Asia-Pacific to Experience Highest Demand for Reactor Pressure Vessels and Heads between 2015 and 2020
Asia-Pacific is expected to experience the highest demand for Reactor Pressure Vessels (RPV) and RPV Heads (RPVH) for commercial nuclear reactors between 2015 and 2020, accounting for half of the global market. This will be followed by Europe with 34% and 39%, and North America with 10% and 12% shares in the RPV and RPVH markets respectively. During this period, the global RPV market will be valued at $16.5 billion, and the global RPVH market at $1.9 billion, with Asia-Pacific’s shares standing at $8.1 billion and $0.86 billion respectively.
Around 71 RPVH units, broken down into 59 units for new installations and 12 units for replacements, will be required in Asia-Pacific by 2020, while in Europe around RPVH 34 units, 30 for new installations and 4 units for replacement, will be required.
The addition of 48 nuclear reactors in Asia-Pacific, which are currently at the construction stage, will add around 50 Gigawatts (GW) of nuclear capacity to the region. A total of 29 reactors, with a total capacity of around 30.6 GW, which are currently at the planning or proposal stages, will generate substantial demand for RPVs and RPVHs in the new installation market. Furthermore, RPVHs that complete their estimated operational life between 2006 and 2020, at 30 reactors, will push demand for replacement RPVHs in the Asia-Pacific region.
Between 2006 and 2014, the RPV market in Asia-Pacific was valued at $3.3 billion, and the RPVH market was valued at $490m, of which $299.9m was accounted for by new installations and $194.7m by replacements. During 2015-2020 period, the RPV market is expected to amount to $8.1 billion and the RPVH market is expected to amount to $0.858 billion, of which $0.729 billion will be new installations and $0.129 billion will be for replacements.
Highest Level of Global Reactor Pressure Vessel and Head Installation to Occur between 2015 and 2020
Around half of the forecast period’s global demand for RPVs and RPVHs is due to occur in the next five years between 2015 and 2020, when 49 new reactors are expected to come online, and 22 existing reactors are likely to require RPVH replacement. A total of 104 RPV units and 126 RPVH units will be required in the next five years, of which 104 will be for new installations, and 22 for replacements.
Between 2015 and 2020, Asia-Pacific is set to lead the global RPV and RPVH market, with demand for 59 and 71 units, respectively, mostly for new installations. A total of 12 units will be required for RPVH replacements, while 59 units will be needed for installation at new reactors.
Similar to Asia, Europe is expected to experience high demand for new installation of RPVs and RPVHs. Of the 34 RPVH units required in Europe between 2015 and 2020, four will be for replacements, and 30 will be for installation at new reactors.
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