Nuclear Facility Decommissioning Solution Industry is Expected to Reach $8 Billion by 2028 -Babcock Cavendish Nuclear, Enercon Services Inc., Fluor Corporation, James Fisher & Sons PLC, WS Atkins PLC, NorthStar Group Services Inc., AECOM, Studsvik AB, GE

The global nuclear decommissioning services market size was valued at USD 6.05 billion in 2021 and is projected to register a CAGR of 5.1% during the forecast period Global Forecast to 2030" valuation is poised to reach USD 8212.32 Million by 2032

The worldwide shutdown of older nuclear reactors owing to aging and the transitioning trend toward renewable sources of energy due to minimal environmental impact is likely to be the major forces driving the growth of the market in the coming years. Due to the Covid-19, the nuclear sector faced a few challenges such as unavailability of the workers, restrictions on the number of on-site workers, and disruption in supply chains. Travel restrictions and government guidelines had an adverse impact on the progress of some nuclear decommissioning projects, owing to the limited availability of staff and experts. The end dates of project completion faced the risk of extension.

In addition, the Global Nuclear Facility Decommissioning Solution market study also covers several factors such as market status, key market trends, growth forecast, and growth opportunities. Furthermore, we analyze the challenges faced by the Global Nuclear Facility Decommissioning Solution market in terms of global and regional basis.

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Key Players Mentioned in the Global Nuclear Facility Decommissioning Solution Market Research Report: Babcock Cavendish Nuclear, Enercon Services Inc., Fluor Corporation, James Fisher & Sons PLC, WS Atkins PLC, NorthStar Group Services Inc., AECOM, Studsvik AB, GE Hitachi Nuclear Services, Areva S.A., Bechtel Group Inc., Westinghouse Electric Company

Global Nuclear Facility Decommissioning Solution Market Segmentation:

Nuclear Facility Decommissioning Solution Market Types:

Pressurized Water Reactor Decommissioning, Boiling Water Reactor Decommissioning, Others.

Nuclear Facility Decommissioning Solution Market Applications:

Below 100 MW, 100 - 1000 MW, Above 1000 MW

Reactor Type Insights
Nuclear reactors can be categorized into two key types: water-cooled reactors and gas-cooled reactors. Water-cooled reactors include pressurized water reactors (PWR), pressurized heavy water reactors, and boiling water reactors. Pressurized water reactors held the maximum share in the global nuclear decommissioning services market in 2021.

PWRs are highly preferred by industry operators due to the factors such as a high level of stability and ease of operation. This segment is also projected to exhibit the strongest growth rate during the forecast period due to its widespread use and installation.

Regional Insights
Europe accounted for the largest share of 47.0% in the nuclear decommissioning services market in 2021. It is also likely to be the second-fastest-growing region after North America, with a CAGR of 5.3% during the forecast period. It was valued at USD 2.84 billion in 2021 and is anticipated to be valued at USD 4.49 billion by 2030.

The market in North America was valued at USD 1.78 billion in 2021 and the region is anticipated to register the fastest growth of 5.5% during the forecast period. The U.S., which is a major market in the region, is likely to witness the shutdown of several reactors by 2025. The rise of nuclear decommissioning services in Japan and other Asian countries is likely to spur the market in Asia-Pacific during the forecast period.

Key Companies & Market Share Insights
In June 2019, AECOM signed an alliance agreement with Japan-based Toshiba Corporation, a multinational conglomerate, to work on nuclear reactor decommissioning in Japan. It aims to offer decommissioning services for nuclear reactors and facilities of Japanese government organizations and commercial power utilities with this partnership.

Providers of nuclear decommissioning services continue to focus on innovation and technological advancements in dismantling techniques to deliver enhanced performance. Such developments, coupled with competitive pricing, are likely to assist them in increasing their market share during the forecast period. Companies are investing profoundly in research and development to overcome barriers faced while decommissioning nuclear facilities.

COVID-19 Analysis
The unique coronavirus has completely upended the world, disrupting corporate operations, halting industries, and having an effect on the entire global economy. The COVID-19 epidemic has negatively impacted a variety of operations in numerous industries. Due to supply chain interruptions and a lack of labour, the energy & power generation sector has been severely impacted. As a result of government-imposed lockdown measures, nuclear decommissioning operations have been suspended in a few countries during this crisis, where different nuclear decommissioning service providers have been forced to operate with reduced manpower. For instance, nuclear power plant-related activities in European nations have been terminated, necessitating the necessity for decommissioning services.

The objective of the studies:

- To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the global Nuclear Facility Decommissioning Solution Market.

-Provide information on factors affecting the growth of the market. To analyze the Nuclear Facility Decommissioning Solution Market based on various factors- price analysis, supply chain analysis, Gate Five force analysis, etc.

-Provide historical and forecast revenue of market segments and sub-segments for four major geographies and their countries - North America, Europe, Asia, Latin America and Rest of the World.

-Provide country level market analysis relative to current market size and future prospects.

- To provide country level market analysis for the segment by application, product type and sub-segments.

-Provide a strategic profile of the major market players, by deeply analyzing their core competencies and drawing a competitive landscape for the market.

- Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Nuclear Facility Decommissioning Solution Market.

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Europe to Head Nuclear Decommissioning Market
The nuclear decommissioning market has been geographically divided into four regions: Europe, North America, Asia Pacific (APAC), and the MEA. Europe is probably going to dominate this market for nuclear decommissioning during the predicted period. The region's share of the global nuclear decommissioning market is growing as a result of rising government support, rising environmental concerns that have led to the closing of the nuclear power plants in France, Lithuania, the UK, & Germany, rising demand in Germany, public concerns, the existence of stringent government regulations to control the dismantling process, and an increase in the number of nuclear power plants in South Korea and Japan.

The region has experienced exceptional market growth as a result of stringent government rules that support nuclear-decommissioning activities. As a result of its extreme reliance on nuclear energy for the production of electricity, Europe is attempting to diversify the energy mix by lowering the share of nuclear energy generation in total electricity production from 75% to 50% by the year 2025. These reasons suggest that the nuclear decommissioning business will expand significantly over the next few years. Europe has the largest market for the nuclear decommissioning because of the region's shift toward clean energy that has resulted in the decommissioning of numerous nuclear reactors. The main nations operating within the region are Germany, France, and the UK.

APAC to Have Admirable Growth in Nuclear Decommissioning Market
APAC is predicted to hold the greatest growth in the global nuclear decommissioning market during the forecast period. The presence of several mature nuclear power plants in South Korea and Japan, which place a high demand on nuclear decommissioning procedures, as well as the growing usage of nuclear decommissioning, the ongoing nuclear decommissioning activity, and government initiatives for reducing nuclear energy are all contributing to the region's nuclear decommissioning market's growth. In recent years, APAC has become a formidable competitor in the worldwide nuclear decommissioning industry. The region has a large number of nuclear power stations that are advanced, which increases the need for nuclear-decommissioning procedures.

Additionally, the region's nuclear-decommissioning business is expanding as a result of an increase in accidents and political pressure to shut down nuclear power reactors before they are ready. South Korea and Japan are the nations in the Asia-Pacific region that have recently experienced nuclear decommissioning. Given that nuclear reactors & power plants will soon reach the end of their useful lives, China and India may present opportunities for the nuclear decommissioning business.

Nuclear Decommissioning Market Competitive Analysis

Key players have incorporated several strategies to stay at the forefront such as mergers and acquisitions, geographic expansions, new product launches and development, partnerships, contracts, collaborations, joint ventures, as well as different research & development activities.

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