Nuclear Condensate Pump Market: Overview
Nuclear condensate pump is a particular type of pump that is used for pumping the condensate generated in HVAC, condensing boiler furnace, steam, or refrigeration systems. Nuclear energy is used for the operation. The main condenser condenses the steam from the main turbine’s stages of low pressure and also from the steam dump. The steam is then condensed by passing the cooling system.
The research report on the global nuclear condensate pump market provides a brief outlook of the market and provides meaningful insights about the workings of the same. The report also offers detailed information about the factors affecting the growth of the market, notable developments, and the geographical outlook of the global market.
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Nuclear Condensate Pump Market: Notable Developments
Some of the key developments of the global nuclear condensate pump market are given below:
- In November 2016, Entergy Corp announced that the company has agreed to sell its Entergy Nuclear Vermont Yankee. The company also reported that it will transfer the US Nuclear Regulatory licenses to the subsidiaries of the NorthStar Group Services. This agreement was signed with an aim to quick decommissioning and the restoration of the Vermont Yankee site. The Nuclear Regulatory Commission approved the transfer of licenses in October 2018 after a very detailed review.
- In 2019’s Supplier Partnership Summit, GE Power acknowledged the support of KSB as its strategic partner and wished to continue their collaboration for coming years. GE Power India Ltd. and KSB Pumps Limited have been collaborating for more than a decade.
- Recently, KSB Pumps Limited announced that the company has been successful in bagging the biggest order under the ‘Make in India’ initiative worth INR 4130 Mio for the supply of 8 units of primary coolant pumps. These pumps are proposed to be installed at NPCIL’s Goarkhpur Anu Vidyut Pariyojana (Nuclear Electricity Generation Program) 1 & 2 project in Haryana.
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Nuclear Condensate Pump Market: Drivers and Restraints
There are many factors that have been instrumental in developing the global nuclear condensate pump market. One of the key driving factors for the growth of the nuclear condensate pump market is the increasing demand from the under construction or planned and current nuclear power plants. It is projected that more than 20 new nuclear reactors will come online over the course of the given forecast period of 2019 to 2027. This indicates that the growth of the nuclear condensate pumps market across the globe is on the right track. In addition to this, the current nuclear condensate pumps will be needed to be replaced or repaired as their operation life is of 30 years. This is also expected to help the global market to grow at a rapid pace in the coming years. Newly planned projects across the Middle East and Africa region is also expected to drive the growth of the market in coming years.
Nuclear Condensate Pump Market: Geographical Outlook
From a geographical point of view, the global nuclear condensate pump market is divided into five main regions namely Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
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Of these key segments, the maximum growth potential is shown by the Asia Pacific region. This is because of the presence of developing nations such as India and China. These nations have high energy demands and nuclear condensate power pumps are a viable energy generation option.
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