Global Nuclear Decommissioning Services Markets, 2020-2027 - With Several Governments Planning Decommissioning of Projects, Market is Poised for Growth

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Dec 18, 2020, 06:30 ET

DUBLIN, Dec. 18, 2020 /PRNewswire/ -- The "Nuclear Decommissioning Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Over 319 Reactors Worldwide Are Aged Over 30 Years. The Higher Maintenance Load Sends Nuclear Decommissioning Services on an Accelerated Path to Growth at 5.9%

The global market for Nuclear Decommissioning Services is projected to reach US$7.9 billion by the year 2027, trailing a post COVID-19 CAGR of 5.9%, over the analysis period 2020 through2027. The world can never put behind the 2011 Fukushima nuclear disaster. A dangerous mix of challenges currently confronts the nuclear power industry.

Stiff competition from low-cost natural gas; increased focus on cost cutting; reduced emphasis on safety, represent a lethal cocktail of trends in the industry. To ensure continued operation, reactor owners now need to take proactive measures in preventing aging-related failures. Intensive monitoring and preventive maintenance needed by aging reactors is expected to push up demand for nuclear decommissioning services.

Despite several issues and challenges, nuclear power is gaining acceptance as an essential component for creating a balanced energy mix that provides energy security and the flexibility to adapt to changing political, economic and environmental dynamics in every geographic region. Europe represents the largest Nuclear Power market worldwide, followed by the United States. The U.S. emerged as the single largest market for nuclear electricity over the years, followed by Russia, France, and Japan.

While established nuclear countries such as the US and UK are expected to remain the core markets for nuclear energy projects, future demand is anticipated from the Asian market, in particular China and India. In addition to spearheading projects across countries such as the UK, Argentina, Romania, and Pakistan, China is pursuing opportunities across Saudi Arabia, South Africa, Kazakhstan, Thailand, and Turkey.

Nuclear power represents a major energy source, accounting for about 11% of the global electricity generation. Reflecting the diversity of nuclear power generation pattern across the world, the energy's quotient in the total electricity generated across the 31 nations with nuclear power generation capability, ranges from 75% to about 2% with France and China representing the two extremes. The US, France and Germany are the world's largest consumers of nuclear power, followed by Japan, Russia, and Korea. India, China, as well as South-East Asia feature are expected to lead the world in terms of nuclear reactors adoption.

While Europe is witnessing the development of new nuclear power plants in Russia, the UK, France, Romania and Finland, the US is focusing on expanding the life of its nuclear reactors. Meanwhile in and Asia, aggressive investments are being earmarked for building new nuclear power capacities in countries like China and India, while Japan is poised to restart several of the long-term discontinued nuclear reactors. Up gradation of existing nuclear technologies and transition to next generation systems is expected to continue unfazed by controversies surrounding safety and security of nuclear power. The drive to achieve greater efficiency and maximum safety in comparison with earlier generation plants is fingered as a key factor lending traction to investments in this space.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

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
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"
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
Pressurized Water Reactors Occupy Commanding Share of Nuclear Decommissioning Service Market
Brief Review of Decommissioning of US and European Reactors
Immediate Dismantling: Dominating Service Type in Nuclear Decommissioning Market
Europe and United States Prime for Growth of Nuclear Decommissioning Service Market
Competitive Scenario
Encouraging Developments
Recent Market Activity

2. FOCUS ON SELECT PLAYERS

AECOM
AREVA Group
Babcock International Group PLC
Enercon Services, Inc.
Energysolutions
KDC Contractors Ltd.
Nuvia Group
Onet Technologies
Sogin S.P.A (Societa Gestione Impianti Nucleari)
Studsvik AB
Westinghouse Electric Corporation

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

GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 36

For more information about this report visit https://www.researchandmarkets.com/r/l17sl5

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