Plant Life Extension (PLEX) and Plant Life Management (PLIM) for Nuclear Reactors

Increasing Global Power Demand Boosts Nuclear Plant Life Extension Programs as Operators Seek to Avoid New-Build Costs, says GlobalData
 
 
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LONDON - Dec. 17, 2013 - PRLog -- With global power demand forecast to rise from more than 19,100 terawatt hours (TWh) in 2012 to over 31,800 TWh by 2025, at a Compound Annual Growth Rate (CAGR) of 4%, nuclear Plant Life Management (PLIM) and Plant Life Extension (PLEX) programs are becoming an increasingly important option for nuclear power plant (NPP) operators, says a new report from research and consulting firm GlobalData.

The company’s latest report* states that North America will be the largest market for nuclear Plant Life Extension (PLEX) between 2013 and 2025, valued at almost $21 billion. Meanwhile, the major PLEX markets in Europe between 2013 and 2025 will be France, Ukraine, the UK and Russia, which are expected to achieve revenues of $5.2 billion, $3.4 billion, $2.6 billion and $2 billion, respectively.

GlobalData believes that rising power demand is one of the main factors contributing toward the increasing importance of nuclear PLIM and PLEX programs across the globe. With this ongoing demand, NPP operators are now seeking to extend the life of their plants in order to avoid the costs associated with complete new-builds.

Pranav Srivastava, GlobalData's Associate Analyst covering Power, says: “The capital cost of building new plants is significant and involves a discouraging array of risks for investors. In comparison, the capital cost of PLIM for long-term operation is much lower, which is boosting the global trend of plant owners aspiring to increase their NPPs’ operational lives.”

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However, a number of challenges will hinder the need for nuclear PLIM and PLEX investment up until 2025, such as negative public opinion and safety concerns surrounding nuclear power.

Srivastava continues: “The Fukushima disaster in Japan resulted in some governments reconsidering their nuclear power policies, and this has been supported by radiation fears and anti-nuclear public opinion.

“As a result, there are now uncertain market conditions, which are deeming investment in nuclear projects increasingly risky and therefore impacting on the need for plant operators to consider nuclear PLIM and PLEX programs,” the analyst concludes.

This report provides analysis on the global Plant Life Extension (PLEX) market, including key drivers and restraints of PLEX and Plant Life Management (PLIM) approaches. It provides a detailed study of the PLEX process and comprehensive information on the size of the PLEX markets worldwide, including the main market players. This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.

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GlobalData is the premier source of actionable insight into the energy and healthcare industries. With the combined expertise of more than 1,000 researchers, market analysts and consultants, we provide high-quality, accurate and transparent industry insight that helps our clients to achieve growth and increase business value.

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Tags:Plant Life Extension, Nuclear Energy
Industry:Energy
Location:London City - London, Greater - England
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