MarketResearch.biz announces the publication of its most recently generated research report titled, “Global Nuclear Decommissioning Services Market by Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Gas-Cooled Reactor, and Other Reactor Types), By Decommissioning Strategy (Immediate Dismantling, Deferred Dismantling, and Entombment), By Capacity (Up to 800 MW, 801 MW-1,000 MW, and Above 1,000 MW), and Region – Global Forecast to 2028.”, which offers a holistic view of the global Nuclear Decommissioning Services market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2019–2028) is projected to be over US$ 48 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Most nuclear power plants are designed to operate for 40 years; however, some nuclear plants have a lifespan of 50 years. Many existing plants are in the process of being upgraded and deploying more advanced infrastructure at these facilities, while some are inclined to be decommissioned and shut. Decommissioning of a nuclear facility is the procedure in which a nuclear plant is dismantled to the position that it no longer requires actions for protection from hazardous radiation. Decommissioning is a technical and administrative process. It includes progressive demolition and cleaning of radioactive materials from facilities. The use of decommissioning services has been increasing, with governments of various countries focusing on ensuring efficient and safe dismantling of nuclear plants and facilities. After the Fukushima incident, some countries have implemented nuclear phase policies.
Global Nuclear Decommissioning Services Market: Market Dynamics
Increasing the utilization of renewable energy resources over nuclear energy, various political, social, security, and environmental concerns are the factors that have created a growth opportunity for the nuclear decommissioning services market. Also, the decommissioning of nuclear power plants in developed and emerging economies like the USA and South Korea are creating growth opportunity for the target market. Trends like the use of renewable energy resources are boosting the growth of the nuclear decommissioning services market.
Limited funds and lack of resources in some emerging economies, along with stringent government regulations and a gradual shift from nuclear energy to renewable energy resources, are the factors that hinder the growth of the target market.
Global Nuclear Decommissioning Services Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global nuclear decommissioning services market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global Nuclear Decommissioning Services market is estimated to expand at a moderate CAGR of 11.6% during the forecast period.
Global Nuclear Decommissioning Services Market: Segmental Snapshot
The market report has been segmented on the basis of reactor type, application, and region. The reactor type segment includes a pressurized water reactor, boiling water reactor, gas-cooled reactor, and other reactor types. The decommissioning strategy segment includes immediate dismantling, deferred dismantling, and entombment. The capacity segment includes Up to 800 MW, 801 MW-1,000 MW, and Above 1,000 MW The region covered in the analysis are North America, Europe, Asia Pacific, and the Rest of the World.
By reactor type: The boiling water reactor segment is expected to register a CAGR of over 12.1%, thereby accounting for the highest revenue share among the type segments.
By decommissioning strategy: The immediate dismantling segment is expected to register a CAGR of over 11.4% over the forecast period, thereby accounting for the highest revenue share among the application segments.
By capacity: The Up to 800 MW segment is expected to register a CAGR of over 12.5% over the forecast period, thereby accounting for the highest revenue share among the application segments.
By region: The market in Europe accounted for the highest revenue share in the global nuclear decommissioning services market in 2018 and is estimated to register a CAGR of over 12.0% between 2020 and 2028.
Global Nuclear Decommissioning Services Market: Competitive Analysis
The research report on the global nuclear decommissioning services market includes profiles of major companies such as AECOM, Babcock International Group PLC, Westinghouse Electric Company LLC, Orano USA (Areva S.A.), EnergySolution Inc., Sogin, Studsvik AB, KDC Contractors Limited, Nuvia Group, and GD Energy Services.
The Global Nuclear Decommissioning Services Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2021–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Nuclear Decommissioning Services Market for 2020–2028.
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