Albany, NY -- (ReleaseWire) -- 07/02/2014 -- Growing demand of nuclear power on account of indispensable affordable, low-carbon and secure source for indigenous energy is increasing the demand for nuclear turbine generator. Nuclear turbine generators play a vital role in the nuclear power industry. They are used to convert pressurized steam from the steam turbine to generate electricity. The heat energy from a nuclear fission is passed to working fluids which then run a turbine. The nuclear chain reactions are controlled and sustained in a nuclear reactor.
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The overall market for the nuclear turbine generator has been fragmented on the basis of product description, application as well as on the basis of geography to provide an overall picture of the market. On the basis of product description, the market for nuclear turbine generator has been segmented as, low pressure turbine and high pressure turbine. The market on the basis of application can be segmented as light water graphite reactors (LWGR), gas cooled reactors (GCR), boiling water reactors (BWR), fast breeder reactors (FBR), pressurized water reactor (PWR), and pressurized heavy water reactors (PHWR).
The market for the nuclear turbine generator is expected to increase significantly on account of underlying factors. Depleting fossil fuel reserves, increasing need for a low carbon future, and significant increase in the share of nuclear power in total electricity generated are expected to drive the market for nuclear turbine generator in near future. However, technical challenges (water induction, water droplet erosion and steam corrosion cracking) faced during the operation of nuclear power plant can hamper the growth in nuclear turbine generator market. Additionally, significant technological development in nuclear reactor technology and pursuit for energy security are expected to propel the demand for nuclear turbine generator in near future.
Europe is expected to account for maximum demand of nuclear turbine generator as the nuclear is the largest energy source of power generation in the region followed by coal and gas. Though, the aftermath of Japan's Fukushima nuclear disaster has led to shutdown of nuclear reactors in the region. The European Union can ensure the safe and sustainable use of nuclear power across Europe, through the Euratom Treaty, which will help Europe to meet non-proliferation, security and high standards of safety. Additionally, the existing reactors (France, Belgium, United Kingdom, and Sweden) and the planned reactors (Bulgaria, Czech Republic, Finland, France, Lithuania, The Netherlands, and Poland) are expected to augment the growth in nuclear turbine generator market.
Asia Pacific is expected to play a key role in the growth of nuclear turbine generator market on account of bolstering demand for electricity and the use of nuclear as a source of power generation. China, India and South Korea are expected to contribute the most to the growth of nuclear turbine generator market in this region. In Japan, growing demand for fossil fuel substitutes, increasing economic burden on the economy without nuclear power and a government decision to re-adopt nuclear power as a source of power generation is expected to significantly increase the demand for nuclear turbine generator in the country. A technological development in the nuclear reactor is expected to augment the global demand for nuclear turbine generator market.
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