The Nuclear Decommissioning Services Market size is projected to reach US$ 9.7 billion by 2031 from US$ 6.5 billion in 2023. The market is expected to register a CAGR of 5.1% in 2023–2031. As the demand for the focus on sustainability is increasing, the usage and dependency on nuclear plants are increasing, and such an increase in sustainability is leading to the building of new power plants. As per the data published by the US Energy Department, the country is planning to add a new AP1000 reactor in the first quarter of 2024.
Nuclear Decommissioning Services Market Analysis
The demand and adoption of nuclear decommissioning services are high in the European region. Europe region has the highest number of nuclear power plants globally. As per a recent study, Europe has approximately 140 power plants. In France, there as approximately 60 nuclear power plants, whereas Russia follows the ranking with 45 nuclear power plants. Thus, owing to the high number of power plants in the European region, the demand for nuclear decommissioning services is high compared to any other region. As the demand for services is high in the region, the innovation in the decommissioning is highly seen. For instance, Slovakia recently completed its decommissioning of its state-owned power plant. During this, the government utilized digital technologies such as virtual modeling and simulations.
Nuclear Decommissioning Services Market Overview
Nuclear power plants globally are mainly operated on three different reactor types: pressurized water, boiling water, and gas-cooled. Most of the nuclear power plants that are being used currently are powered by pressurized water reactors. One of the benefits of the pressurized water reactor is that these reactors are more stable and easier to operate and maintain. Thus, the adoption of the pressurized water reactor is more compared to the other two reactor types. Across the globe, there are approximately 224 nuclear power plants that have pressurized water reactors, whereas boiling water reactors operate 7 power plants, and another type of reactor operates 71. Thus, the demand for the pressurized power plant decommissioning is more compared to other type of reactors.
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Nuclear Decommissioning Services Market: Strategic Insights
Market Size Value in US$ 5.82 Billion in 2019 Market Size Value by US$ 9.43Billion by 2027 Growth rate CAGR of 6.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Nuclear Decommissioning Services Market: Strategic Insights
| Market Size Value in | US$ 5.82 Billion in 2019 |
| Market Size Value by | US$ 9.43Billion by 2027 |
| Growth rate | CAGR of 6.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Nuclear Decommissioning Services Market Drivers and Opportunities
Ageing of nuclear power plants
As the demand for energy across the globe has increased in the past few years, the dependency on the nuclear power plant has increased. Thus, governments across the world started building nuclear power plants. Many of the power plants that are operating globally are near the end of their operational life. For instance, the European region and the UK together have approximately 109 power plants, and approximately 95 of them are near to end of their life. Such aging of the power plant is driving the demand for nuclear decommissioning services.
Adoption of robotics and advanced technology
Owing to the high risks of hazards and the time required, the adoption of robots and drones is increasing worldwide. In addition, to reduce the radiological risks, developed nations have started using virtual reality and simulation technology. The 3D simulations are also helping to understand the real-time effect of the nuclear decommissioning process. Moreover, these technologies are also aiding in workers training part. Such benefits of robotics and advanced technology are projected to create lucrative opportunities in the near future.
Nuclear Decommissioning Services Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Nuclear Decommissioning Services Market analysis are reactor type, strategy, application, and capacity.
- Based on reactor type, the Nuclear Decommissioning Services Market is divided into pressurized water reactors, boiling water reactors, and gas-cooled reactors. The pressurized water reactor segment held a larger market share in 2023.
- By strategy, the market is segmented into neurogenerative immediate dismantling, deferred dismantling, and entombment. The immediate dismantling segment held the largest share of the market in 2023.
- In terms of application, the market is bifurcated into commercial power reactors, research power reactors, and prototypes. The commercial power reactor segment dominated the market in 2023.
Nuclear Decommissioning Services Market Share Analysis by Geography
The geographic scope of the Nuclear Decommissioning Services Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America.
Europe region led the market owing to a high number of power plants and aged power plants. North America held the second-highest market share in 2023. North America region is again bifurcated into the US, Canada, and Mexico. The US is projected to dominate the North American market during the aging nuclear plants. US has 86 nuclear power plants, and approximately half of them are near to end of their lifespan. Such aging is projected to create lucrative opportunities during the forecast period.
Nuclear Decommissioning Services Market Report Scope
Nuclear Decommissioning Services Market News and Recent Developments
The Nuclear Decommissioning Services Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- UK’s Imperial College research reactor was successfully decommissioned under the regulator's control. (Source: UK Nuclear Regulation Office, Press Release/Company Website/Newsletter, 2024)
- EnergySolution acquired the closed Kewaunee nuclear power plant for the potential use of this nuclear site. (Source: EnergySolution, Press Release/Company Website/Newsletter, 2023)
Nuclear Decommissioning Services Market Report Coverage and Deliverables
The “Nuclear Decommissioning Services Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Reactor Type ; Strategy ; Application ; Capacity
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Canada, China, France, Germany, India, Italy, Japan, Russian Federation, South Korea, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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