Germany Nuclear Power Reactor Decommissioning Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Germany Nuclear Power Reactor Decommissioning Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Germany nuclear power reactor decommissioning market is expected to rise at a CAGR of more than 3% during the forecast period of 2020-2025. Factors such as increasing nuclear power reactors reaching operational retirement are likely to drive the Germany nuclear power reactor decommissioning market. However, the high cost of decommissioning nuclear plants is expected to restrain the Germany nuclear power reactor decommissioning market.

Key Highlights

• The commercial power reactor is expected to be the largest segment and is likely to dominate the Germany nuclear power reactor decommissioning market.
• Increasing the use of robots and artificial intelligence in the decommissioning of the nuclear reactor, which is safer and is likely going to create several for the Germany nuclear power reactor decommissioning market in the future.
• Increasing renewable energy installation, which is cheaper and cleaner, is expected to drive the Germany nuclear power reactor decommissioning market during the forecast period.

Key Market TrendsCommercial Power Reactor Expected to Dominate the Market

• The commercial power reactors are the nuclear reactors that are mainly used for generating electricity. Most of these reactors are being installed in nuclear power plants. Moreover, increasing renewable energy from solar and wind is much cheaper and cleaner.
• A decade ago, nuclear power generation accounted for almost 25% of Germany's total power generation. In 2019, nuclear power reactors produced 75.1 TWh from 6 reactors (combined capacity – 8.05 GW), representing only 12% of the total electricity generation. The decreasing use of a nuclear source of energy generation in the country is likely going to drive the country’s nuclear power reactor decommissioning market.
• In 2019, the total electricity produced by nuclear energy in Germany was 75.1 terawatt-hours (TWh), which was higher than the region produced in 2018, 76 TWh. The country in recent years has reduced the usage of nuclear energy to produce electricity.The country is also planning to phase-out from all the nuclear power stations by 2022. In turn, this is likely to create a massive demand for the nuclear reactor decommissioning market in the country in the very short-term.
• In December 2019, Germany disconnected the Block 2 of the Philippsburg power station, located in the Baden-Württemberg state. The reactor has been supplying homes and businesses with electricity since 1986, has generated more than 355 billion TWh of energy.
• Hence, owing to the above points, the commercial power rector segment is likely to dominate the Germany nuclear power reactor decommissioning market during the forecast period.

Increasing Renewable Energy Expected to Drive the Market

• Renewable energy sources are some of the most important sources of electricity for Germany, and the expansion of renewable is one of the central pillars in Germany's energy transition.
• In 2019, Germany's total renewable energy installation capacity was 125.38 gigawatts (GW), which was less than the country's installed capacity of 2018, 119.29 GW. The increasing capacity of renewable energy in the country exhibits a cheaper and safer form of generating electricity, which is expected to drive the nuclear power reactor decommissioning market.
• Some of the major drivers for the growth of the offshore wind industry in the country are significant developments in technology, which have led to a drop in the production cost of offshore wind farms, making them comparable to the onshore wind farms, in some cases, in terms of economic performance.
• In March 2020, EnBW started constructing its Weesow-Willmersdorf solar park with an installed output of 187 megawatts on an area covering 164 hectares. The solar park is located northeast of Berlin in Werneuchen, Brandenburg. The park is likely to supply around 50,000 households with environmentally friendly energy through its annual yield of 180 million kilowatt-hours of electricity, saving about 129,000 tonnes of CO2 each year. The entire project is due to be commissioned before the end of 2020.
• Hence, owing to the above points, increasing renewable energy is expected to drive the Germany nuclear power reactor decommissioning market during the forecast period.

Competitive Landscape

The Germany nuclear power reactor decommissioning market is moderately fragmented. Some of the key players in this market includeRWE AG, EnBW Energie Baden-Württemberg AG, Energiewerke Nord GmbH (EWN), Orano Group, and E.ON SE.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Vattenfall Group
E.ON SE
RWE AG
EnBW Energie Baden
Württemberg AG
Energiewerke Nord GmbH (EWN)
Orano Group
Studsvik AB
GNS Group

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