Nuclear turbine generator helps in creating clear, safe and dependable power reliably, to fulfill the global need for power supply. Nuclear energy is created with the help of nuclear reaction that produces heat, and which is subsequently utilized in steam turbines in the production of electricity in nuclear power stations. Turbine generators are significant equipment in the nuclear power station, and the fundamental component include high-pressure turbines, low-pressure turbines, and a generator. Steam produced by steam generators is shipped off the high-pressure turbines and afterward onto the low-pressure turbines. A shaft in the turbines is associated with the generator. This generator is converting the mechanical energy into electrical energy. Nuclear energy is a safe, reliable, clean, and advanced energy source. The power created from nuclear energy is practically liberated from any ozone harming substance discharges, aside from the indirect emission related to mining, development, decommissioning, and fuel manufacture of the nuclear power plant, and removal of the waste. Additionally, nuclear power stations are baseload power plants that produce a dependable power to reliably fulfill the global need for energy.
COVID-19 Impact analysis
- Global nuclear turbine generator manufacturers have halted their production process due to disrupted supply of equipment and components from suppliers located in Southeast Asian countries and China owing to lockdown due to COVID-19 pandemic.
- The demand for turbine generator is expected to increase to manage electricity production operations to reduce the human intervention in the process.
- Those companies who were involved with the nuclear turbine generator has not resumed their work yet due to lack of availability of workforce, it might hamper the growth of the market.
Top Impacting Factors
Significant benefits of nuclear turbine generators include dependability, security, and a perfect source of energy when compared with ordinary energy resources. These factors have contributed to the development and growth of the global nuclear turbine generator market. The establishment of a few new reactors to meet energy needs during the forecasted time period is probably going to be a driver for the growth of the nuclear turbine generator market. Demand from new and upcoming power generator stations is expected to additional improve the market for nuclear turbine generators. The rapid expansion in fossil fuel costs because of consumption and shortage of non-renewable resources is expected to expand the global nuclear turbine generator demand. Nuclear generators are expected to observe an increment demand owing to the formation of a potential undiscovered reseller’s market. Another positive driver for the market is the global awareness towards decrease and guideline of environmental change which is additionally liable for decrease utilization of conventional fuels. However, stress corrosion breaking and related expenses because of steam generation are probably going to hamper the market development. Nuclear garbage removal is additionally a hindrance to the growth of the nuclear turbine generator market.
- In February 2021, Nidec Corporation announced to acquire the Mitsubishi Heavy Industries Machine Tool Co., Ltd in order to expand its production capacity and product portfolio.
- In January 2020, Westinghouse Electric Company LLC has completely acquired the rolls Royce’s Nuclear Systems and Services business in North America, this was strategic investment in expanding the company’s nuclear product and services offering.
- In February 2020, Alstom has signed a Memorandum of Understanding (MoU) with Bombardier Inc. and Caisse de depot et placement du Quebec in view of the acquisition of Bombardier Transportation.
- Looking at the new installation in Russia and growing demand from the China, India and South Korea due to rapid industrialization in expected to increase in the growth of nuclear turbine generator in Europe.
Key Benefits of the Report
- This study presents the analytical depiction of the nuclear turbine generators industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the nuclear turbine generators market share.
- The current market is quantitatively analyzed to highlight the nuclear turbine generators market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed nuclear turbine generators market analysis based on competitive intensity and how the competition will take shape in coming years
Nuclear Turbine Generators Market Report Highlights
Key Market Players
Hitachi Ltd, Westinghouse Electric Company LLC.,, Bharat Heavy Electricals Limited (BHEL), OJSC Power Machines, Doosan Heavy Industries and Construction Ltd, Alstom Power., General Electric,, The Babcock and Wilcox Company, Toshiba Corporation, Mitsubishi Heavy Industries Ltd. (MHI)