The global Nuclear Decommissioning Services Market size was USD 5.82 Billion in 2022 and is expected to register a revenue CAGR of 7% over the forecast period, according to the latest report by Reports and Data.
The market for nuclear decommissioning services is poised for growth, driven by several key factors. Firstly, the increasing global demand for electricity is leading to the construction of more nuclear power stations. This heightened energy consumption, stemming from industrialization and population growth, has resulted in a greater number of power facilities. Consequently, as these facilities near the end of their operational lifespan, the demand for nuclear decommissioning services is expected to rise.
Secondly, stringent government regulations concerning the disposal of nuclear waste are contributing to the expansion of the nuclear decommissioning services market. Effective nuclear waste management is a critical concern due to its potential environmental and human health risks. To address this issue, governments worldwide have implemented strict laws, thereby increasing the demand for specialized nuclear decommissioning services.
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Top companies profiled in the report are:
- AECOM
- Babcock International Group
- EnergySolutions
- Groupe EDF
- Jacobs Engineering Group
- Magnox Ltd.
- Orano
- Sellafield Ltd.
- Studsvik AB
- Waste Control Specialists LLC
Some Key Highlights from the Report
The Pressurized Water Reactor (PWR) segment is expected to have the largest market share in the global market for nuclear decommissioning services throughout the forecast period. The market segments are PWR, Boiling Water Reactor (BWR), Gas Cooled Reactor (GCR), and Others. Because of the large number of PWR reactors currently in operation around the world, the PWR sector is expected to have the highest revenue share in the market. PWR reactors are also commonly used in countries with large nuclear power generation capacity, such as the United States, France, and China. As a result, it is expected that the decommissioning of PWR reactors will significantly contribute to market growth over the forecast period.
The immediate dismantling strategy is expected to dominate the market during the projection period. The plan calls for demolishing the entire nuclear complex and safely disposing of radioactive waste. The majority of countries prefer this technique due to its benefits, which include lower long-term financial risks, less radiation exposure for employees, and faster decommissioning. The need for prompt dismantling is expected to grow due to an increasing number of nuclear plants reaching the end of their operational lives, strict government restrictions for nuclear safety, and growing concerns about nuclear security. Furthermore, increased funding for nuclear decommissioning activities is expected to drive revenue growth.
Regional Segmentation:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Key Points Explained in the Regional Outlook Section:
- Regional market revenue share over the forecast period
- Key factors contributing to the regional market growth over the forecast period
- Vital information related to each regional market
- Leading companies in each regional market, as well as the leading products of these companies
- Detailed study of the supply demand ratios and production consumption patterns in each regional market
Nuclear Decommissioning Services Market Segmentation:
By Reactor Type Outlook:
- Pressurized Water Reactor
- Boiling Water Reactor
- Gas Cooled Reactor
- Others
By Strategy Outlook:
- Immediate Dismantling
- Safe Storage
- Entombment
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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