Global Nuclear Power Reactor Decommissioning Market 2021-2024 is a comprehensive report which provides a detailed overview of the major driver, opportunities, challenges, current market trends and strategies impacting the Global Nuclear Power Reactor Decommissioning market in conjunction with calculation and forecast of size, share, and growth rate analysis. Combining the analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the Nuclear Power Reactor Decommissioning market all told its geographical and merchandise segments.
The market for nuclear power reactor decommissioning is expected to grow at a CAGR of approximately 12.10% during 2020-2025.
The Global Nuclear Power Reactor Decommissioning market is highly competitive and consists of a number of major players. Companies like Babcock International Group PLC, James Fisher & Sons PLC, NorthStar Group Services, Inc., Fluor Corporation, GE Hitachi Nuclear Services, Studsvik AB, WS Atkins Plc, Enercon Services, Inc., Areva SA, Aecom, Bechtel Group, Inc., Westinghouse Electric Company among others.
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Scope of the Report:
Major factors driving the market include the increasing number of nuclear reactors reaching operational retirement, declining prices of renewable power generation sources (i.e., wind & solar) rendering nuclear power less economical, and growing sensitivity toward environmental issues. On the other hand, the increasing adoption of alternate energy sources, such as gas-based power and solar power, are likely to hinder the market growth. The decommissioning activity of research reactors are expected to register significant growth, owing to the reduced requirement of the same, as there is a decreasing trend in research & development activity in the nuclear industry.
– South Korea is one of the new markets for nuclear decommissioning and creates an opportunity for foreign players to provide the necessary expertise that the country needs to develop its decommissioning market.
Key Market Trends:
Research Reactors set to be a Potential Market
– The decommissioning of research reactors is in a growing phase, owing to the reduced requirement of the same. Globally, the focus is shifting away from nuclear power, which has led to a reduction in research activities associated with nuclear technology. As of February 2020, the IAEA research reactor database showed that there were 220 operational research reactors (87 of them in developing countries), 9 under construction (four of these 100 MWt or more), 14 planned (12 in developing countries), 28 temporarily or in extended shutdown, 60 permanently shutdown, and 510 decommissioned or undergoing decommissioning.
– The decommissioning activities of several research reactors have been initiated on account of higher cost associated with regulatory compliances over a period of time. The cost of decommissioning of research reactors in some cases is lesser than the cost of maintaining the shutdown research reactor. Therefore, the decommissioning market for shutdown reactors are likely to grow.
– The United States is the world’s largest producer of nuclear power, accounting for approximately 32% of the total nuclear electricity generated, as of 2020.
– Most of the countrys nuclear power were built between 1967 and 1990. Further, from 1977 to 2013, no new construction of the nuclear plant was undertaken, due to the increased popularity of economic attractiveness of gas-based power generation. Consequently, there was a decreasing trend of investments into the nuclear sector, which aided the decommissioning market of nuclear research reactors in the country.
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The key insights of the Nuclear Power Reactor Decommissioning Market report:
- The report provides key statistics on the market status of the Nuclear Power Reactor Decommissioning market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
- The Nuclear Power Reactor Decommissioning market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.
- The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
- The report estimates 2020-2025 market development trends of Nuclear Power Reactor Decommissioning Market.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
- The report makes some important proposals for a new project of Nuclear Power Reactor Decommissioning Industry before evaluating its feasibility.
Finally, Nuclear Power Reactor Decommissioning Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Nuclear Power Reactor Decommissioning industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
Key points in this report:
– The market estimate (ME) sheet in Excel format
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