Global Nuclear Feedwater Heater Market was accounted for USD 37.4 Billion in 2020 and is expected to reach USD 50.2 Billion by 2028, growing at a CAGR of around 3.6% between 2021 and 2028. Nuclear Feedwater Heater Industry Share by Product Type and Region.
Nuclear Feedwater Heater Market
The Global Nuclear Feedwater Heater Market accounted for USD 37.4 Billion in 2020 and is expected to reach USD 50.2 Billion by 2028, growing at a CAGR of around 3.6% between 2021 and 2028.
A power plant component that's wont to pre-heat water which is delivered to a steam-generating boiler is understood as a feedwater heater. Preheating of feedwater leads to the reduction of the irreversibility that is involved in steam generation, and thus this improves the thermodynamic efficiency of the system.
This successively reduces the operating costs of the plant and also helps to avoid thermal shock to the boiler metal when the feedwater is injected back into the steam cycle. The pre-heating of water makes efficient improvements within the power station by reducing the entire energy required within the boiler to convert the water to steam.
Presently, atomic power generation is an efficient way of power generation as compared to coal power generation in terms of per cost and reliability of power supply. Though there are advantages of atomic power generation, there also come concerns of lurching safety and efficiency improvements from today’s manufacturers of atomic power plants. Older plants, that is, plants before the 70’s period, aren't preferred for much time, and hence the demand for newer and more robust plants are within the picture.
New nuclear plants are highly efficient and reliable as compared to older ones. Feedwater heaters are going to be an integral part of these new nuclear plants, adding more advantages to them. Using feedwater heaters will add to the overall lifetime of the fuel assembly rods within the reactor, which successively will the value saving of those power plants in the future.
The global Nuclear Feedwater Heater market has witnessed a slight decline in services for the short term to the lockdown enforcement placed by governments to contain COVID spreading.
The restrictions imposed by various nations to contain COVID had stopped production resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand.
The market might remain bullish in the upcoming year. The significant decrease in the global Nuclear Feedwater Heater market size in 2020 is estimated based on the COVID-19 outbreak and its negative impact on the economies and industries across the globe.
Various scenarios have been analyzed based on inputs from various secondary sources and the current data available about the situation. Given the importance to all to the economic development of cities, countries, and regions, the broader impact of COVID-19 on the worldwide economy is enormous.
The ushering of the nuclear renaissance has changed the general outlook of the planet towards atomic energy. Atomic power generation is both efficient and may compete with coal-powered generation in terms of both per cost and reliability of power supply. Several efficient atomic power plants are known to run at load factors above coal-fired power plants.
However staggering safety and efficiency improvements are the necessity of the day for atomic power plants. Older plants commissioned before the ’70s aren't likely to be operated for much time now triggering a requirement for newer and more robust plants.
These new nuclear plants are likely to be required to point out much higher efficiency and reliability characteristics. Feedwater heaters are going to be an integral part of these new nuclear plants striving to achieve high-efficiency numbers.
Ongoing research for the development of a Nuclear Feedwater Heater with finer specializations is estimated to open a replacement avenue for the Nuclear Feedwater Heater market in near future. Escalating demand from emerging economies is probably going to trigger the expansion of the platform market.
The global feedwater heater market is segmented into low-pressure feedwater heaters and high-pressure feedwater heaters. Which type of heater is to be installed depends on the particular requirements of the plant.
|Report Attributes||Report Details|
|Report Name||Nuclear Feedwater Heater Market Research Report|
|Market Size in 2020||USD 37.4 Billion|
|Market Forecast in 2028||USD 50.2 Billion|
|Compound Annual Growth Rate||CAGR of 3.6%|
|Number of Pages||157|
|Forecast Units||Value (USD Billion)|
|Key Companies Covered||Thermal Engineering International Inc., Alstom, and Balcke-Durr. Other key players influencing the global market are Westinghouse, Foster Wheeler|
|Segments Covered||By Product Type, By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2018 - 2022|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
The Asia Pacific is anticipated to be the main player within the global nuclear feed water heater market, mainly due to the main installations of those nuclear feedwater heaters in this region. This trend is followed by Europe. Also, rising energy requirement in this region is anticipated to spice up the demand for atomic power within the near future. additionally, countries like China, India, Taiwan, South Korea, and Pakistan also are expected to witness considerable growth in the nuclear feedwater heater market in the future.
Some of the major players dominating the global nuclear feedwater heaters market are Thermal Engineering International Inc., Alstom, and Balcke-Durr. Other key players influencing the global market are Westinghouse, Foster Wheeler, and others.
The global Nuclear Feedwater Heater Market was valued at USD 37.4 Billion in 2020.
The global Nuclear Feedwater Heater Market is expected to reach USD 50.2 Billion by 2028, growing at a CAGR of 3.6% between 2021 to 2028.
Nuclear power generation has various advantages over coal power generation corresponding to per-unit cost and reliability of power supply. Whereas, nuclear feedwater heater is a key component for generating nuclear power. Additionally, the adoption of automated technologies in nuclear feedwater heater is supplementing the growth of the market. Since the nuclear feedwater heaters are creating huge opportunities over the forecasted period.
Asia Pacific region held a substantial share of the Nuclear Feedwater Heater Market in 2020.
Some of the major players dominating the global nuclear feedwater heaters market Thermal Engineering International Inc., Alstom, and Balcke-Durr. Other key players influencing the global market are Westinghouse, Foster Wheeler, and others.