Nuclear Decommissioning Services Market Top Players - Areva Group (Orano), EDF-CIDEN, Enercon Services Inc., EnergySolutions, GD Energy Services-Nuclear.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Nuclear Decommissioning Services Market Size, Share & Trends Analysis Report By Application (Immediate Dismantling, Deferred Dismantling, Entombment), Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Gas Cooled Reactor, Others (Pressurized Heavy Water Reactor)), Capacity (Up To 800 MW, 800 MV-1,000 MW, Above 1,000 MW)- Market Outlook And Industry Analysis 2031"

The Global Nuclear Decommissioning Services Market is valued at US$ 7.6 Bn in 2023, and it is expected to reach US$ 10.9 Bn by 2031, with a CAGR of 4.88% during the forecast period of 2024-2031.

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A part of the energy sector, the Nuclear Decommissioning Services Market is focused on the dismantling of nuclear facilities at the end of their service life in a safe manner. Increasing focus is observed towards sustainability and safety, and rising demand for decommissioning services to efficiently manage aging nuclear infrastructure and ensure responsible protection of the environment. There are various stages of decommissioning nuclear facilities, such as planning, fuel removal, decontamination, dismantling, and site restoration. These stages eliminate radiological hazards and ensure public health and environmental protection. The services involved in this sector range from project planning and radiological assessment to waste disposal, demolition, and the restoration of the environment- all of which play a significant role in safely managing the intricate decommissioning process.

Nuclear decommissioning services include aging nuclear power plants, research reactors, and other legacy facilities that have to be decommissioned for being technologically outmoded or contaminated. Decommissioning approaches include immediate dismantling where the site is restored rapidly and removes long-term radioactive risks as soon as possible, deferred dismantling where facilities are held in safe storage before, they are dismantled for natural radioactive decay, and entombment-the securing of radioactive materials if other methods are unavailable. Decommissioning services offer a framework for ensuring regulatory compliance and help preserve the public environment, prevent harm to the environment, and benefit local communities through renewed use of the land for new facilities or green spaces, turning nuclear decommissioning into an important element in the sustainable management of infrastructure.

List of Prominent Players in the Nuclear Decommissioning Services Market:
• AECOM Technology Corporation
• Babcock International Group PLC
• Bechtel Group Inc.
• Fluor Corporation
• Studsvik AB
• Westinghouse Electric Company LLC
• Ansaldo Nes (Nuclear Engineering Services Limited)
• Areva Group (Orano)
• EDF-CIDEN
• Enercon Services Inc.
• EnergySolutions
• GD Energy Services-Nuclear
• KDC Contractors Limited
• Nuvia Group
• Onet Technologies
• Sogin S.P.A (Società Gestione Impianti Nucleari)

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Market Dynamics:
Drivers-
The Nuclear Decommissioning Services Market is experiencing strong growth driven by aging nuclear infrastructure, a global shift towards renewable energy, stringent regulatory standards, public safety concerns, and technological developments. With the number of decommissioning reactors, particularly across Europe and North America, reaching the end of their service lives, decommissioning expertise has increased its demand with the disassembly of these units safely. Transition to renewables decreases dependence on nuclear power, and operators decommission their old plants. Stiff regulatory standards and growing public concerns in the wake of incidents like Fukushima make incentives toward timely decommissioning, given the risk of safety and environmental impacts. Upgrades in digitalization, robotics, and machine learning enhance the safety and efficiency of decommissioning at reduced costs and, therefore, become more attractive for the operators.

Challenges:
The Nuclear Decommissioning Services Market faces challenges from high costs, stringent regulations, and complex waste management. Decommissioning is expensive, often with budget overruns, while regulatory demands increase project timelines and expenses. Managing radioactive waste, particularly securing long-term storage, remains difficult due to regulatory and public concerns.

Regional Trends:
France's 56 operable reactors, contributing 61,370 MWe, highlight Europe's significant role in the global Nuclear Decommissioning Services Market. Most of these reactors, especially those in France, Germany, and the UK, are approaching the end of their life and require decommissioning services to ensure safe dismantling of aged facilities. Since 17% of France's electricity is produced using recycled nuclear fuel, the decommissioning of these reactors is of extreme importance to nuclear waste management and European-specific regulation. European government policies continue to spur the market into renewable sources of energy. With that and with the need to upgrade to new plants, governments are even more motivated to decommission old plants that do not operate very efficiently anymore. This can be paired up with aging infrastructure and because of strict regulations, along with government support for renewable energy transitions, leading to strong demand for specialized nuclear decommissioning services throughout Europe.

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Recent Developments:
• In October 2022, The Korean government has announced the construction of its first nuclear decommissioning research institute in Ulsan, set to be completed by 2026. The institute will focus on developing technologies for the safe shutdown of nuclear power plants and serve as a comprehensive platform for advancing radioactive waste analysis.
• In July 2022, Westinghouse Electric Company has secured a $100 million contract with Norwegian Nuclear Decommissioning (NND) to plan the decommissioning of Norway's two nuclear research reactors in Halden and Kjeller. The three-year agreement includes options extending up to six years.

Segmentation of Nuclear Decommissioning Services Market-
By Application:
• Immediate Dismantling
• Deferred Dismantling
• Entombment
By Reactor Type:
• Pressurized Water Reactor
• Boiling Water Reactor
• Gas Cooled Reactor
• Others (Pressurized Heavy Water Reactor)
By Capacity:
• Up To 800 MW
• 800 MV-1,000 MW
• Above 1,000 MW
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.