PUBLISHER: The Business Research Company | PRODUCT CODE: 1507993
PUBLISHER: The Business Research Company | PRODUCT CODE: 1507993
Nuclear decommissioning services encompass a range of activities aimed at safely dismantling and managing nuclear facilities at the end of their operational life. These services involve planning, physical and radiological characterization, decontamination, dismantling, waste management and environmental remediation.
The nuclear decommissioning services market consists of sales, by entities (organizations, sole traders and partnerships), of nuclear decommissioning services that ensure the safe, efficient and environmentally friendly decommissioning of nuclear facilities.
The global nuclear decommissioning services market was valued at $3,632.00 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 13.0%.
Public Opposition To Nuclear Energy
The increase in public opposition to nuclear energy fueled the growth of the nuclear decommissioning services market during the historic period. Growing public concerns regarding nuclear safety and environmental risks have pushed governments and energy firms to retire aging nuclear plants. Consequently, demand for decommissioning services surged to safely dismantle and decontaminate these facilities. This opposition also drove stricter regulations, necessitating specialized expertise for compliance, thus boosting demand for professional decommissioning services. For instance, in September 2022, according to a recent survey conducted by the Bundesamt fur Strahlenschutz (BfS), a Germany-based Federal Office for Radiation Protection, 63% of Germans expressed significant concern regarding the potential risk of radioactive exposure from nuclear power plant accidents. Additionally, in May 2022, according to Gallup, Inc., a US-based multinational analytics and advisory company, opinions on incorporating nuclear energy into the electricity mix were split, with 51% supporting it and 47% opposing it in the United States. This represents a shift from three years ago, when both camps were evenly split at 49% and from 2016 when the majority (54%) were against nuclear power. Therefore, public opposition to nuclear energy drove the growth of the nuclear decommissioning services market.
Introduction Of New Methods For Dismantling Nuclear Reactors To Save Costs
Companies in the nuclear decommissioning services market are increasing their focus on introducing new methods to dismantle nuclear reactors to sustain their position in the nuclear decommissioning services market introducing new methods to dismantle nuclear reactors to sustain their position in the nuclear decommissioning services market. For example, in February 2023, Orano, a US-based nuclear energy company, introduced a patented new method for dismantling and segmenting shutdown U.S. nuclear reactors. This "Optimized Segmentation" process, implemented at the Crystal River 3 accelerated decommissioning project, significantly enhances overall performance in terms of safety, schedule and cost. The process involves cutting up everything inside the reactor vessel and then repacking the low-level radioactive waste into the vessel before cutting the component into three large pieces for transportation and disposal. This innovation reduces the normal 80+ low-level waste shipments to just three transports, thereby minimizing community impact and enhancing safety and cost performance.
The global nuclear decommissioning services market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 26.87% of the total market in 2022.
Nuclear Decommissioning Services Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global nuclear decommissioning services market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for nuclear decommissioning services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The nuclear decommissioning services market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider nuclear decommissioning services market; and compares it with other markets.