Nuclear Decommissioning Services Market Size Rising At A CAGR of 6.8% By 2025: Evolving Opportunities, Development, Innovations, Ongoing Trends And Service By Grand View Research, Inc.

Nuclear Decommissioning Services Market Size Rising At A CAGR of 6.8% By 2025: Evolving Opportunities, Development, Innovations, Ongoing Trends And Service By Grand View Research, Inc.

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According to a new report published by Grand View Research, major factors driving the growth of the nuclear decommissioning services market include the shutdown of nuclear plants due to their aging and growing emphasis on renewable energy. Governments across the world are focusing on nuclear phase-out owing to the various nuclear accidents and environmental impact, hence the market for nuclear decommissioning services has observed a tremendous surge in recent years.

The global nuclear decommissioning services market size is expected to be valued at USD 8.90 billion by 2025, exhibiting a 6.8% CAGR during the forecast period. The demand for public safety and risks involved in nuclear reactors due to the potentially disastrous effects of nuclear accidents is expected to drive the market growth over the forecast period. Furthermore, rising environmental issues are expected to boost industry growth. Over the forecast period, the transition cycle towards clean energies, owing to the numerous government policies and legislation, is expected to encourage the nuclear decommissioning services market.

Since radioactive waste degrades over time, nuclear dismantling takes many years. In general, a reactor’s lifetime is calculated to be between 40 and 60 years, beyond which it becomes impossible to operate. As a result, when power plants reach the end of their useful lives, they must be decommissioned or dismantled so that the land can be used for other purposes. 

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Nuclear Decommissioning Services Market Report Highlights

 Based on reactor type, the pressurized heavy water reactor is the favorable reactor segment owing to its high degree of stability and ease of service. The segment is also expected to witness the fastest growth during the forecast period.

From a strategy standpoint, the immediate dismantling of reactor strategy soon after its shutdown is dominating the global market. However, due to the growing energy crisis across the globe, the majority of nations are extending the lifespan of nuclear reactors, therefore adopting the deferred dismantling strategy. Hence, the deferred dismantling is projected to be the fastest-growing strategy segment during the forecast period.

In May 2020, Enresa, a Spanish decommissioning company, applied to the Ministry of Ecological Transition and Demographic Challenge (MITECO) for the transfer of ownership of the Garoa nuclear power plant and the first steps of its decommissioning.

Europe was valued at USD 2.29 billion in 2016 and is expected to witness significant nuclear decommissioning in the future, with Germany and the U.K. as major markets.

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Nuclear Decommissioning Services Market Segmentation

Grand View Research has segmented the global nuclear decommissioning services market on the basis of reactor type, strategy, and region:

Nuclear Decommissioning Services Reactor Type Outlook (Revenue, USD Million, 2014 – 2025)

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

Nuclear Decommissioning Services Strategy Outlook (Revenue, USD Million, 2014 – 2025)

     Immediate Dismantling
     Deferred Dismantling

Nuclear Decommissioning Services Regional Outlook (Revenue, USD Million, 2014 – 2025)

     North America
        • The U.S.
        • Germany
        • France
        • The U.K.
     Asia Pacific
        • South Korea
        • Japan
     Central & South America
     Middle East & Africa

List of Key Players of Nuclear Decommissioning Services Market

    • Babcock International Group PLC
     Studsvik AB.
     Westinghouse Electric Company LLC
     AECOM Group
     Bechtel Group Inc.
     CH2M Hill Company Ltd.
     Magnox Ltd.
     GE Hitachi Nuclear Energy
     Orano Group
     Ansaldo Energia S.p.A

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About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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