China nuclear power plant equipment market report 2020: pressurized water reactors will dominate the market – ResearchAndMarkets.com


DUBLIN – (COMMERCIAL THREAD) – The report “China Nuclear Power Plant Equipment Market – Growth, Trends and Forecast (2020-2025)” has been added to ResearchAndMarkets.com offer.

The Chinese nuclear power plant equipment market is expected to grow at a CAGR of over 5% during the forecast period 2020-2025.

The significant contribution of nuclear energy to reducing GHG emissions, while meeting the growing energy needs of a growing population and supporting sustainable development is driving the market. Upcoming projects in China are expected to create significant demand for various nuclear power plant equipment. On the other hand, the availability and intense competition of alternative clear energy sources are expected to restrain the growth of the market during the forecast period.

With a significant share of pressurized water reactors, they are expected to dominate the reactor segment during the forecast period.

The World Nuclear Association has set a target of 25% of the world’s electricity by 2050, which is expected to be supplied by nuclear power. This requires around 1000 GW of new nuclear capacity to build, creating many opportunities for market players.

Island equipment holds the largest share of investments in nuclear power plant equipment. With the upcoming projects, the island equipment is expected to dominate the market during the forecast period.

Key market trends

Pressurized water reactors to dominate the market

A typical design of a commercial PWR is such that the core inside the reactor vessel creates heat. The reactor pressure vessel (RPV) core contains nuclear fuel, a moderator, control rods, and coolant that is cooled and moderated by high pressure liquid water. The PWR consists of a reactor vessel, steam generators, reactor cooling pumps, control roads, a pressurizer and other components.

  • A long-term service contract has been signed between Framatome and Taishan Nuclear Power Joint Venture Company Limited (TNPJVC). The contract was to support the operations of two EPRs at the Taishan nuclear power plant in China.

  • As of May 2020, there were 44 PWRs under construction. China is the dominant country with nine PWRs under construction, with a nuclear capacity of 10.12 GWe.

  • During the period 2018-2019, ten PWRs were added to the global network, with six PWRs in China, three in Russia and one in South Korea. The net addition of PWR capacity in 2019 amounted to 9.72 GWe.

  • With the support, policies and projects coming in the forecast, PWR nuclear power plants are expected to dominate during the forecast period.

Island equipment to dominate the market

  • The nuclear steam supply system includes the reactors that contain the reactor core and control system, reactor cooling pumps (RCP), primary piping, pressurizer to control the pressure of the primary coolant (only used in PWRs) and steam generators for heat exchange between the primary circuit and the secondary circuit.

  • China is the largest producer of electricity through nuclear power in Asia-Pacific. As of April 2020, 45 nuclear power plants were operating in the country and 12 were currently under construction, boosting demand for island equipment.

  • China is expected to be the world’s second largest nuclear market in terms of capacity by 2027. The government aims to have 58 GW of nuclear capacity in operation by 2020-2021 and 150 GW by 2030. With this expected growth, the island facilities are expected to experience considerable growth.

  • On the other hand, with China being one of the main suppliers of components for the nuclear power plant, the trade disruption due to the COVID-19 pandemic is likely to restrict demand for this equipment. It is therefore expected to hamper the growth of the market until mid 2021.

  • With a production of 348.7 TWh of nuclear power in 2019, China dominates the market in Asia-Pacific. With the projects ahead, the dominance is expected to continue during the forecast period.

Competitive landscape

The Chinese nuclear power plant equipment market is moderately consolidated.

Some of the major companies include China National Nuclear Corporation, Shanghai Electric Power Generation Equipment Co. Ltd, Dongfang Electric Corporation Limited, Doosan Corporation, Mitsubishi Heavy Industries Ltd.

For more information on this report, visit https://www.researchandmarkets.com/r/9cyklv


Leon E. Hill

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