South America Nuclear Power Plant Equipment Market

South America Nuclear Power Plant Equipment Market Analysis

The South America Nuclear Power Plant Equipment Market is expected to register a CAGR of greater than 5% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently, the market is likely to reach pre-pandemic levels.

• Over the medium term, the significant contribution of nuclear energy to reducing GHG emissions while fulfilling the increasing energy demands of a growing population and supporting sustainable development is driving the market.
• On the other hand, rising investments in alternative clean energy sources such as solar and wind are expected to restrain the market's growth during the forecast period.
• Nevertheless, the research and development into commercializing new nuclear reactor designs, such as the Fast Breeder Reactor, is expected to be a significant opportunity for the market beyond the forecast period.
• Brazil is anticipated to dominate the market during the forecast period. With the upgrade of existing projects and the addition of new reactors, the nation is expected to witness significant growth.

South America Nuclear Power Plant Equipment Market Trends

Pressurized Water Reactors to Dominate the Market

• A commercial PWR typically has a core inside the reactor vessel that generates heat. High-pressure liquid water cools and moderates the reactor pressure vessel (RPV), which contains nuclear fuel, a moderator, control rods, and coolant. A pressurizer, control roadways, reactor coolant pumps, steam generators, reactor coolant generators, and other components make up a PWR.
• As of November 2022, Argentina had three operating nuclear reactors that generated around 7% of total electricity. The country is constructing a small-scale, advanced pressurized water reactor (PWR) named Carem25 with a total capacity of 25 MWe.
• As of 2022, according to International Atomic Energy Agency statistics, the total operational pressurized water reactor (PWR) in Brazil accounted for two reactors, and Argentina accounted for one reactor.
• The South American region witnessed a growth in nuclear energy. In 2021, Argentina generated around 10.8 TWh of electricity from the nuclear power plant.
• Thus, such developments in the region are expected to support the South American nuclear power plant equipment market during the forecast period.

Brazil to Dominate the Market

• As of November 2022, Brazil had two operating nuclear power plants. In 2022, nuclear power amounted to 3% of the total electricity generation in the country. The nuclear power operable capacity of Brazil is around 1.88 GWe.
• The Brazilian nuclear power sector is expected to grow significantly. The country has also restarted work on the Angra 3 nuclear power project. In terms of the facility's civil works, the plant is currently 67.1% finished, and the whole project is 58.4% finished. The plant should be finished between 2024 and 2026.
• Brazil witnessed growth in electricity generation from nuclear energy. The country generated 14.7 TWh in 2021, compared to 14.1 TWh in 2020.
• On the other side, with no additional plans for the construction of a new nuclear power plant, the demand for nuclear equipment is likely to be restrained during the forecast period.

South America Nuclear Power Plant Equipment Industry Overview

The South American nuclear power plant equipment market is moderately consolidated. Some of the major players in the market (in no particular order) include Rosatom State Atomic Energy Corporation, China National Nuclear Corporation, Westinghouse Electric Company LLC, Dongfang Electric Corporation Limited, and Centrais Elétricas Brasileiras SA.

South America Nuclear Power Plant Equipment Market Leaders

South America Nuclear Power Plant Equipment Market News

February 2022: Electrobras, a Brazilian state-run power company, signed a contract to restart the Angra 3 nuclear power plant. The contracts aimed to finish the concrete superstructure of the power plant's reactor.

February 2022: Argentina and China National Nuclear Corporation (CNNC) signed an engineering, procurement, and construction agreement for the development of the Atucha 3 nuclear power plant at Lima, Argentina. CNNC will install Hualong One technology-the HPR1000 reactor.