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The nuclear decommissioning service market in Asia-Pacific was valued US$ 1.22 billion in 2019 and is projected to reach US$ 1.80 billion by 2027; it is expected to grow at a CAGR of 5.1% from 2020 to 2027.
As the decommissioning of nuclear power plants is an expensive task, establishing a company to decommission these plants requires lump sum capital investments, massive manpower, and significant expertise. Therefore, the competitive landscape of this market in Asia-Pacific is majorly dominated by the well-established, industry-recognized, and financially balanced companies.
Prototype reactors are similar to commercial power reactors; however, these reactors are majorly developed for testing design features or newer safety features. According to several estimations, ~45 prototype reactors were shut down in 2017 in the world..
China
India
Orano
Tverskaya-oblast
Russia
South-korea
Dublin
Ireland
Korea
Ansaldo-energia
Laura-wood
Fluor-corporation
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Over 319 Reactors Worldwide Are Aged Over 30 Years. The Higher Maintenance Load Sends Nuclear Decommissioning Services on an Accelerated Path to Growth at 5.9%
The global market for Nuclear Decommissioning Services is projected to reach US$7.9 billion by the year 2027, trailing a post COVID-19 CAGR of 5.9%, over the analysis period 2020 through2027. The world can never put behind the 2011 Fukushima nuclear disaster. A dangerous mix of challenges currently confronts the nuclear power industry.
Stiff competition from low-cost natural gas; increased focus on cost cutting; reduced emphasis on safety, represent a lethal cocktail of trends in the industry. To ensure continued operation, reactor owners now need to take proactive measures in preventing aging-related failures. Intensive monitoring and preventive maintenance needed by aging reactors is expected to push up demand for nuclear decommissioning services.
Kazakhstan
Japan
United-states
United-kingdom
Argentina
China
South-africa
Russia
Dublin
Ireland
Pakistan
Germany