Nuclear Power Reactor Decommissioning Market Size 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Nuclear Power Reactor Decommissioning Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $11.29 billion In 2028 At A CAGR Of 11.9% :

The nuclear power reactor decommissioning market size has grown rapidly in recent years. It will grow from $6.39 billion in 2023 to $7.2 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to aging infrastructure, regulatory landscape, public perception.

The nuclear power reactor decommissioning market size is expected to see rapid growth in the next few years. It will grow to $11.29 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to global energy transition, economic factors, government policies, safety and security concerns. Major trends in the forecast period include technological innovation, rise of robotics and automation, collaboration and partnerships, focus on waste management.

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Nuclear Power Reactor Decommissioning Market Major Segments
The nuclear power reactor decommissioning market covered in this report is segmented -

1) By Reactor Type: Pressurized Water Reactor, Pressurized Heavy Water Reactor, Boiling Water Reactor, High-temperature Gas-cooled Reactor, Liquid Metal Fast Breeder Reactor, Other Reactor Types
2) By Capacity: Below 100 MW, 100-1000 MW, Above 1000 MW
3) By Application: Commercial Power Reactor, Prototype Power Reactor, Research Reactor

Key Driver - Environmental Concerns Fueling Growth In Nuclear Power Reactor Decommissioning Market

The growing sensitivity towards environmental issues is expected to propel the growth of the nuclear power reactor decommissioning market going forward. Environmental sensitivity refers to the growing awareness of environmental issues. Nuclear power plants (NPPs) are used to produce carbon-free electricity due to their superior reliability, enormous clean-air compliance value, and large capacity for power generation. Decommissioning is the process of removing nuclear fuel from a nuclear power plant and assisting in the termination of operating licenses. For instance, according to the Government of Canada, in October 2021, the Canadian government is working to develop resources and improve environmental quality, with the objective of reducing carbon emissions by 30% by 2030 and reaching net-zero emissions by 2050. Moreover, in May 2021, the United Kingdom announced £166.5 million ($206.61 million) in financing to support the development of green technology that would reduce carbon emissions. Therefore, growing sensitivity towards environmental issues is driving the growth of the nuclear power reactor decommissioning market.

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Prominent Trend - Competitive Advantage Through New Nuclear Facilities In The Decommissioning Market

Major companies operating in the nuclear power reactor decommissioning market are increasing their focus on introducing new nuclear facilities to gain a competitive edge in the market. Nuclear facilities refer to modern infrastructure and installations designed for the generation of nuclear energy. For instance, in April 2023, according to the International Atomic Energy Agency (IAEA), an Austria-based intergovernmental organization, the United Arab Emirates (UAE) recently launched its first nuclear power plant, the Barakah nuclear power plant, which is expected to provide up to 25% of the country's electricity when it becomes fully operational in the coming years. The plant is the first in the UAE and the Arab world and is part of the country's efforts to diversify its energy mix and reduce its carbon emissions. The Barakah nuclear power plant has four reactors with a total capacity of 5,600 MW, equivalent to around 25% of the UAE's peak demand.

Nuclear Power Reactor Decommissioning Market Players
Major companies operating in the nuclear power reactor decommissioning market report are Babcock International Group PLC, GE Hitachi Nuclear Energy LLC, Fluor Corporation, Westinghouse Electric Company, AECOM Technology Corporation, NorthStar Group Services Inc., Studsvik AB, Bechtel Group Inc., James Fisher and Sons PLC, Orano Group, WS Atkins PLC, Enercon Services Inc., Areva S. A., SNC Lavalin Infrastructure Pvt. Ltd., Tokyo Electric Power Company Holdings Incorporated, Nuvia Group Ltd., Jacobs Engineering Group Inc., NAC International Inc., Nukem Technologies GmbH, Global Dominion Access S. A., Holtec International Inc., EnergySolutions LLC, Deep Isolation Inc., Waste Control Specialists LLC, Empresa Nacional de Residuos Radiactivos S. A., Ansaldo Nucleare S. p. A, Rosatom State Nuclear Energy Corporation, Sellafield Ltd., GNS Gesellschaft für Nuklear-Service mbH, Sogin S. p. A.

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Largest And Fastest Growing Region In The Market
Europe was the largest region in the nuclear power reactor decommissioning market in 2023. North America is expected to be the fastest-growing region in the nuclear power reactor decommissioning market share during the forecast period. The regions covered in the nuclear power reactor decommissioning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nuclear Power Reactor Decommissioning Market Report Structure
3. Nuclear Power Reactor Decommissioning Market Trends And Strategies
4. Nuclear Power Reactor Decommissioning Market - Macro Economic Scenario
5. Nuclear Power Reactor Decommissioning Market Size And Growth
…..
27. Nuclear Power Reactor Decommissioning Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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