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)

Marketresearch.Biz announces 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 by Region – Global Forecast to 2030”, which offers a holistic view of the global nuclear decommissioning services market through systematic segmentation that covers every aspect of the target market. The global nuclear decommissioning services market is projected to be US$ 7,868.4 Mn in 2020 to reach US$ 23,389.6 Mn by 2030 at a CAGR of 11.6%.

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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. 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. 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.

With governments encouraging the utilization of renewable energy resources over nuclear energy power generation, dismantling operations are expected to continuously grow in the near future, thus boosting the growth of the global nuclear decommissioning services market to a significant extent. Various political decisions that are based on social constraints and security concerns are likely to further support the move to shutdowns nuclear plants over the next two decades.

To prevent incidents like the Fukushima accident, the need to close old plants has increased. Also, there has been significant growth in renewable energy capacity and output. These factors have led to the growth of the nuclear decommissioning service market. There are certain restraints for the decommissioning of nuclear plant like stringent government regulation, the gradual shift from nuclear power energy resources to clean and renewable energy resources and lack of adequate and necessary funds. Decommissioning of nuclear power plants in developed and emerging economies like USA and South Korea are creating growth opportunities for the target market. Renewable source of energy is the new trend in countries because of its minimal environmental impact.

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Global Nuclear Decommissioning Services Market Revenue (US$ Mn), 2020–2030

The global nuclear decommissioning services market is segmented on the basis of reactor type, decommissioning strategy, capacity, and regions, and countries. Among the reactor type segments, the boiling water reactor segment holds a significant revenue share in the market and is expected to register a considerable growth rate during the forecast period. Capacity Up to 800 MW holds a maximum share in the market. Among the regions, the European market is projected to register a significant revenue growth rate over the forecast period

Global Nuclear Decommissioning Services Market Attractiveness Analysis by Form, 2014–2030

By region, the market is segmented into North America, Europe, APAC, South America, and Middle East Africa. Based on the region, the Europe market is estimated to account for significant revenue share and is projected to dominate the global Nuclear Decommissioning Services market in the next coming years. The North America region is expected to grow rapidly in the coming year owing to the increase in awareness about environmental protection.

The research report on the global Nuclear Decommissioning Services market includes profiles of some of the 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.

Global nuclear decommissioning services market segmentation:

Segmentation by reactor type:

• Pressurized Water Reactor (PWR)
• Boiling Water Reactor (BWR)
• Pressurized Heavy Water Reactor (PHWR)
• Gas Cooled Reactor (GCR)
• Others

Segmentation by strategy:

• Immediate Dismantling
• Deferred Dismantling
• Entombment

Segmentation by capacity:

• Up to 800 MW
• 801 MW–1,000 MW
• Above 1,000 MW

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa