Pressurized water reactor Segment to Dominate Asia-Pacific Nuclear Decommissioning Services Market during 2019–2027
According to The Insight Partners market research study on “Asia-Pacific Nuclear Decommissioning Services Market to 2027 – COVID-19 Impact and Country Analysis and Forecast by Reactor Type, Strategy, Application and Capacity,” is expected to reach US$ 1.80 Bn by 2027 from US$ 1.22 Bn in 2019. The market is estimated to grow at a CAGR of 5.1% from 2020 to 2027. The report provides trends prevailing in the Asia-Pacific nuclear decommissioning service market along with the drivers and restraints pertaining to the market growth. As high cost is involved in decommissioning of nuclear power plants, establishing a company to decommission any nuclear power plant requires lump sum capital investments, massive manpower, and significant expertise toward the activity. Therefore, the competitive landscape of this market is majorly dominated by the well-established, industry-recognized, and financially balanced companies.
Japan is promoting massive nuclear decommissioning plans as the country has a high density of aging nuclear reactors. Moreover, the Japanese government is increasingly emphasizing on renewable energy sources for energy generation owing to which several nuclear power plants are entering into the decommissioning phase. Also, the majority of nuclear power plants in Japan are nearing 40 years, and a few are over 40 years old. The Japanese government has planned to decommission a large percentage of its nuclear power plants by 2040. This factor is expected to create lucrative business opportunities for several nuclear decommissioning services market players in the country, thereby supporting the growth of nuclear decommissioning services market.
The nuclear decommissioning services market comprise several well-established companies and financially balanced players. AECOM, Ansaldo Energia S.p.A., Babcock International Group PLC, Bechtel Corporation, EnergySolutions, GE Hitachi Nuclear Energy (GEH), Orano, Studsvik AB, Fluor Corporation, and Korea Hydro & Nuclear Power Co. Ltd. are among the key companies operating in the North America nuclear decommissioning services market.
Asia-Pacific Nuclear Decommissioning ServiceMarket, By Country, 2019 and 2027 (%) Asia Pacific Nuclear Decommissioning Service Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Gas Cooled Reactor); Strategy (Immediate Dismantling, Deferred Dismantling, Entombment); Application (Commercial Power Reactor, Research Power Reactor, Prototype); Capacity (Below 100 MW, 100 - 1,000 MW, Above 1,000 MW) and Country
Asia Pacific Nuclear Decommissioning Service Market to Grow at a CAGR of 5.1% to reach US$ 1.80 Billion from 2020 to 2027
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The report segments the Asia-Pacific nuclear decommissioning service market as follows:
Nuclear Decommissioning Service Market– By Reactor Type
- Pressurized Water Reactor
- Boiling Water Reactor
- Gas Cooled Reactor
Nuclear Decommissioning Service Market – By Strategy
- Immediate Dismantling
- Deferred Dismantling
- Entombment
Nuclear Decommissioning Service Market – By Application
- Commercial Power Reactor
- Prototype Power Reactor
- Research Reactor
Nuclear Decommissioning Service Market – By Capacity
- Below 100 MW
- 100 – 1,000 MW
- Above 1,000 MW
Nuclear Decommissioning Service Market – By Country
- China
- Japan
- India
- South Korea
- Rest of APAC