Press release
Nuclear Decommissioning Services Market Soars to $9.84 Billion in 2025, Propelled by Adoption of Renewable Energy and Industry Expertise
Nuclear Decommissioning Services Global Market Share
What Is The Projected Market Size Of The Global Nuclear Decommissioning Services And Its Growth Rate?
The nuclear decommissioning services market has seen explosive growth in recent years:
- The projected market size will grow from $8.31 billion in 2024 to $9.84 billion in 2025, boasting a CAGR of 18.5%.
- Factors such as public awareness, industry expertise, government policies, and global nuclear trends have all contributed to this growth.
- The market is forecasted to continue its growth spurt, anticipated to reach $13.2 billion in 2029 with a CAGR of 7.6%.
- This growth is attributed to pressing issues such as legacy site remediation, risk management, environmental concerns, waste management solutions, and human capital.
What Is Driving The Growth In The Nuclear Decommissioning Services?
Increased adoption of renewable energy is significantly contributing to the growth of the nuclear decommissioning services market. Renewable energy sources and their swift replenishment rates are proving to be more appealing than their alternative - nuclear energy, which is non-renewable. Nuclear decommissioning services help transition from nuclear power plants to more renewable sources. For instance, in December 2022, the International Energy Agency reported that global renewable power capacity is expected to grow by 2 400 gigawatts over the 2022-2027 period, a 30% increase from the 2021 forecast. This surge underlines the rapid shift in government policies towards renewable energy. This elevated adoption of renewable sources is anticipated to drive the growth of the nuclear decommissioning services market.
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Who Are the Key Players Driving Nuclear Decommissioning Services Growth?
The nuclear decommissioning services market is driven by key players such as:
- AECOM Technology Corporation
- Babcock International Group PLC
- Westinghouse Electric Company LLC
- Studsvik AB
- NUVIA Group
- Onet Technologies SAS
- Sogin SpA
- GE Hitachi Nuclear Energy
- Bechtel Group Inc.
What Are The Key Trends In The Nuclear Decommissioning Services Market?
Key trends driving the nuclear decommissioning services market include:
- Aging nuclear facilities
- Setting stringent regulatory standards
- Developing cost-effective solutions
- Navigating the complexity of decommissioning
- Shifting public safety concerns.
What Are The Segments Of The Global Nuclear Decommissioning Services?
The nuclear decommissioning services market is segmented by
1) Type: Pressurized Water Reactor (PWR), Boiling Water Reactor (BWR), Gas Cooled Reactor (GCR), Other Types
2) Capacity: Up to 800 MW, 800 MW-1000 MW, Above 1000 MW
3) Application: Immediate Dismantling, Deferred Dismantling, Entombment
Which Region Leads The Nuclear Decommissioning Services Market?
Europe leads the nuclear decommissioning services market, taking the largest market share in 2024. The market report also covers other regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Nuclear Decommissioning Services Global Market Report?
- Market Size Analysis: Analyze the Nuclear Decommissioning Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Nuclear Decommissioning Services Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Nuclear Decommissioning Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Nuclear Decommissioning Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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