Report : North America 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
Pressurized water reactor Segment to Dominate North America Nuclear Decommissioning Services Market during 2019–2027
According to The Insight Partners market research study on “North America 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$ 3.35 Bn by 2027 from US$ 1.92 Bn in 2019. The market is estimated to grow at a CAGR of 7.3% from 2020 to 2027. The report provides trends prevailing in the North America 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.
The global power generation industry has witnessed a significant rise in the number of nuclear power plants in developed countries over the past few decades. However, in the current scenario, several nuclear power plants are nearing their respective end of the operational lifecycle. This is compelling the nuclear facility operators and governments to opt for decommissioning activities. Pertaining to the risk of emission of radioactive substances from these nuclear power plants, the governments and operators are demanding decommissioning services, which is reflecting the moderate bargaining power of buyers in the current scenario. The moderate bargaining power is attributed to the fact that the decommissioning or extending the operational license of the facility are the only two options with the governments and operators. Various governments, especially the US government, have extended the license of a number of the nuclear facility, and this factor is anticipated to provide numerous profitable business opportunities for the market players during the coming years.
The nuclear decommissioning services market comprise several well-established companies and financially balanced players. AECOM, Bechtel Corporation, EnergySolutions, GE Hitachi Nuclear Energy (GEH), Westinghouse Electric Company LLC, NorthStar Group Services, Inc., Manafort Brothers Incorporated, Fluor Corporation, Atkins, and Babcock International Group PLC are among the key companies operating in the North America nuclear decommissioning services market.
North America Nuclear Decommissioning ServiceMarket, By Country, 2019 and 2027 (%)
The report segments the North America nuclear decommissioning service market as follows:
Nuclear Decommissioning Service Market– By Reactor Type
Nuclear Decommissioning Service Market – By Strategy
Nuclear Decommissioning Service Market – By Application
Nuclear Decommissioning Service Market – By Capacity
Nuclear Decommissioning Service Market – By Country