Nuclear Decommissioning Services Market Set to Soar Past USD 9.55 Billion by 2030
The global Nuclear Decommissioning Services market size is expected to reach USD 6.1 billion by 2030 and exhibit a CAGR of 5.2% in the forecast period (2023−2030), according to Skyquest's latest research report. The aging nuclear infrastructure, increasing nuclear plant retirements, stringent regulatory requirements, rising focus on safety and environmental concerns, the need for radioactive waste management, and a growing emphasis on decommissioning project efficiency is fueling the market's growth.
Westford, USA, Feb. 26, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Nuclear Decommissioning Services market, increasing utilization of robotics and automation in decommissioning activities, the emergence of small modular reactors (SMRs) impacting decommissioning strategies, a shift towards safer and more sustainable decommissioning practices, growth in the development of innovative waste disposal solutions, and the expansion of public-private partnerships for funding and executing decommissioning projects, are the trends that aid in the market's growth.
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*Browse in-depth TOC on "Nuclear Decommissioning Services Market" *
· Pages - 157
· Tables - 92
· Figures - 74
Nuclear decommissioning is a complex and challenging undertaking that requires a high level of expertise and experience. Companies that provide nuclear decommissioning services must have the necessary skills and resources to safely and efficiently complete these projects.
*Prominent Players in Nuclear Decommissioning Services Market*
· AECOM
· Babcock International Group
· Westinghouse Electric Company
· Jacobs
· BWX Technologies
· Bechtel Corporation
· Orano Group
· NUVIA Group
· Enercon Services Inc.
· Studsvik
· Sogin S.p.A.
· KDC Contractors Limited
· Onet Technologies SAS
· Atkins Global
· Fluor Corporation
· Veolia Nuclear Solutions
· Cavendish Nuclear
· RSRL
· AREVA NP
· China National Nuclear Corporation (CNNC)
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*Pressurized Water Reactors (PWR) and Boiling Water Reactors (BWR) Demand to Grow Substantially in the Forecast Period*
Pressurized Water Reactors (PWR) and Boiling Water Reactors (BWR) dominate the global online market as they are among the most commonly used reactor types globally and have been operational in various countries for several decades. Many of these reactors naturally lead to a substantial demand for decommissioning services.
*Aging Nuclear Infrastructure is the Leading Application Segment *
In terms of application, the aging nuclear infrastructure is the leading segment, as many commercial nuclear power plants worldwide have reached or exceeded their operational lifespans. As these plants age, there is a growing need for decommissioning services to safely and efficiently retire them.
*North America is the leading Market Due to the Technological Advancements *
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The presence of a large number of nuclear power plants, many of which have reached the end of their operational life or are scheduled for decommissioning. The U.S. Nuclear Regulatory Commission (NRC) has established comprehensive regulatory requirements for decommissioning, which drives the demand for professional services. Additionally, Canada has its share of nuclear facilities, contributing to the region's significance.
A recent report thoroughly analyzes the major players operating within the Nuclear Decommissioning Services market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Nuclear Decommissioning Services.
*Key Developments in Nuclear Decommissioning Services Market*
· In the United States, BHI Energy is a provider of services for power generation and delivery. Westinghouse Electric Company LLC announced the signing of a deal for the acquisition of BHI Energy. With this acquisition, Westinghouse Electric Company LLC hopes to increase its knowledge and capabilities in the modification and upkeep of nuclear plants as well as other similar services.
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*Key Questions Answered in Nuclear Decommissioning Services Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· Can you list the top companies in the market and explain how they have achieved their positions of influence?
· In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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