Nuclear Decommissioning Services Market Strong Demand, Growth Opportunity and Forthcoming Development

According to our latest market study on "Nuclear Decommissioning Services Market Forecast to 2027 - COVID-19 Impact and Global Analysis and Forecast By Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Gas Cooled Reactor); Strategy (Immediate Dismantling, Deferred Dismantling, Entombment); Application (Commercial Power Reactor, Research Power Reactor, Prototype); Capacity (Below 100 MW, 100 1,000 MW, Above 1,000 MW); and Geography," the market was valued at US$ 5.82 billion in 2019 and is projected to reach US$ 9.43 billion by 2027; it is expected to grow at a CAGR of 6.3% from 2020 to 2027.

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Key Companies:
AECOM, Ansaldo Energia S.p.A., Babcock International Group PLC, Bechtel Corporation, EnergySolutions, GE Hitachi Nuclear Energy (GEH), Onet SA, Orano, Studsvik AB, Westinghouse Electric Company LLC, Fluor Corporation, NUVIA Group, Northstar Group Services, Inc., Atkins (SNC-Lavalin), PreussenElektra GmbH, NUKEM Technologies, GNS Gesellschaft für Nuklear-Service mbH, Manafort Brothers Inc., Sogin S.p.A., Korea Hydro & Nuclear Power Co. Ltd.

The global nuclear decommissioning services market is poised to surge during the forecast period, owing to the presence of a large number of decommissioning service providers, coupled with the rising number of nuclear power plants attaining the completion of operational life cycle. Europe led the nuclear decommissioning services market in 2018 and 2019 and is expected to continue its dominance during the forecast period. North America and APAC trail Europe in the nuclear decommissioning services market. The European region comprises large number of nuclear power plants that are reaching the respective end of the operational lifespan. This has led respective governments to decommission the operations of the facilities. Germany and France are among the key countries playing crucial roles in the enhancement of nuclear decommissioning services market. The governments of these two countries have announced a decommission plan for several nuclear facilities over the next two years. This factor is showcasing the growth in requirement for decommissioning service providers, which in turn reflects the upward inclination of nuclear decommissioning services market.

Asia Pacific region also consists of a notable number of nuclear facilities, majorly in Japan and South Korea. The Japanese government has announced to phase out 40% to 50% of its nuclear facilities over the next decade. China and India on the other hand, are still maturing in the field of nuclear decommissioning, which holds a promising future for several nuclear decommissioning services market players in the countries and abroad.

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The global nuclear power generation sector is experiencing arise in the numbers of aging infrastructure. At present, several nuclear power facilities are nearing the respective end of the operational lifecycle after generating power for more than three decades. The increase in the number of nuclear power plants that are reaching the phase out period is leading the governments and respective operators to decommission the facilities. This is generating significant demand for decommissioning services, thereby catalyzing the growth of the nuclear decommissioning services market.

Nuclear Decommissioning Services Market Segmentation:
Nuclear Decommissioning Services Market-By Reactor Type
Pressurized Water Reactor
Boiling Water Reactor
Gas Cooled Reactor

Nuclear Decommissioning Services Market-By Strategy
Immediate Dismantling
Deferred Dismantling
Entombment

Nuclear Decommissioning Services Market-By Application
Commercial Power Reactor
Prototype Power Reactor
Research Reactor

Nuclear Decommissioning Services Market -By Capacity
Below100 MW
100- 1,000 MW
Above1,000 MW

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