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Nuclear Power Reactor Decommissioning Global Market Report 2022
Major players in the nuclear power reactor decommissioning market are Babcock International Group PLC, GE Hitachi Nuclear Services, Fluor Corporation, Westinghouse Electric Company, AECOM, NorthStar Group Services Inc, Studsvik AB, Bechtel Group Inc, James Fisher and Sons PLC, Orano Group, WS Atkins PLC, Enercon Services Inc, Areva S.
New York, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nuclear Power Reactor Decommissioning Global Market Report 2022" - https://www.reportlinker.com/p06318561/?utm_source=GNW
A., SNC - LAVALIN, and TEPCO.
The global nuclear power reactor decommissioning market is expected to grow from $4.90 billion in 2021 to $5.62 billion in 2022 at a compound annual growth rate (CAGR) of 14.8%. The nuclear power reactor decommissioning market is expected to grow to $8.79 billion in 2026 at a CAGR of 11.8%.
The nuclear power reactor decommissioning market consists of sales of the nuclear power reactor decommissioning solution by entities (organizations, sole traders, and partnerships) that are used to remove the nuclear fuel from the nuclear power station.Nuclear power reactor decommissioning refers to the process of retiring nuclear power reactors from service and terminating the regulatory commission’s operating licenses.
It helps in dismantling the plant and restoring the site to an agreed-end-state ready for some form of re-use.
The main types of nuclear power reactor decommissioning are pressurized water reactors, pressurized heavy water reactors, boiling water reactors, high-temperature gas-cooled reactors, liquid metal fast breeder reactors, and others.Pressurized nuclear power reactor decommissioning refers to a type of nuclear reactor that generates energy while also propelling nuclear submarines and naval vessels.
The various capacities include below 100 MW, 100-1000 MW, and above 1000 MW and are used in several applications such as commercial power reactors, prototype power reactors, and research reactors.
Europe was the largest region in the nuclear power reactor decommissioning market in 2021.North America is expected to be the fastest-growing region in 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 and Africa.
The nuclear power reactor decommissioning market research report is one of a series of new reports that provides nuclear power reactor decommissioning market statistics, including nuclear power reactor decommissioning industry global market size, regional shares, competitors with a nuclear power reactor decommissioning market share, detailed nuclear power reactor decommissioning market segments, market trends and opportunities, and any further data you may need to thrive in the nuclear power reactor decommissioning industry. This nuclear power reactor decommissioning market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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.
The implementation of information and technology is the key trend gaining popularity in the nuclear power reactor decommissioning market.Major companies operating in the nuclear power reactor decommissioning sector are focused on using information and technology to reinforce their position.
For instance, in February 2020, VTT Technical Research Centre, a Finland-based research and technology company, launched the dECOmm project, which helps to decommission nuclear power plants.This project is using information technology in decommissioning to make the process easier and faster.
The dECOmm project is an eco-friendly project that emits less carbon while decommissioning nuclear power plants.
In December 2020, China National Nuclear Corporation (CNNC), a China-based company that generates and distributes nuclear power products, acquired Nusim SA for an undisclosed amount.This acquisition is part of a larger worldwide expansion strategy that includes participation in environmental projects in Europe, Africa, and South America, such as the decommissioning of European nuclear power plants.
Nusim is a Spanish-based company that specializes in the design and manufacture of decommissioning treatment tools and equipment for nuclear power plants.
The countries covered in the nuclear power reactor decommissioning market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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