Insights on the Nuclear Decommissioning Services Global Market to 2026 – Wind and Solar Expansion Lead to Renewable Power Revolution – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Nuclear Decommissioning Services – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
The global market for Nuclear Decommissioning Services estimated at US$5.3 Billion in the year 2020, is projected to reach a revised size of US$7.5 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.
Up to 800 MW, one of the segments analyzed in the report, is projected to record a 6.3% CAGR and reach US$5.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the 801 MW & Above segment is readjusted to a revised 5.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $824 Million by 2026
The Nuclear Decommissioning Services market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world’s second largest economy, is forecast to reach a projected market size of US$824 Million by the year 2026 trailing a CAGR of 5.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR.
The market is poised to achieve considerable gains as a large number of nuclear power-generation facilities, especially in developed countries, are reaching end of their lifecycles. In addition, rising awareness about environmental issues and increasing affordability of renewable power sources such as solar and wind are reducing the economical appeal of nuclear power. With majority of countries playing attention to decommissioning of nuclear reactors, nuclear decommissioning is slated to enjoy immense gains and become an integral component of the nuclear industry in the coming years.
The global market is bolstered by increasing incident of nuclear accidents that are hazardous for the environment and demand effective decommissioning. The risk of nuclear accidents remains a major driver for the market owing to meltdowns of specific nuclear facilities in countries like Japan. In addition, stringent regulations and increasing pressure to close nuclear power plants are likely to further stimulate the demand for these services. The market growth is estimated to be also facilitated by low cost of dismantling research reactors. Moreover, the setup of steel recycling units to dismantle steel components with radioactive material is expected to further boost the decommissioning market.
Select Competitors (Total 38 Featured) –
- Ansaldo Nuclear Ltd.
- Babcock International Group plc
- Enercon Services Inc.
- GD Energy Services (GDES)
- Jadrova a vyradovacia spolocnost, a.s
- KDC Contractors Limited
- Nuvia Group
- Onet Technologies SAS
- Orano SA
- SOGIN S.p.A.
- Studsvik AB
- Westinghouse Electric Company LLC
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- COVID-19 Impact on Nuclear Decommissioning Services Market
- The EU Recovery Fund Links with Multiannual Financial Framework to Add for Total Financial Package during COVID-19
- Delay in Commissioning & Decommissioning Proceedings for Nuclear Facilities Entails Severe Disruptions for Nuclear Power Value Chain
- Impact on Mines, Construction & Regulations
- Change in Power Output for Q2, 2020 (in %) by Select Region – USA, EU, China, and Rest of World
- Nuclear Power: Reliable and Sustainable Electricity Source with Minimal Carbon Emissions
- Global Nuclear Power Industry: Fast Facts
- Myriad Benefits of Nuclear Power over Coal, Oil, and Gas to Drive the Vision of the “Plutonium Economy”
- Largest Nuclear Power Plants Worldwide by Gross Capacity (MWs)
- Largest Nuclear Power Plants Worldwide by Gross Electricity Generation (Billion Kilowatt Hours)
- Operational and Under Construction Nuclear Power Reactors Worldwide by Country
- Global Nuclear Reactors under Construction by Country, Net Electrical Power, and Reactor Type
- Nuclear Decommissioning: Dismantling Nuclear Facilities for Radiological Safety
- Need for Nuclear Decommissioning
- Nuclear Decommissioning Options
- Recycling & Reuse of Facility Materials
- Major International Organizations for Decommissioning
- Retirement of Numerous Nuclear Power Plants Presents Lucrative Opportunities for Nuclear Decommissioning Services Market
- High Capital Intensiveness of Nuclear Power Plants
- Nuclear Decommissioning Service Market: Key Growth Drivers & Restraints
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Accidents and Political Pressures Put Focus on Pre-Closures of Nuclear Plants
- Aging Nuclear Power Plants Increase Demand
- Prohibitive Cost & Environmental Issues Associated with Nuclear Fuel Disposal Encourage Decommissioning
- With Several Governments Planning Decommissioning of Projects, Market is Poised for Growth
- Robotic & Automation Technologies in Decommissioning
- French CEA Develops MAESTRO
- Cavendish Nuclear, OC Robotics, and Babcock International Develop Robotic Technology to Decommission Reprocessing Plants in Sellafield
- Climatic Changes Impact Nuclear Power Plants, Forcing Authorities to Mull Decommissioning in Sensitive Sites
- Unprecedented Rise of Renewable Energy Set to Accelerate Nuclear Decommissioning
- Wind and Solar Expansion Lead to Renewable Power Revolution
- Rising Concerns about Economic Viability of Nuclear Plants Extends Potential Opportunities
- Collaborative Efforts to Attain Net Zero Targets Sustain Prospects of Nuclear Power, Curtail Decommissioning Needs
- Nuclear Power’s Image as a Safe Energy Source despite Controversies
- Latest Developments Brighten Prospects for Commercialization of Advanced Nuclear Reactors
- Lifetime Extension & Updating of Existing Facilities Reduce Market Opportunities
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/vr7bf3
Laura Wood, Senior Press Manager
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