Market Research Future published a research report on “Global Nuclear Decommissioning Market Information Report- Forecast till 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2022.
Market Overview
Nuclear decommissioning is the process of cleaning up the place of radioactive materials and dismantling of the nuclear plant. According to the World Nuclear Association, close to 180 commercial reactors and over 500 research reactors have been decommissioned. The global nuclear decommissioning market report compiled by Market Research Future (MRFR) takes a look at the future of nuclear energy, emergence of renewable energy, and other vital trends and opportunities for the period of 2017 to 2022 (forecast period). The outbreak of the COVID-19 virus and its role has been explored in detail in the report.
Market Scope
The global Nuclear Decommissioning Market is expected to register a CAGR above 6% over the forecast period.
Rise of nuclear accidents is the primary driver of the market. This is attributed to nuclear power plant meltdowns in countries such as Japan. The low costs of decommissioning of research reactors can facilitate market growth. Other major drivers include political pressure for closure of old nuclear power plants and stringent rules for decommissioning of power plants. This can be attributed to early retirements of nuclear power plants by owners and threats from the electricity generation sector. Establishment of steel recycling plants for final dismantling of plants of steel parts which hold a portion of radiation can bode well for the market. The declining prices of renewable energy and shift to alternative energy are other catalysts of the global nuclear decommissioning market.
The COVID-19 pandemic has forced plant owners to keep a remote check on the functioning of nuclear plants. The European Council had agreed to invest close to USD 12.3 billion for decommissioning of various nuclear plants in 2020.
Nuclear Decommissioning Market @ https://www.abnewswire.com/pressreleases/nuclear-decommissioning-market-size-business-strategy-development-status-industry-growth-opportunity-assessment-future-prospects-and-regional-forecast-to-2022_504315.html
Competition Outlook
AECOM, Westinghouse Electric, GD Energy Services, Studsvik AB, EnergySolutions, Areva Group, Enercon Services, Inc., Nuvia Group, Babcock International Group PLC., and EDF-CIDEN are key players of the global nuclear decommissioning market.
Segmental Analysis
The global market for nuclear decommissioning is segmented based on reactor type, strategy, and capacity.
Based on the reactor type, the nuclear decommissioning market has been segmented into PWR, BWR, GCR.
Based on the strategy, the global nuclear decommissioning market has been segmented into immediate, deferred dismanting, and others.
Based on the capacity, the market for nuclear decommissioning has been segmented into up to 800 MW, 801MW-1000MW, and above 1000MW.
Regional Analysis
The geographical analysis of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
Factors supporting the market growth in Europe include government provision towards the rising environmental concerns, encouraging the closure of nuclear power plants.
Asia Pacific nuclear decommissioning market is evolving as one of the most lucrative markets on account of several matured nuclear power plants, demanding the nuclear-decommissioning processes profoundly. South Korea is one of the emerging markets for nuclear decommissioning and has created an opportunity for foreign market players to offer the required expertise that the country needs to develop its decommissioning market. This is expected to drive the growth of the global market for nuclear decommissioning over the review period.
North America is accounted for as one of the most significant markets for nuclear power reactor decommissioning. The United States is one of the major hotspots for nuclear decommissioning, with growing closure of nuclear power plants due to the shifting focus to decrease the share of nuclear energy in the primary mix, increasing the termination of nuclear reactors, and severe safety regulations. The extent of opportunities for decommissioning contracts is anticipated to depend on the plans for renovating Canada’s remaining presently shut down reactors.
Table of Content
- Report Overview
- Market Trends and Competitive Landscapes
- Segmentation of Nuclear Decommissioning Market by Type
- Segmentation of Market by End-Users
- Market Analysis by Major Regions
- Product Commodity of Market in Major Countries
- North America Nuclear Decommissioning Landscapes Analysis
- Europe Nuclear Decommissioning Landscapes Analysis
- Asia PacificNuclear Decommissioning Landscapes Analysis
- Latin America, Middle East & Africa Nuclear Decommissioning Landscapes Analysis
- Major Players Profile
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