The factors driving the growth of nuclear decommissioning market are the rising nuclear accidents and political pressure for the closure of the nuclear power plant to ensure safety of the environment and people. The increase in support from the government for the pre-closure of nuclear power plant has also led to the growth of this market. Due to the stringent regulations, the low performance nuclear power plants are decommissioned so that there is no after effect. Digitization of system ensures that if there is any sudden change in the property of nuclear power plant and it is immediately managed by taking necessary steps. This is one of the major factors that responsible for the growth of nuclear decommissioning market.
The report has been analyzed based on the reactor types, strategies, capacities, and regions. Based on reactor types, boiling water reactor accounts for the largest share in nuclear decommissioning market due to the increase in the number of projects that are undergoing decommissioning. Based on the strategies, deferred dismantling is expected to account for the largest share during the forecast period due to the development of the renewable sources of plants in Europe. On the basis of capacities, up to 800MW segment is expected to dominate the market due to the pre-closure of nuclear power plants whose capacity is below 800MW.
Global Nuclear Decommissioning Market is predicted to grow at approximately 12% by 2022
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- Areva Group (France),
- Babcock International Group PLC. (U.K.),
- Studsvik AB (Sweden),
- AECOM (U.S.),
- Westinghouse Electric (U.S.),
- EnergySolutions (U.S.),
- Nuvia Group (France),
- EDF-CIDEN (U.K.),
- Enercon Services, Inc. (Germany),
- GD Energy ServicesSpain).
Europe accounts for the highest market share
Europe has accounted for the largest market share of nuclear decommissioning due to the support from the government and the public concern for the closure of the nuclear power plants. In North America, majority of the nuclear power plant are very old and are on the verge of closing down. This creates a huge opportunity for the nuclear decommissioning in this region. Canada is an important country for nuclear power plants but there were various protest for the closure of the nuclear power plant in the public interest. Due to this situation the government was forced to close nuclear power plants, which eventually increased the market of nuclear decommissioning.
Market Research Analysis
The market is highly based on reactor types. Boiling water reactor is dominating the market due to the increase in the number of nuclear power plant being dismantled. The initiative for the decommissioning of the nuclear power plant by the government have also resulted in the growth of this segment. Pressurized water reactor is the second largest segment due to the increasing number of decommissioning in the forecast period.
The major drivers for the nuclear decommissioning market are growing nuclear accidents, rising political pressure, increase in safety of environment and people.
The major restraints that hinder the growth of nuclear decommissioning market are reliability of the service that accompanies the process. While dismantling there have been times when the radioactive elements had harmed the environment due to leakage. This is the major concern while dismantling.
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