Westford,USA, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the demand for nuclear decommissioning market has witnessed a remarkable surge, primarily driven by government support in the aftermath of nuclear accidents. Various countries have recognized the importance of safe and efficient decommissioning of nuclear facilities to mitigate potential risks and environmental impacts.
Browse in-depth TOC on the "Nuclear Decommissioning Market"
- Pages - 265
- Tables - 63
- Figures – 75
The increased adoption of renewable energy sources, such as wind and solar power, significantly influences the global nuclear decommissioning market. The demand for nuclear power, along with other traditional energy sources, has decreased as the world increasingly recognizes the importance of transitioning to cleaner and sustainable energy alternatives.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 4.3Billion |
| 2030 Value Projection | USD 6.1Billion |
| CAGR | 5.1% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Nuclear Decommissioning Market
- AECOM
- Ansaldo Energia
- AREVA
- Bechtel
- BHI Energy
- EDF Energy
- EnergySolutions
- Fluor Corporation
- GE Hitachi Nuclear Energy
- GNS Gesellschaft für Nuklear-Service
- Holtec International
- Jacobs Engineering Group
- Magnox Ltd
- NDA Group
- Orano
- Rosatom
- Studsvik AB
- Swedish Nuclear Fuel and Waste Management Company
- Toshiba
- Westinghouse Electric Company
Pressurized Water Reactor (PWR) Segment is Expected to Grow in the Market Due to its Diverse Applications
The pressurized water reactor (PWR) segment emerged as the leading contributor to the nuclear decommissioning market, holding the largest market share. The pressurized water reactor is a widely used nuclear reactor with diverse applications, including electricity generation and propulsion for nuclear submarines and naval vessels.
The markets in North America are witnessing a significant transition as several reactors are rapidly approaching the decommissioning stage in the nuclear decommissioning market. As these reactors near the end of their operational lifespans, there is a projected surge in demand for nuclear decommissioning services in the region.
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Immediate DismantlingSegment is Expected to Dominate the Market Due toits Efficiency
Immediate dismantling has emerged as the dominant approach in the global nuclear decommissioning market, primarily due to its efficiency and ability to free up land for alternative use quickly. This method involves promptly removing radioactive materials and dismantling nuclear facilities soon after they are shut down, enabling decommissioned sites to be released for repurposing or redevelopment.
Regional markets in Europe have emerged as the leader for nuclear decommissioning market worldwide, boasting the largest market share in this industry. One of the key factors driving this dominance is the region's strong commitment to nuclear decommissioning efforts, backed by strict government regulations and policies.
A comprehensive analysis of the major players in the nuclear decommissioning market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Nuclear Decommissioning Market
- In 2022, the Entergy Corporation decided to shut down the nuclear power reactor at Palisades, situated on the shores of Lake Michigan. This nuclear power facility could produce 800MW of electricity. Following the shutdown, the reactor's fuel was carefully removed and transferred to the spent fuel pool for cooling. Once the cooling process is complete, the fuel will be moved to the secure independent spent fuel storage facility on the station grounds. Entergy Corporation aims to complete the decommissioning of the nuclear reactor by 2041, aligning with its long-term business objectives.
- BHI Energy, a prominent power generation and delivery service provider in the United States, experienced significant development in 2022. Westinghouse Electric Company LLC, a renowned name in the nuclear industry, announced signing a deal to acquire BHI Energy.
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Key Questions Answered in Nuclear Decommissioning Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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