Nuclear Decommissioning Services Market Revenue 2019 - 2026 | Top Players Orana Group, AECOM, Babcock International Group Plc, Westinghouse Electric Company LLC, Enercon Services Inc., KDC Contractors Limited, NUVIA Group, Onet Technologies SAS, Sogin S.p

Decommissioning refers to an activity that includes all clean-up of radioactivity and progressive dismantling of the nuclear plant. Decommissioning includes activities such as planning, physical and radiological characterization, facility and site decontamination, dismantling, and material management.

Major players operating in the global nuclear decommissioning services market include Orana Group, AECOM, Babcock International Group Plc, Westinghouse Electric Company LLC, Enercon Services Inc., KDC Contractors Limited, NUVIA Group, Onet Technologies SAS, Sogin S.p.A., and others.

Request PDF Brochure of Report: https://www.coherentmarketinsights.com/insight/request-pdf/2594

Market Dynamics

Aging nuclear power plants is expected to propel growth of the global nuclear decommissioning services market. Several existing nuclear power plants are expected to inevitably close down over the next two decades, as plants are nearing the end of their operational lifespans. Bulk of worldwide retirements are owing to aging fields i.e. the oldest fleet, particularly by the U.S. followed by the European Union (led by France, Germany, and the U.K.), Japan, and Russia. Rate of retirement that is end of life of nuclear power plants is projected in the first half of the 2020s, as reactors built in 1970s are taken off-line, and then again in the 2030s, particularly if life extensions in the U.S. are not re-extended for another 20 years.

The global nuclear decommissioning services market was valued at US$ 171.74 billion in 2018 and is expected to register a CAGR of 7.0% in terms of revenue over the forecast period (2019 – 2027).

Europe accounted for the largest market share in the global nuclear decommissioning services market with a value of US$ 78.48 billion in 2018. Stringent government regulations in Europe to support nuclear decommissioning activities is a major factor driving growth of the market in the region. Europe is projected to become the world’s largest market for decommissioning and decontamination (D&D) in the next five years. Over half of the European Union’s 223 nuclear power plants are due for closure by 2025.

The market in Asia Pacific is expected to witness the fastest growth in the global nuclear decommissioning services market over the forecast period. The ongoing nuclear decommissioning activities and initiatives of the governments in this region to reduce nuclear energy are major factors driving growth of the nuclear decommissioning services market in Asia Pacific. For instance, in May 2018, the government of Taiwan announced plans to diversify the energy mix and replace nuclear power with clean energy such as wind and solar power.

Request Customization Of Research Report @ https://www.coherentmarketinsights.com/insight/request-customization/2594

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.