Nuclear Decommissioning Market Research Report -Forecast to 2030

Nuclear Decommissioning Market Information Report By Reactor Type (PWR, BWR and GCR), by Strategy (Immediate, Deferred Dismantling and Others), By Capacity (up to 800MW, 801MW-1000MW, above 1000MW) - Global Forecast to 2030

ID: MRFR/E&P/1886-CR | February 2020 | Region: Global | 100 Pages         

Nuclear Decommissioning Market

Nuclear Decommissioning Market is projected to be worth USD 6,050 Million, registering a CAGR of 5.1% during the forecast period (2022-2030).

Segmentation

By Reactor Type PWR BWR GCR
By Strategy Immediate Deferred Dismantling Others
By Capacity Up to 800MW 801MW-1000MW Above 1000MW

Key Players

  • GD Energy ServicesSpain)
  • Enercon Services Inc. (Germany)
  • EDF-CIDEN (U.K.)
  • Nuvia Group (France)
  • EnergySolutions (U.S.)
  • Westinghouse Electric (U.S.)
  • AECOM (U.S.)
  • Studsvik AB (Sweden)
  • Babcock International Group PLC. (U.K.)

Drivers

  • Increasing sensitivity towards environmental issues
  • Public Safety Concerns to Bolster Market Growth
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Nuclear Decommissioning Market share is projected to be worth USD 6,050 Million, registering a CAGR of 5.1% during the forecast period (2022-2030).


Nuclear Decommissioning Market Overview:


Concerns about public safety as a result of the dangers of nuclear accidents are likely to boost the worldwide nuclear decommissioning market size throughout the forecast period. The strong growth is due to the increase in nuclear accidents. Additional factors contributing to the global market value include the increasing number of nuclear reactors approaching operational retirement, the falling price of renewable power generation sources such as solar and wind, increasing political pressure for nuclear power plant pre-closure, growing government support, increasing concerns about sustainability, the trend toward renewable energy, favorable government regulations, and initiatives.


Europe, North America, Asia Pacific (APAC), the Middle East, and Africa make up the global market for nuclear decommissioning. Over the projection period, Europe is likely to hold the largest share of the nuclear decommissioning market. Growing government support, rising environmental concerns that have led to the closure of nuclear power plants in Lithuania, France, the United Kingdom, and Germany, rising demand in Germany, public concerns, the presence of strict government regulations to regulate the decommissioning process, and the growing number of nuclear power plants in South Korea and Japan are all contributing to the region's global nuclear decommissioning market share.



  • On Oct. 10, 2022, the nuclear decommissioning authority (NDA) and the national decommissioning center (NDC) in the UK announced their partnership to conduct and share research inputs on decommissioning nuclear and oil & gas sectors. O&G facilities include various simulating offshore subsea operations in real-time to remove or install energy infrastructure.



  • Under the three-year partnership, researchers from both organizations will work together on the areas of mutual interest, including decarburization of decommissioning activities, economic impacts, cost benchmarking, and remote operations in hazardous environments. The NDC is also partnering with the University of Aberdeen, Net Zero Technology Centre (NZTC), and the oil & gas industry. 


Nuclear Decommissioning Market Key Players


Prominent players profiled in the global nuclear decommissioning market report include GD Energy Services (Spain), Enercon Services, Inc. (Germany), EDF-CIDEN (U.K.), Nuvia Group (France), EnergySolutions (U.S.), Westinghouse Electric (U.S.), AECOM (U.S.), Studsvik AB (Sweden), Babcock International Group PLC. (U.K.), and Areva Group (France).


Industry News


With the existence of multiple important competitors, the worldwide nuclear decommissioning industry is extremely fragmented and competitive. These major firms have used a variety of techniques to diversify their portfolios.


The Fukushima College robot has earned the top prize for nuclear decommissioning in January 2021. The mehikari robot was praised for its speed as well as its capacity to use multiple approaches to retrieve simulated debris the size of a plant, the nuclear disaster site triggered by a large tsunami and earthquake.


In January 2021, Japan and the United Kingdom are collaborating to develop new nuclear technology, including long-reach robotic arms to aid in the decommissioning of old nuclear power stations.


Seoul completed the energy mix for nuclear-decommissioning investments in December 2020.


Nuclear Decommissioning Market Dynamics




  • Drivers




Public Safety Concerns to Bolster Market Growth


Increasing concerns for public safety owing to hazardous consequences of nuclear accidents may bolster global nuclear decommissioning market size in the forecast period.


