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Nuclear Plant Life Extension (PLEX) Market Receives Sustained Thrust from Rising Global Demand for Nuclear Power Generation


Albany, NY -- (SBWIRE) -- 10/02/2018 -- has announced the addition of a report, titled "Nuclear Plant Life Extension (PLEX) Market, Update 2018 - Global Market Size, Average Cost, Trends, and Key Country Analysis to 2030". The in-depth report on the nuclear plant life extension (PLEX) market offers a detailed assessment of key drivers and restraints shaping the outlook of the market and the future growth trajectories. The study offers insights into emerging opportunities and lucrative avenues in various regions in key nuclear power markets, including the U.S., Canada, France, the U.K., Ukraine, Japan, and Korea. The study offers data on the capital cost and market size of various segments.

The nuclear plant life extension market is expected to rise at a promising pace during the forecast period of 2018 to 2030. The substantial drive for PLEX has come from the need for addressing the concerns of aging nuclear plants in various parts of the world. The growing global demand for nuclear power generation, in developing and developed economies, has accentuated the need for extending the life of current nuclear plants. The rapid emergence of the nuclear industry in several countries is a key factor underpinning the rapid expansion of the PLEX market.

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The growing demand for renewable power across the globe is a notable trend driving the demand for nuclear power generation. This has fueled the demand for cost-effective technologies for generating power. The high upfront cost required in building new nuclear plants compared to revamping the aging ones is a robust proposition for PLEX services across the globe. The lower cost of equipment replacement and plant modification is favoring the adoption of PLEX.

With nuclear energy occupying an increasingly vital portion of the total global energy mix in various countries over the past few years, the demand for PLEX services is receiving robust fillip. Advances in license renewable activities in several regions are also expected to propel the growth of the PLEX market.

The advent of planned PLEX programs is a crucial factor catalyzing the growth of the market. Among the various regions, the U.S. has witnessed the large uptake of PLEX services and programs. This is attributed to the rapid strides taken by the nuclear industry across North America coupled with the focus of the various governments toward planned life extensions. However, Europe held the dominant share in the global PLEX market over 2010–2017. The region is expected to retain its dominance throughout the assessment period. Meanwhile Asia Pacific has the minimum number of aged nuclear reactors that may hinder the expansion the regional market for PLEX. Nevertheless growing adoption of PLEX plants in countries such as South Korea and Japan will boost the Asia Pacific market.

The report identifies key stakeholders, key growth strategies of PLEX service providers, and recent partnership and collaborations in the nuclear plant life extension market.