Lewes, DE -- (ReleaseWire) -- 07/22/2014 -- Asia-Pacific is the most prominent emerging nuclear region in the world, with 13.8 Gigawatts (GW) of planned and proposed nuclear power until 2030. Vietnam has the highest planned and proposed levels of nuclear power, with 6.8 GW to be built by 2030. More than 20 nuclear reactors are expected to be built in the region. Increasing power demand and rising fossil fuel prices have triggered the growth of nuclear power, despite the Fukushima disaster. Many countries in the region are focusing on increasing the nuclear share of their energy mix. Concern over oil reserve shortages, rising carbon emissions, growing power demand and the volatility of fossil fuel prices have led to the sudden growth of demand for nuclear power.
The Middle East and Africa region has the second highest planned and proposed nuclear installed capacity, with 12.6 GW, followed by Europe with 11.8 GW.
Vodo-Vodyanoi Energetichesky Reaktor and Advanced Power Reactor 1400 to Dominate Emerging Nuclear Market to 2030.
Among the emerging nuclear nations planning to construct nuclear reactors by 2030, the Vodo-Vodyanoi Energetichesky Reaktor (VVER) and Advanced Power Reactor 1400 (APR-1400) have proved the most popular technologies. VVERs are designed and developed by OKB Gidropress, a subsidiary of the State Atomic Energy Corporation, Rosatom, while the APR-1400 design was developed by Korea Hydro & Nuclear Power and a number of other Korean companies. Of the reactors coming online by 2030, VVERs currently account for around 34.8%, while APR-1400s constitute 21.7%. A further 6% is accounted for by Atmea, followed by Advanced Boiling Water Reactor (ABWR) technology with 3.5%.
Around 34%, a significant portion of the upcoming nuclear reactor market, is yet to decide upon the reactor model to be installed, which represents an opportunity for international reactor vendors.
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Technological Developments Aiding Nuclear Power Growth in Emerging Nuclear Countries -
Advanced technologies have become crucial in emerging nuclear power countries. Following the Fukushima accident, more countries are stressing the importance of safe nuclear reactor technology. Advanced technologies such as Generation IV reactors, European Pressurized Reactor (EPR), and small modular reactors are boosting nuclear power development in emerging nuclear countries. The Gen IV technologies offer high efficiency levels of around 40-50%, which help to reduce the consumption of nuclear fuel compared with the current generation of nuclear reactors. The EPR reactor design, with its key advantages, has enabled the mitigation of situations resulting in a nuclear disaster, such as core meltdown, hydrogen accumulation, resulting in an explosion, and radiation release from the containment building, which causes serious environmental concerns. Small and medium reactors, with a power output of less than 700 Megawatts (MW), can be considered as potential reactor technology for the emerging nuclear power market. Small and medium reactors have the unique features of enhanced safety, cost competitiveness, a relatively short construction period, and simpler operation procedures. These features make these reactors ideal for emerging nuclear power countries, which are smaller in size and where the growth of power demand is relatively low.
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