NEW YORK, Sept. 27, 2016 /PRNewswire/ -- "The nuclear decommissioning services market projected to grow at a CAGR of 12.1% from 2016 to 2021"
The nuclear decommissioning services market is projected to reach USD 8.55 billion by 2021, at a CAGR of 12.1% during the forecast period. Accidents and growing political pressure for pre-closure of nuclear power plants are the major drivers of the nuclear decommissioning services market. However, many decommissioning projects have been delayed or deferred due to lack of necessary funds. Moreover, key factors such as waste disposal & management, and decontamination can incur heavy costs, likely restraining the nuclear decommissioning services market.
"Up to 800 MW power rated segment accounted for the largest market share of the nuclear decommissioning services market"
In terms of market, by capacity, the up to 800 MW power rated segment held the largest share in 2015, in terms of nuclear power plants decommissioned. Europe occupied the largest market size, given early phase out of nuclear power plants in the region. Majority of the nuclear power plants undergoing decommissioning in this range have adopted deferred dismantling strategy for the decommissioning process.
"Boiling Water Reactors (BWR) accounted for the largest market share of the nuclear decommissioning services market"
In terms of market, by strategy, the immediate dismantling segment held the largest share in 2015. Sweden is standardized mainly on BWRs, however, Japan experiments with Pressurized Water Reactor (PWR) and BWR. According to International Atomic Energy Agency (IAEA), BWR reactors accounted for the highest number of nuclear reactors to be decommissioned, especially in Europe. This can be attributed to stringent government regulations to phase out nuclear reactors in the region by 2022.
"Europe: The largest market for nuclear decommissioning services"
Europe is estimated to be the largest market for nuclear decommissioning services, followed by Asia-Pacific and North America. Germany accounted for the largest share in the European nuclear decommissioning services market in 2015, and Russia is projected to grow at the highest CAGR from 2016 to 2021. European countries are shifting their focus towards renewable power generation after the Fukushima Daichhii accident in 2011 in Japan and the Chernobyl nuclear disaster in Russia; countries such as Germany and Italy have committed to phase out their nuclear power plants by 2022.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, corporate-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 45%, Tier 2- 30%, and Tier 3- 25%
By Designation: Corporate Level- 20%, Manager Level- 25%, and Others*- 55%
By Region: Europe- 60%, North America -25%, and Asia-Pacific- 15%
* Note: *Others include product managers, marketing managers, and sales managers.
The tier of the companies has been defined based on their total revenue, as of 2016: Tier 1 = >USD 20 billion, Tier 2 = USD 10 billion to USD 20 billion, and Tier 3 =
Leading players in this industry have been profiled along with their recent developments and other strategic activities. These include AREVA Group (France), Babcock International Group PLC. (U.K.), Studsvik AB (Sweden), AECOM (U.S.), and Westinghouse Electric (U.S.), among others.
The report segments the market based on reactor type— Pressurized Water Reactor (PWR), Boiling Water Reactor (BWR), Gas-Cooled Reactor (GCR), and other reactors (pressurized water reactor, fast breeder reactor, and light water graphite reactor); strategy—immediate dismantling, deferred dismantling, and entombment; capacity—up to 800 MW, 801 MW–1,000 MW, and above 1,000 MW; and region—Europe, North America, and Asia-Pacific. Each region has been further analyzed based on key country-level markets.
Why buy this report?
1. The report identifies and addresses key markets for nuclear decommissioning market solutions, useful for suppliers to review the demand growth of the solution.
2. The report helps solution providers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.
3. The report will help key players to better understand the competition strategies and help in making strategic decisions.
Read the full report: http://www.reportlinker.com/p04180619-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nuclear-decommissioning-services-market-by-reactor-type-strategy-capacity-and-region---global-forecast-to-2021-300335254.html