“Global Nuclear Decommissioning Services Market, By Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Gas-Cooled Reactor, Other Reactor Types), By Decommissioning Strategy (Immediate Dismantling, Deferred Dismantling, Entombment), By Capacity (Up to 800 MW, 801 MW–1,000 MW, Above 1,000 MW), as well as by Region – Global Forecast 2021 to 2030.”, which offers a comprehensive view of the Global Nuclear Decommissioning Service Market through systematic segmentation, covering every aspect of this target market. The 5-year (2020–2026) cumulative revenue of this market is projected to be over $14,757.9 Mn, and is estimated to increase substantially over the latter part of the forecast period.
Nuclear decommissioning is the administrative and technical process whereby a nuclear facility such as a Nuclear Power Plant (NPP), a research reactor, an isotope production plant, a particle accelerator, or uranium mine is dismantled to the point that it no longer requires measures for radiation protection.
Following the unfortunate incidents that occurred in both Chernobyl, Ukraine, and more recently in Fukushima, Japan, which resulted in exposing the existing environment to highly toxic levels of radiation, affecting all living beings in those areas for years to come. As a safeguard against such type of incidents, respective authorities have established certain protocols that must be followed. This includes either the complete shutdown of older reactors or the revamping of existing infrastructures to ensure that these given facilities adhere to universal norms enforced. This is a major factor that is anticipated to continue to fuel the revenue growth of the Global Nuclear Decommissioning Service Market in the years to come. The capacity and output of various renewable energy sources has risen exponential in recent years, owing to which there has been a greater level of adoption among individuals, additionally, increasing aid and support offered by respective governing authorities are also expected to further augment market growth opportunities for this global industry. These are some of the most crucial factors anticipated to play a critical role in catapulting projected revenues for the Global Nuclear Decommissioning Service Market to $23,389.6 Mn by 2030, at a CAGR of 12.6%.
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