The global nuclear decommissioning market size is slated to expand substantially as energy production from renewables gathers momentum. The world is experiencing a paradigmatic shift from fossil fuels to clean sources to fulfill its ever-increasing energy needs. Renewables such as solar and wind are swiftly emerging as the dependable energy sources. According to the International Renewable Energy Agency (IRENA), renewable energy capacity rose by 7.9% in 2018 with addition of 171 GW of renewables. Close to 84% of this increase was attributable to solar and wind. The IRENA’s Renewable Capacity Statistics 2019 report states that solar energy capacity grew by 94 GW, while wind energy rose by 49 GW in 2018. As a result, about 33% of the world’s power is derived from renewable sources, says IRENA. Asia currently leads the world, accounting for 61% of renewable energy installations in 2018. Thus, growing reliance on renewable energy will be one of the top nuclear decommissioning market trends in the foreseeable future.
Through its new report, titled “Nuclear Decommissioning Market Size, Share & Industry Analysis, By Service Type (Immediate Dismantling, Safe Enclosure, Entombment), By Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Gas-Cooled Reactor, Others), By Capacity (Below 100 MW, 100 MW – 1000 MW, Above 1000 MW) and Regional Forecast, 2019-2026”, Fortune Business Insights™ provides the following:
- Careful study of the different market segments;
- In-depth research into the regional and competitive dynamics shaping the growth of the market;
- Detailed evaluation of the market drivers and restraints; and
- Accurate calculation of market values, share, and size.
Partnerships Between Private Players and Regulatory Authorities to Characterize Competition
“Government bodies are willingly outsourcing decommissioning operations to the private sector, which is sprucing up competition in this market”, says one of our leading analysts. Major companies are also focusing on developing efficient and effective solutions to successfully complete these projects, the nuclear decommissioning market analysis shows.
- July 2018: Candu Energy Inc. under SNC-Lavalin entered into a contractual agreement to provide decommissioning services to Saskatchewan Research Council’s Slowpoke-2 reactor in Canada. Under directives from the Canadian Nuclear Safety Commission, the company has begun the decommissioning process, which is expected to be completed by 2022.
- July 2018: UK’s Nuclear Decommissioning Authority (NDA) declared that Magnox Limited will become its subsidiary from September 2019. This announcement follows the termination of contract by the NDA with Magnox, which operates the Magnox nuclear plant sites in the country.
Prominent Companies Covered in the Nuclear Decommissioning Market Report
- Magnox Ltd
- Bechtel Corporation
- Manafort Brothers, Inc.
- Hitachi Nuclear Energy
- Westinghouse Electric Corporation
- Beyond Nuclear
- BWX Technologies, Inc.
- Babcock International Group
The rising instability in crude oil prices is expected to positively impact the growth of the Nuclear Decommissioning Market. Rising privatization and relaxation in the FDI norms are factors enabling growth in the market. Also, governments are heavily investing in power projects, which in turn, may fuel demand for energy and power plants across the globe.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Nuclear Decommissioning Market Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fuelling demand for energy and is expected to drive the Nuclear Decommissioning Market.
- By Service Type
- By Reactor Type
- By Capacity
- By Geography
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive the competition and maintain their stronghold.
- North America (The USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Content for Nuclear Decommissioning Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Market Analysis, Insights and Forecast, 2026
- North America Market Analysis, Insights and Forecast, 2026
- Europe Market Analysis, Insights and Forecast, 2026
- Asia Pacific Market Analysis, Insights and Forecast, 2026
- Middle East and Africa Market Analysis, Insights and Forecast, 2026
- Latin America Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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