Global Nuclear Decommissioning Services Market: Snapshot
The demand in the global market for nuclear decommissioning market is driven by a number of factors including accidents and rising political pressure for pre-closure, stringent regulations since Fukushima accident, public and government support for decommissioning of nuclear reactors, worldwide shut down of older reactors, and increase in the use of renewable energy. On the other hand, stringent regulatory standards, reliability of nuclear power, difficulty pertaining to proper disposing of radioactive nuclear waste, escalating demand for power, and cost of decommissioning are a few important factors restricting the market from attaining its true potential. Nevertheless, the vendors of the global nuclear decommissioning services market are expected to gain new opportunities from some of the growing trends such as international cooperation to ensure nuclear safety, technological advancements in these services, and the vulnerability of political turmoil.
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This report on the global nuclear decommissioning services market has been developed by a group of professional market research analysts, aiming to represent the current scenario as well as future prospects for these services to the targeted audiences such as nuclear decommissioning contractors, equipment manufacturers, government and research organizations, consulting companies in the energy sector, environmental associations, and investment banks. The report provides comprehensive assessment of all market dynamics, segments the market into valuable aspects, and gauges the potential of most prominent regions. A number of leading companies operating in the global nuclear decommissioning market have also been analyzed in this report in a dedicated section in order to showcase the competitive landscape and recent strategic developments.
Global Nuclear Decommissioning Services Market: Overview
Nuclear accidents such as the unfortunate event in the Fukushima Daichii power plant in 2011 has compelled governments to enforce pre-closure of nuclear power plants. The practice has gained paced especially in European countries, subsequently creating the demand for nuclear decommissioning services worldwide. Experts predict the global decommissioning services market to exhibit robust growth between 2017 and 2025. Besides this, the rising political pressure to pre-close nuclear power plants posing threat to agglomerating regions will stoke the demand for nuclear decommissioning services as well.
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The report is aimed at identifying the key opportunities in the market, besides listing hindrances requiring attention of the leading market players. It covers the key growth drivers and sheds light on the most lucrative segments. Thus for the purpose of the study, the global nuclear decommissioning services market can be segmented based on capacity, strategy, reactor type, and region. In terms of strategy, the market can be segmented into deferred dismantling, immediate dismantling, and entombment. Among this, growth witnessed in the immediate dismantling segment has been quite high. By reactor, the market can be bifurcated into gas-cooled reactors and water-cooled reactors.
The report presents insights into the factors influencing the market’s trajectory across aforementioned segments. It is thus intended at updating stakeholders about the prevailing market dynamics and helping readers gain a better perspective about the overall market. To provide a detailed assessment the effect of Porter’s five forces on the overall market operation is also gauged.
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Global Nuclear Decommissioning Services Market: Trends and Opportunities
Recent power plant disasters divulge vulnerability of nuclear power plants. It is therefore imperative for governments to digitize and update nuclear decommissioning services in order to ascertain increased safety to the world. New strategies as well as regular inspections of nuclear reactors can significantly bring down the risk of such disasters. The governments around the world have thus implemented stringent regulations compelling pre-closure of lower performing nuclear reactors. Besides this strategic collaborations between government organizations and private parties are likely to boost nuclear strategy by building global platform. Spurred by these factors, the demand for nuclear decommissioning services is scale higher.
Global Nuclear Decommissioning Services Market: Regional Outlook
Among the leading regional markets for nuclear decommissioning services, Europe is currently exhibiting highly lucrative opportunities. The increasing demand from Germany is expected to give impetus to the nuclear decommissioning services market in Europe. Factors such as the rising government support, coupled with public concerns regarding nuclear power plants closing before schedules, will fuel the demand for nuclear decommissioning services further. Meanwhile, in Asia Pacific as well the market is expected to gain significant traction over the course of the forecast period. Japan and South Korea boast a large number of nuclear power plants, which is expected to bolster opportunities for the nuclear decommissioning services market in Asia Pacific.
Global Nuclear Decommissioning Services Market: Vendor Landscape
The global nuclear decommissioning services market includes prominent companies such as Babcock International Group PLC., Areva Group, AECOM, Studsvik, and Westinghouse Electric among others. A study into their marketing strategies and business policies can reveal the prevailing market trends. The report therefore includes profiles of some of the leading companies operating in the global nuclear decommissioning services market. SWOT Analysis is conducted on the companies profiled to evaluate their strengths and weaknesses and present insights into opportunities and threats that they might face over the course of the report’s forecast period.