The report, now available on ASDReports, "Nuclear Decommissioning Services Market by Reactor Type (PWR, BWR, & GCR), Strategy (Immediate Dismantling, Deferred Dismantling, and Entombment), Capacity (Up to 800 MW, 801 MW-1,000 MW, and Above 1,000 MW), and Region - Global Forecast to 2021", The nuclear decommissioning services market is projected to grow from an estimated USD 4.84 Billion in 2016 to USD 8.55 Billion by 2021, at a CAGR of 12.1% from 2016 to 2021. Factors such as nuclear accidents and rising political pressure for pre-closure of nuclear power plants are driving the market.
Deferred Dismantling Strategy the fastest growing segment of nuclear decommissioning services
The deferred dismantling segment is expected to grow at the highest CAGR during the forecast period. Following the Fukushima nuclear power plant (Japan) accident, the German government is committed to phase out its nuclear power plants by 2022. Further, the European Union is focusing on developing renewable sources of power generation, and hence, majority of the nuclear power plants in Europe are adopting deferred dismantling strategy for the decommissioning process.
Boiling Water Reactor (BWR) the largest segment in the nuclear decommissioning services market
The BWR reactor segment occupied the largest market share in the nuclear decommissioning services market in 2015. This can be attributed to increase in the number of projects undergoing decommissioning, due to stringent government regulations to phase out nuclear reactors by 2022. Majority of the nuclear power plants in the European region operate on BWRs.
Europe to dominate the market
In this report, the nuclear decommissioning services market has been analyzed with respect to three regions, namely, Europe, North America, and Asia-Pacific. Europe is estimated to dominate the market, owing to factors such as government commitment and stringent regulations to phase out nuclear power plants. In addition, majority of the nuclear plants in the North American region are very old and nearing the phase of decommissioning, creating huge opportunities for nuclear decommissioning services market in the region.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the nuclear decommissioning services market including Areva Group (France), Babcock International Group PLC. (U.K.), Studsvik AB (Sweden), AECOM (U.S.), and Westinghouse Electric (U.S.), among others. These players are trying to penetrate developing economies and are adopting various methods to increase their market share.
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Source: ASDReports - Market Research
Date: Sep 27, 2016