Nuclear Deaerator Market – Drivers and Forecasts by Technavio

October 12, 2017

LONDON–(BUSINESS WIRE)–#EngineeringTools—Technavio
analysts forecast the global nuclear deaerator market to register a
revenue of almost USD 11 million by 2021.


The research study covers the present scenario and growth prospects of
the global nuclear
deaerator market for 2017-2021. Technavio presents a
detailed picture of the market by way of study, synthesis, and summation
of data from multiple sources.

The nuclear power industry has been recently challenged by several
factors such as cost overruns, delays in project implementation, and
opposition from various sections of society. The delays in construction
projects due to the lack of funding or political issues pose a major
burden for contractors. The orders for NPP components are usually placed
long before plant construction actually starts, and any delay can result
in cost extensions due to longer inventory holding period, additional
labor costs, or legal problems.

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Technavio analysts highlight the following three factors that are
contributing to the growth of the global nuclear
deaerator market:

  • Growing energy demand in developing countries
  • Need for energy security and diversification of energy mix
  • Adoption of clean energy sources

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Growing energy demand in developing countries

There has been rapid economic growth in the developing economies in the
last two decades due to globalization and industrialization, which has
led to the successive increase in household incomes and consumption.
Energy consumption worldwide has also been steadily increasing, driven
by rapid economic growth and industrialization in the developing
nations. To meet this ever-growing energy demand, nuclear power is
expected to become an indispensable source for new power generation.

Anju Ajaykumar, a lead engineering
tools research analyst at Technavio, says, “The developing
countries in APAC, MEA, and South America account for a major share of
global population, where millions of people lack access to electricity.
To overcome this challenge, several governments have initiated plans to
provide universal electricity access within the next decade; as part of
these plans, the countries will set up nuclear power plants.”

Need for energy security and diversification of energy mix

The task of providing a continuous supply of cheap and accessible energy
is a major challenge for many nations since the distribution of natural
resources is not proportionate. Only some countries have abundant fossil
fuels. This disparity of resources has forced several countries to
become highly dependent on imported fuels to run their economies.

“Nuclear energy offers an important source of energy generation for
such countries to reduce their dependence on fossil fuels and reduce the
strain on the economy. Nuclear power is increasingly being used in
several countries to meet their energy requirements. Nuclear energy is
considered much more stable than other sources as nuclear fuel prices
represent a fraction of the operational cost, and the plant can operate
for several years continuously without refueling,” adds Anju.

Adoption of clean energy sources

There is a growing stress on many countries to cut down their carbon
emissions to reduce the adverse environmental impact and health risks,
including air and land pollution and global warming. The concerns over
reducing emissions from power generation is a major reason, which is
contributing to the growth of the nuclear power industry globally.

Generation of power through nuclear fuels results in a significant
reduction in emissions of CO2, SO2, NOx and other greenhouse gases
(GHGs) when compared with fossil fuels. The lifecycle emissions of a
nuclear plant are much lower than those of a coal-fired or oil-fired
power plant, and nearly equivalent to the lifecycle emissions of
renewable energy sources such as wind, solar, and geothermal power
generation.

Top vendors:

  • Doosan Heavy Industries & Construction
  • Power Machines
  • Sterling Deaerator
  • STORK

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