Dublin, Oct. 16, 2024 (GLOBE NEWSWIRE) -- The "Global Nuclear Power Plant Control System Market by Component (Hardware, Services, Software), Type of Control System (Digital Control Systems, Emergency Shutdown Systems, Human-Machine Interface Systems), Application - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Nuclear Power Plant Control System Market size was estimated at USD 752.62 million in 2023, USD 789.65 million in 2024, and is expected to grow at a CAGR of 5.43% to reach USD 1.08 billion by 2030.
The increasing need for power generation and heavy investments by the governments have propelled the demand for nuclear power plant control systems. However, the high cost associated with the maintenance and installation of power plant control systems, along with the strict government regulations, is a significant challenge faced by manufacturers and operators. Moreover, technological progress in control systems, such as improvements in digital instrumentation and control (I&C) systems, has significantly enhanced the reliability and performance of nuclear power plants. Modern I&C systems offer precise control over nuclear reactors, improving safety margins and operational flexibility.
Regional Insights
The United States and Canada are key players in the nuclear power sector in the Americas. The United States has a significant number of nuclear reactors in operation globally, with an increasing number of them undergoing life extension projects to ensure operation beyond their original design life. With its CANDU reactor technology, Canada focuses on exporting its nuclear technology and refurbishing its existing reactors. Customer interests in the Americas are skewed toward technologies enhancing lifespan, efficiency, and the safety of nuclear reactors, underpinned by a regulatory environment stringent on safety and environmental impact standards.
At the same time, the EMEA region presents a diversified perspective towards nuclear energy. European Union (EU) countries exhibit a mixed stance, with some nations phasing out nuclear power while heavily investing in nuclear energy as part of their carbon-neutral goals. Patents and research in the EMEA region emphasize enhancing safety measures, improving reactor efficiency, and reducing the ecological footprint of nuclear power generation.
Moreover, the Asia Pacific region demonstrates a dynamic and diverse approach towards nuclear energy. In the region, the government's push towards reducing carbon emissions has led to significant investments in nuclear energy, with several new reactors under construction and in the planning stages. Recent patents in the region revolve around advancements in safety protocols, efficient reactor control methods, and disaster mitigation technologies, reflecting the ongoing quest for safer and more efficient nuclear energy sources.
Market Dynamics
The market dynamics represent an ever-changing landscape of the Nuclear Power Plant Control System Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
- Increasing global demand for clean and reliable energy sources worldwide
- Ongoing technological advancements and digitization initiatives
- Rising public and private investments in the nuclear energy sector
Market Restraints
- The increased risk of cyber-attacks in nuclear power plant control system
Market Opportunities
- Development of hybrid systems coupling nuclear power operations with renewable energy systems
- Favorable government initiatives to increase development of clean energy
Market Challenges
- Complex regulatory landscape and safety concerns associated with nuclear power plants
Market Segmentation Analysis
- Component: Integration of advanced software in power plant control devices to cater to seamless interaction between the control system and the plant operators
- Application: Adoption of power plant control system in radiation power control and cooling applications for workers and operational safety
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
- FPNV Positioning Matrix
- Market Share Analysis
- Strategy Analysis & Recommendation
Recent Developments
Westinghouse Finishes Full Acquisition of Tecnatom
Westinghouse Electric Company successfully acquired Tecnatom, a move that has received all necessary regulatory clearances. This strategic acquisition solidifies Westinghouse's presence in the Spanish nuclear sector and enhances its global service offerings. By integrating Tecnatom's expertise, Westinghouse aims to elevate its portfolio in nuclear refueling, maintenance, inspection, engineering, training, and digital solutions. This acquisition is expected to deliver heightened value to the worldwide nuclear industry, reaffirming Westinghouse's commitment to excellence and innovation in nuclear services.
Eviden and Schneider Electric Win Major Contract with EDF to Equip 6 Planned EPR2 Nuclear Power Plants
Eviden's expertise in energy management solutions and nuclear control systems through its Worldgrid division led to a significant contract agreement with EDF alongside Schneider Electric. This contract involves Worldgrid, operating from the ISERAN campus in Grenoble, taking charge of the integration and programming of programmable logic controllers (PLCs) and the development of software crucial for automating the conversion of control function diagrams into PLC programming.
Framatome Announced Contract with Vattenfall for Ringhals Modernization
Framatome secured new contracts with energy giant Vattenfall to enhance the operational efficiency and safety of the Swedish Ringhals nuclear power plant. The project's scope encompasses a comprehensive update of the reactor control systems, leveraging Framatome's acclaimed digital TELEPERM XS platform for instrumentation and control (I&C). Additionally, the contract includes refurbishing the reactor coolant pumps, a critical component in ensuring nuclear reactors' continuous and safe operation. This initiative underscores both organizations' commitment to adopting advanced technologies for nuclear plant operations, promising improved reliability and safety standards.
Key Company Profiles
The report delves into recent significant developments in the Nuclear Power Plant Control System Market, highlighting leading vendors and their innovative profiles. These include:
- Centrus Energy Corp.
- CMR Group
- Curtiss-Wright Corporation
- Doosan Group
- Emerson Electric Co.
- Fennovoima Ltd.
- Fortum
- Framatome
- General Electric Company
- Hitachi Ltd.
- I&C Energo a.s.
- KEPCO KPS
- KSB Group
- L3Harris Technologies, Inc.
- MicroMod Automation
- Mitsubishi Electric Corporation
- Next Kraftwerke GmbH
- Nuclear Power Plant-NR Electric Co. Ltd.
- NuScale Power Corporation
- Rockwell Automation Inc.
- Rolls-Royce PLC
- Rosatom State Nuclear Energy Corporation
- Schneider Electric SE
- Siemens AG
- Stella Controls by HIMA Paul Hildebrandt GmbH
- Toshiba Corporation
- Uniper SE
- Westinghouse Electric Company LLC
- ZAT a.s.
- Electricite de France
Market Segmentation & Coverage
This research report categorizes the Nuclear Power Plant Control System Market to forecast the revenues and analyze trends in each of the following sub-markets:
Component - Hardware
- Control Valves
- Input/output devices
- Motors
- Sensors
- Switches
- Services
- Software
Type of Control System
- Digital Control Systems
- Emergency Shutdown Systems
- Human-Machine Interface Systems
- Programmable Logic Controllers
- Reactor Protection Systems
- Safety Instrumented Systems
Application
- Cooling System Control
- Generator Control
- Radiation Monitoring & Control
- Reactor Control & Protection
- Safety & Emergency Systems
- Turbine Control
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Key Attributes
| Report Attribute | Details |
| No. of Pages | 197 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $789.65 Million |
| Forecasted Market Value (USD) by 2030 | $1.08 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/knta2z
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