Global Nuclear Decommissioning Services Market 2017-2021
About Nuclear Decommissioning Services
Nuclear decommissioning can be defined as the process of retiring nuclear power plants from service. It involves all the management and technical activities related to the termination of operations of a nuclear installation. The process includes the dismantling of the entire facility to help in the de-licensing of the plant, which eventually removes the facility from regulatory control. Due to the nature of risks associated with the operations of radioactive material, the entire decommissioning process is closely monitored by government agencies.
Technavio’s analysts forecast the global nuclear decommissioning services market to grow at a CAGR of 34.87% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global nuclear decommissioning services market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Nuclear Decommissioning Services Market 2017-2021
Technavio recognizes the following companies as the key players in the global nuclear decommissioning services market: AECOM, AREVA, Babcock International Group, Studsvik, and Westinghouse Electric.
Other Prominent Vendors in the market are: Ansaldo Nuclear, CH2M HILL, EDF-Ciden, ENERCON, EnergySolutions, Enresa, GENERAL ELECTRIC, Grupo Dominguis, Javys, KDC Contractors, Magnox, NDA, NUVIA, Nuvia Group, ONET Group, Rosatom, and Sogin.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is international cooperation to ensure nuclear safety. Nuclear power had experienced continuous growth since the 1990's. However, its share dropped during 2011 and 2012 owing to the disasters such as Fukushima and the Chernobyl accident, which led to a reduction in output in Germany and Japan.”
According to the report, one driver in the market is shift in energy landscape. Renewable energy capacity has grown tremendously, supported by lucrative policies, incentives, and rebates. Significant investment has been made in low carbon technologies over the years, resulting in a continuous rise in the shares of renewable and alternative sources of energy in the global energy mix. The continuous investment fueled advances in technology is bringing renewable energy costs to competitive levels. In countries, such as the US, old nuclear power plants are being phased out due to low profitability.
Further, the report states that one challenge in the market is cost of decommissioning. The process of decommissioning is mainly based on the government regulations. The primary factors that influence the cost of decommissioning include the reactor type, its size, and the number of reactors. According to the World Nuclear Association, the cost of decommissioning a nuclear plant is estimated at 9%-15% of the initial capital investment made in constructing the plant. Also, depending on the amount of waste produced, its transportation, and the number of constructed waste repositories, the cost of decommissioning will vary.
AECOM, AREVA, Babcock International Group, Studsvik, and Westinghouse Electric, Ansaldo Nuclear, CH2M HILL, EDF-Ciden, ENERCON, EnergySolutions, Enresa, GENERAL ELECTRIC, Grupo Dominguis, Javys, KDC Contractors, Magnox, NDA, NUVIA, Nuvia Group, ONET Group, Rosatom, and Sogin.
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