|01-08-2019 10:52 AM CET - Energy & Environment||
Nuclear Decommissioning Market Share, Growth, Industry Segments, Competitor Landscape, Key Players, Trends and Forecasts 2022
Press release from: Market Research Future
Nuclear Decommissioning process refers to the shutting down of the reactor and the demolishing of the power plants, making it available for some other use. Nuclear power plants generally have a limited life of around 55 years. However, recent technological advancements have proven to be useful in refurbishing them to run well beyond this allowing a substantial grace period.
Nuclear Decommissioning towards the end of life production accentuates on the elimination of radioactive elements that are time intensive and hazardous to the environment; thus protecting the ecosystem. Worldwide there are about 150 shutdown reactors; out of which around 17 were due to be decommissioned entirely on the war front by 2016. These statics presages the potential opportunities the Nuclear Decommissioning market will garner during the forecast period.
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Recognizing the growth potential, the market demonstrates currently, Market Research Future (MRFR) in its recently published study report, states that the global Nuclear Decommission Market is expected to witness a significant growth by 2022 registering over 6% CAGR during the forecast period (2017 – 2022).
Closing down a reactor and start decommissioning could be the owner's decision; that enables him to write it off or pronounce that it is permanently out of operation. However, the decision might get implemented based on multiple reasons as well.
Major ones being experimental, or following an accident not necessarily to the reactor itself, which can be attributed to economically unjustified repairs.
Sometimes a reactor is shut down based on the political decision or due to regulatory impediment without clear or significant economic or technical justification.
Nuclear decommissioning challenges the world over the environmental impact, demanding innovative approaches to ensure the safe and cost-effective dismantling of high hazard nuclear facilities. One of the severely complex components of a nuclear power plant is the reactor vessel, which needs to be safely and securely reduced to manageable sizes for safe storage.
Global Nuclear Decommissioning Market - Segmentation
The MRFR analysis is segmented into four key dynamics, for an enhanced understanding;
By Reactor Types : Comprises - PWR, BWR, and GCR among others.
By Strategies : Immediate and Deferred Dismantling, among others.
By Capacities : up to 800MW, 801MW-1000MW, above 1000MW.
By Regions : North America, Europe, APAC and Rest-of-the-World.
Global Nuclear Decommissioning Market - Geographical Analysis
Globally, Europe accounts for the leading market for nuclear decommissioning followed by North America and Asia-Pacific. Factors substantiating the market growth in the Europe region include the government support and the growing environmental concerns, prompting the closure of the nuclear power plant.
Asia Pacific nuclear decommissioning market is emerging as one of the lucrative markets on account of several matured nuclear power plants, demanding the nuclear-decommissioning processes dearly.
North America nuclear decommissioning market is expected to grow rapidly during the forecast period due to the presence of numerous nuclear plants in the region which are due for a closure in the view of people and environment safety.
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Nuclear Decommissioning Market - Competitive Landscape
The embryonic market of Nuclear Decommissioning appears to be competitive yet consolidated. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for the leading players.
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