Nuclear Decommissioning Services market led by exposure suits segment growing at 6.3 % CAGR to 2027

Posted by kartik joshi on October 7th, 2022

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. The scope of the nuclear decommissioning services market study involves understanding the factors contributing to the growth of the various nuclear decommissioning services market; it also includes estimating and forecasting the revenues, and conducting the market size analysis, along with spotting significant market players and their key developments.

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Nuclear power plants play a crucial role in the North American electricity generation sector. The US has 98 nuclear power plants across 30 states, while Canada has 19, followed by Mexico with 2 nuclear power plants. These countries depend heavily on nuclear power generation; however, the US and Canadian governments have plans to decommission some of the nuclear power plants as a result of increasing environmental concerns. A total of 104 nuclear power plants are in the phase of decommissioning, the US leading with 86 counts followed by Canada with 18. The decommissioning of these plants is set to be executed through 2040. As of 2017, a total of 10 commercial nuclear reactors in the United States have been successfully decommissioned, and another 20 US nuclear reactors are currently in different stages of the decommissioning process.

The nuclear decommissioning services market comprises of several well-established companies as well as financially balanced players. The key companies operating in the nuclear decommissioning services market include; AECOM, Ansaldo Energia, Babcock International Group Plc., Betchel Corporation, EnergySolutions, GE Hitachi Nuclear Energy, Onet SA, Orano, Studsvik AB, Westinghouse Electric Company LLC, Sogin S.p.A, Fluor Corporation, Nuvia Limited, Northstar Group Services, Inc., Atkins, PreussenElektra GmbH, NUKEM Technologies, GNS Gesellschaft für Nuklear-Service, Manafort Brothers Incorporated, and Korea Hydro & Nuclear Power, among others. Few of the important market initiatives and contracts developments from the market are mentioned below: 

News

Ansaldo Nucleare won 10 million Euro Framework Contract awarded by the European Commission. Under this contract, Ansaldo Nucleare stands for around 40% of total value, aiming at an assessment of the nuclear fusion power plant physics and technology system architecture, overall configuration and system engineering processes.

Cooperation agreement among Ansaldo Energia, State Power Investment Corporation, Shanghai Electric Group. Under this agreement, the three parties will take benefits of their respective resources and capabilities to carry out pragmatic cooperation in four areas, including, decommissioning and waste, nuclear power market development, R&D design & engineering construction, operation management & lifecycle service

AECOM signed an agreement with Toshiba for performing nuclear decommissioning services in Japan. The alliance was aimed to offer complete services to the Japanese government organizations and commercial power utilities which plan to decommission their nuclear reactors and nuclear facilities.

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