Additional factors adding to the global nuclear decommissioning market value include the growing number of nuclear reactors reaching operational retirement, fall in the price of renewable power generation sources such as solar and wind, growing political pressure for pre-closure of nuclear power plants, growing support from the government, increasing concerns about sustainability, the trend to transition toward renewable energy, favorable government regulations, and initiatives.




  • Opportunities




Sensitivity to Environmental Issues to Offer Robust Opportunities


The increasing sensitivity towards environmental issues is likely to offer robust opportunities to key players in the future. 



  • Restraints


Price Challenges to Act as a Market Restraint 


The price challenges related to the disposal of radioactive nuclear waste, decommissioning, and high dependency on nuclear power may act as a market restraint in the forecast period.



  • Challenges


Adoption of Alternative Energy Sources to Act as a Market Challenge 


The growing adoption of alternative sources of energy like solar power and gas-based may act as a major market challenge for industry players in the future.



  • On Nov.01, 2022, Aecon-Wachs, a leading provider of solutions required by the construction, maintenance, and decommissioning of power plants, announced that it has been selected for nuclear plant decommissioning and renovation work for the Savannah River Plutonium Processing Facility. Aecon-Wachs provides single-source solutions for nuclear industry construction, refurbishment, maintenance, and decommissioning. Two contracts from Savannah River Nuclear Solutions to complete decommissioning work at the Savannah River Site (SRS) worth US$100 MN.


Nuclear Decommissioning Market Segmentation


Global Nuclear Decommissioning Market has been bifurcated based on Capacities, Strategies Dismantling, and Reactor Types.


PWR Segment to Lead the Market 


By reactor types, the global market of nuclear decommissioning is segmented into GCR, BWR, PWR, and others. Of these, PWR segment will lead the market over the forecast period.


Immediate Dismantling Segment to Dominate the Market


By strategies dismantling, the global market of nuclear decommissioning is segmented into deferred dismantling, immediate dismantling, and others. Of these, the immediate dismantling segment will dominate the market over the forecast period for the early phase-out of nuclear power plants in Europe, particularly in Italy and Germany.


Up to 800MW Segment to Spearhead the Market


By Capacities, the global market of nuclear decommissioning is segmented into above 1000MW, 801MW-1000MW, and up to 800MW. Of these, the up to 800MW segment will spearhead the market over the forecast period for the pre-closure of nuclear power plants the capacities of which are under 800 MW in the European region.



  • On Nov.01, 2022, Tepco Holdings Co Ltd. and Hitachi Zosen Co Ltd. (a Hitachi Shipbuilding company) announced a joint venture (JV) to produce used fuel storage. These companies would establish a plant to develop and manufacture core technologies & products for decommissioning, such as fuel casks and debris storage containers. 



  • In April, a new company, Toso Mirai Manufacturing, was established to balance reconstruction and decommissioning. Toso Mirai Manufacturing will build a decommissioning plant, contributing to the safe & steady nuclear power decommissioning, including the planned production of spent fuel casks and fuel debris storage containers.


Nuclear Decommissioning Market Regional Analysis


Europe to Have Lions Share in Nuclear Decommissioning Market


Geographically, the the global market of nuclear decommissioning has been segmented into Europe, North America, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Among these, Europe is likely to have the lions share in the nuclear decommissioning market over the forecast period. Increasing support from the government, growing environmental concerns that prompt the closure of nuclear power plants in Lithuania, France, the UK, and Germany, growing demand in Germany, public concerns, the presence of strict government regulations to regulate the dismantling process, and the growing number of nuclear power plants in South Korea and Japan, are adding to the global market share in the region.


APAC to Grow at Fastest Pace


The the global market of nuclear decommissioning in the APAC region is predicted to grow at the fastest pace over the forecast period. The presence of several matured nuclear power plants that dearly demands the nuclear decommissioning processes in South Korea and Japan, escalating use of nuclear decommissioning, ongoing nuclear decommissioning activities, and government initiatives to reduce nuclear energy are adding to the global nuclear decommissioning market growth in the region.



  • On Oct. 31, 2022, The Korean government announced that it has begun the construction of its first nuclear decommissioning research institute in Ulsan by 2026. The institute will develop technologies to ensure the safe suspension of nuclear power plants and function as a comprehensive platform to advance radioactive waste analysis.



