PLEX Cost drivers include the incremental capital investment, and O&M Cost required in extending the operational life beyond the design life.

An array of risks for an investor in development of a NPP and the capital cost of building a new NPP are the factors that are discouraging investment in new nuclear projects. The capital cost of PLIM is lower compared to investment in replacement capacity. The above factor motivates plant operators to extend the operational life of their NPP. However, a negative public opinion and safety concerns for Nuclear Power Plants may hamper the growth of this market.

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Some of the key players in the PLIM market include: Atomic Energy of Canada Ltd, Alstom SA, Areva SA, Doosan Heavy Industries and Construction, Japan Atomic Power Company, GE Hitachi, GE Energy, Kansai Electric Power Company, Mitsubishi Heavy Industries Ltd, and Shikoku Electric Power Company among others.

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