Nuclear Decommissioning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Nuclear Decommissioning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global nuclear decommissioning market size reached US$ 6.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

Nuclear decommissioning refers to an administrative and technical procedure wherein the progressive demolition of nuclear facilities is executed to the point that it no longer requires radiation protection measures. It involves cleanup of radioactive substances, followed by dismantling of contaminated materials from the plants and safer shipping of hazardous components as some of the standard methods. Nuclear decommissioning aids in eliminating radiological risks and minimizing nuclear energy mishappenings. Consequently, the process is extensively implemented in commercial nuclear power facilities post intensive planning, characterization of radioactive elements, and release of nuclear facilities. Currently, it is categorized into immediate, safe enclosure and entombment nuclear decommissioning service types.

Nuclear Decommissioning Market Trends:
One of the key factors driving the nuclear decommissioning market is the growing number of nuclear power-generation plants reaching their end lifecycles. This is further supported by the increasing concerns about public safety owing to the hazardous effects of nuclear accidents. Moreover, escalating environmental concerns have prompted the uptake of renewable power generation sources, such as wind and solar, which has further supplemented the usage of nuclear decommissioning to inhibit the pollution and soil erosion caused by radioactive particles. Additionally, the emergence of various organizations providing multiple nuclear-decommissioning services, such as dismantling, concepts, post-operational phase, waste package assessment, accompanying support, and decommissioning reports, is contributing to the market growth. Besides this, the establishment of steel recycling units that utilize radioactive materials to dismantle steel components is propelling the market growth. Other factors, such as rapid industrialization, growing instances of nuclear accidents, and ongoing investments in research and development (R&D) activities to introduce novel technologies are creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global nuclear decommissioning market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on reactor type, strategy and capacity.

Breakup by Reactor Type:

Pressurized Water Reactor (PWR)
Boiling Water Reactor (BWR)
Gas Cooled Reactor (GCR)
Others

Breakup by Strategy:

Deferred Dismantling
Entombment
Immediate Dismantling

Breakup by Capacity:

Upto 800 MW
801 MW-1000 MW
Above 1000 MW

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aecom, Babcock International Group PLC, Bechtel Corporation, Électricité de France S.A, EnergySolutions, General Electric Company, James Fisher and Sons plc, Northstar Group Services Inc., Ontario Power Generation Inc., Orano SA, Studsvik AB and Westinghouse Electric Company LLC.

Key Questions Answered in This Report:
How has the global nuclear decommissioning market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global nuclear decommissioning market?
What are the key regional markets?
What is the breakup of the market based on the reactor type?
What is the breakup of the market based on the strategy?
What is the breakup of the market based on the capacity?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global nuclear decommissioning market and who are the key players?
What is the degree of competition in the industry?