  • The Ministry of Trade, Industry, and Energy stated that about US$219 MN would be spent to build the institute, spreading over a 22,500-square-meter. Also, Korea Hydro & Nuclear Power (KHNP) will be spending funding received from the municipalities of Busan, Ulsan, Gyeongju, and North Gyeongsang Province.



  • On Oct. 11, 2022, The Norwegian government proposed increased funding for nuclear-decommissioning projects in the country. The projects to increase the allocation for handling nuclear waste and nuclear facilities worth a total of US$15.7m in 2023. The Directorate for Radiation Protection & Nuclear Safety (DSA) is also being given increased resources. Additionally, DSA will be strengthened to process the license application for Norwegian nuclear decommissioning (NND), allowing the NND to continue the planned development of the agency.


North America to Have Notable Growth in Nuclear Decommissioning Market


The global nuclear decommissioning market in North America is predicted to have notable growth over the forecast period. The presence of many nuclear plants in the region that are going to close down for the safety of the environment and people, constant technological advances, support from the government to phase out nuclear plants, significant expansion, and growing awareness regarding environmental protection are adding to the global market growth in the region. On the contrary, strict government regulations may limit the expansion of the market to some extent during the forecast period.


Nuclear Decommissioning Market Competitive Landscape


The global nuclear decommissioning market is highly fragmented and competitive in nature with the presence of several key players. These key players have encompassed several strategies to widen their portfolios as well as strengthen their position in the market, such as mergers and acquisitions, partnerships and collaborations, acquisitions, strategic alliances, new product launches, and others.


Market Segments



  • By Reactor Types 

    • PWR

    • BWR

    • GCR

    • Others



  • By Strategies Dismantling 

    • Immediate Dismantling 

    • Deferred Dismantling 

    • Others



  • By Capacities 

    • Up to 800MW

    • 801-1000MW

    • Above 1000MW



  • By Region 

    • North America

    • Europe

    • The Asia Pacific (APAC)

    • Rest of the World (RoW)




Nuclear Decommissioning Market Report Scope 


The nuclear decommissioning market report by Market Research Future throws light on the current trends and niches in the industry. The report also lays emphasis on the various market drivers, opportunities, market restraints, and challenges, as well as offers insights for the forecast period. It also throws light on the different market segments for a comprehensive understanding of the reader.


COVID-19 Analysis


The novel coronavirus has turned the world upside down, putting industries on halt, stopping business activities, and having impacted the global economy at large. The COVID-19 pandemic has weakened different activities across different industries. The energy and power generation industry has been hit hard owing to supply chain disruptions and limited manpower. During this crisis, various nuclear decommissioning service players have operated with limited manpower in various countries, while in a few countries, the nuclear decommissioning activity has been put on hold due to lockdown measures imposed by the government. The European countries for instance, have been exercising termination of activities related to nuclear power plant, thus needing decommissioning services. A couple of nuclear facilities ended operation in 2019 due to political concerns or the operational lifecycle reaching an end. In Europe, the maximum number of COVID cases has been reported in Italy, the UK, Russia, Germany, and France. The nuclear decommissioning services market in France was hit the most as the country has terminated its age-old nuclear power plant like the Fessenheim nuclear power plant in the early 2020 and is yet to begin its decommission activities. This is likely to impact the nuclear decommissioning market revenue.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 6,050 Million
  CAGR   5.1% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Reactor Type, Strategy and Capacity
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   GD Energy ServicesSpain), Enercon Services, Inc. (Germany), EDF-CIDEN (U.K.), Nuvia Group (France), EnergySolutions (U.S.), Westinghouse Electric (U.S.), AECOM (U.S.), Studsvik AB (Sweden), Babcock International Group PLC. (U.K.), and Areva Group (France)
  Key Market Opportunities   Increasing sensitivity towards environmental issues
  Key Market Drivers   Increasing concerns for public safety


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Frequently Asked Questions (FAQ) :

Expected CAGR of the industry is 5.1%.

Estimated market size will be USD 6,050 Million till 2030.

Top key players operating in the market are GD Energy ServicesSpain), Enercon Services, Inc. (Germany), EDF-CIDEN (U.K.), Nuvia Group (France), EnergySolutions (U.S.), Westinghouse Electric (U.S.), AECOM (U.S.), and others.

Key opportunity for the industry is increasing sensitivity towards environmental issues.