Nuclear Decommissioning Services Market Size shall reach a value of $xx Million in 2028, growing with a CAGR of 9.1% during the forecast period of 2021 to 2028.
Nuclear Decommisioning Service Market Growth and Trends
The global nuclear decommissioning services market held a market value of US$ 5.82 billion in 2019 and is expected to grow at a CAGR of 6.3% to reach a projected market value of US$ 9.43 billion by 2027. The increasing power generation technology is the major driving factor behind the growth of the nuclear decommissioning services market.
The increasing need for nuclear power is the propelling factor for the nuclear decommissioning services. A huge number of nuclear power plants are facing their operational end-time, thus influencing several Governments to initiate the decommissioning facilities, which fuels the growth of the nuclear decommissioning services market. The existing slow pace in constructing new nuclear power plants is outpaced by the decommissioning services.
The general lifetime of nuclear power plants globally is around 30 years, however, when decommissioned and refurbished with additional facilities, they can run for another 20-30 years. Just in the year 2018, around 115 nuclear reactors were decommissioned and this number is likely to increase twice by 2025. The high cost and planning involved in constructing new nuclear power plants is much higher than decommissioning existing old nuclear power plants. Hence, many countries have chosen the nuclear decommissioning services over new construction projects.
The advancing robotic technology plays a vital role in the nuclear decommissioning services market. A swift action and elimination of manual errors are provided by the involvement of robotics in the decommissioning services. Thus, this is likely to propel the future of the nuclear decommissioning market upwards. The increasing matter of safety by exposing humans to radiation exposure has also raised the need for robotics in the decommissioning services. The rising robotic technology in the automation sector has significantly reduced the costs of such technology, hence further aiding the demand for cost effective nuclear decommissioning services.
The rising activists’ protests against building new nuclear power plants have taken a political side on affecting nuclear decommissioning services. The increasing awareness about post-nuclear accident events is also bolstering the growth of the nuclear decommissioning services market. The transitioning trend towards more renewable energy sources has also positively impacted the growth curve of the nuclear decommissioning services market.
Nuclear Decommisioning Service Industry Regional Analysis
Nuclear Decommisioning Service Market Research Report Scope/Definition
Nuclear Decommisioning Service Market Share and Competition Key companies operating in this industry are: Areva Group (France), Babcock International Group PLC. (U.K.), Studsvik (Sweden), AECOM (U.S.), and Westinghouse Electric (U.S.). Global companies, given their wide geographical presence and extensive network, provide services themselves and through a larger network of third-party agencies. The end-users of decommissioning services include nuclear power plant operators and government bodies. These end-users offer contracts to service providers for decommissioning, such as Areva Group (France), Babcock International Group PLC. (U.K.), Studsvik (Sweden), AECOM (U.S.), and Westinghouse Electric (U.S.).
Nuclear Decommisioning Service Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Reactor Type Analysis (Revenue, USD Million, 2021 - 2028)
• Pressurized Water Reactor
• Boiling Water Reactor
• Gas-Cooled Reactor
• Other Reactors
Strategy Analysis (Revenue, USD Million, 2021 - 2028)
• Immediate Dismantling
• Deferred Dismantling
• Entombment
Capacity Analysis (Revenue, USD Million, 2021 - 2028)
• Up to 800 MW
• 801 MW-1,000 MW
• Above 1,000 MW
Region Analasis (Revenue, USD Million, 2021 - 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Nuclear Decommisioning Service Industry Companies
• Areva Group (France),
• Babcock International Group PLC. (U.K.),
• Studsvik (Sweden),
• AECOM (U.S.),
• Westinghouse Electric (U.S.).
• Areva Group (France),
• Babcock International Group PLC. (U.K.),
• Studsvik (Sweden),
• AECOM (U.S.),
• Westinghouse Electric (U.S.).
Available Versions of Nuclear Decommisioning Service Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
