Research and Markets: Europe Nuclear Decommissioning Service Market Forecast to 2027: COVID-19 Impact and Analysis by Reactor Type; Strategy; Application; Capacity and Country - ResearchAndMarkets.com
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The nuclear decommissioning service market in Europe was valued US$ 2.68 billion in 2019 and is projected to reach US$ 4.29 billion by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027.
The growing health concerns due to radioactive emissions from aging infrastructures have compelled the European countries to decommission nuclear power plants that are nearing the end of their operational lives. France and Germany are among the leading countries in the nuclear decommissioning services market in this region.
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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..