Market Overview 2022-2027:
The latest research study “Nuclear Decommissioning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global nuclear decommissioning market size reached US$ 6.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.57 Billion by 2027, exhibiting a CAGR of 5.50% during 2022-2027.
Industry Definition and Application:
Nuclear decommissioning is an administrative and technical procedure wherein the refined demolition of atomic facilities is performed to the point that it no longer requires radiation protection. It involves the cleanup of radioactive substances, safer shipping of hazardous components, and disassembling contaminated materials from the plants as some of the standard techniques. Nuclear decommissioning is categorized into various types, such as immediate, safe enclosure, and entombment services. It aids in eradicating radiological risks and minimizing energy mishappenings. As a result, nuclear decommissioning finds widespread applications in commercial power facilities post-intensive planning and characterization of radioactive elements.
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The escalating number of atomic power-generation plants reaching their end lifecycles and the rising concerns towards public safety, on account of the hazardous effects of radiation accidents, are primarily driving the nuclear decommissioning market. Besides this, the development of steel recycling units that utilize radioactive materials to disassemble components is further augmenting the market growth. Moreover, the growing popularity of several nuclear decommissioning services, including post-operational phase, waste package assessment, dismantling concepts, accompanying support, etc., is also catalyzing the global market.
Apart from this, the increasing industrialization levels, extensive research and development (R&D) activities for the development of novel technologies, and the elevating instances of chemical-related mishappenings are acting as significant growth-inducing factors. Furthermore, the emerging trend of renewable power sources, such as wind and solar, owing to the impelling environmental awareness among the masses, is anticipated to propel the nuclear decommissioning market over the forecasted period.
|Nuclear Decommissioning Market Report Scope|
|Market size value in 2021||US$ 6.14 Billion|
|Market forecast in 2027||US$ 8.57 Billion|
|Growth Rate||CAGR of 5.50% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Reactor Type, Strategy, Capacity and Region|
The report has been segmented the market into following categories:
Breakup by Reactor Type:
- Pressurized Water Reactor (PWR)
- Boiling Water Reactor (BWR)
- Gas Cooled Reactor (GCR)
Breakup by Strategy:
- Deferred Dismantling
- Immediate Dismantling
Breakup by Capacity:
- Upto 800 MW
- 801 MW-1000 MW
- Above 1000 MW
Breakup by Geography:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Competitive Landscape with Key Player:
- Babcock International Group PLC
- General Electric Company
- James Fisher and Sons plc
- Northstar Group Services Inc.
- Ontario Power Generation Inc.
- Bechtel Corporation
- Électricité de France S.A
- Orano SA
- Studsvik AB
- Westinghouse Electric Company LLC.
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