Nuclear Decommissioning Services Market to grow exponentially at a CAGR of XX % by 2028
A recent report published by QMI on Nuclear Decommissioning Services market is a detailed assessment of the most important market dynamics. After carrying out thorough research on the market of nuclear decommissioning services historical as well as current growth parameters, business expectations for growth are obtained with utmost precision.
The study identifies specific and important factors affecting the market for nuclear decommissioning services during the forecast period. It can enable manufacturers of nuclear decommissioning services to change their production and marketing strategies in order to envisage maximum growth.
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Understanding Nuclear Decommissioning Services market-
Nuclear decommissioning is the process of dismantling a nuclear facility so that it no longer requires radiation protection. The complexities of decommissioning nuclear energy include technological, economic and social factors. Radioactive material disposal procedures are occupationally hazardous time-consuming, costly, and also present environmental risks that need to be addressed to ensure that radioactive materials are safely stored on site or transported for storage elsewhere.
The decommissioning process aims at reducing residual radioactivity levels. It is dispensed by activity frameworks, transferring radioactive materials to acceptable disposal sites, storing spent nuclear fuel until it can be withdrawn for disposal or safe storage from the nuclear power plant site, and releasing the property for other purposes.
Nuclear Decommissioning Services Market growth is projected to gain high momentum over the forecast period due to growing energy demands in developing nations to result in commissioning. Nuclear decommissioning is a process in which a nuclear facility is removed insofar as there is no radiation protection need. The radioactive materials are harmful to the environment and are dangerous. There is a growing awareness of the adverse effects of nuclear power plants emitting radiation.
The global nuclear-decommissioning services market has been divided on the basis of reactor type into pressurized heavy water reactor (PHWR), boiling water reactor (BWR), fast breeder reactor(FBR), gas-cooled reactor(GCR), and pressurized water reactor. In 2015, the BWR reactor group had the largest market share in the market for nuclear decommissioning services. Due to strict government regulations to phase out nuclear reactors by 2022, this can be due to an increase in the number of ventures undergoing decommissioning. Majority of European nuclear power plants operate on BWRs.
Based on capacity, the nuclear-decommissioning services market has been split into up to 800MW, 801-1,000MW, and above 1,000MW. The decommissioning strategy is immediate dismantling, deferred dismantling, and entombment.
Important Factors Impacting Market Growth:
o The strong cost of decommissioning
o Accidents and increasing political pressure for pre-closure
o Rising energy demands in developing regions to result in commissioning
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Europe accounted for the highest market share in the global nuclear decommissioning services market. A strict European government regulation to support nuclear decommissioning activities is a major factor boosting market growth in the region. In the next five years, Europe is expected to become the world’s largest market for decontamination and decontamination (D&D). Asia Pacific is projected one of the fastest growing regions for nuclear decommissioning services market over the forecast period. Some of the fastest developing economies and increasing demand for energy & power to cater high population & industries is projected to drive the demand in this region. China and India are expected to register major demand over the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises strong market potential during the forecast period. Rest of the World including South America and Africa are trending nations in terms of market demand during the forecast period.
Companies Covered: On the competitive scenario, the prominent players on the Nuclear Decommissioning Services market were discussed in detail. With past developments, the leading players in this industry have been profiled, and other key players include Westinghouse Electric Company, Aecom, Babcock International Group PLC, Onet Technologies, Nuvia Group, EnerconServics, Inc., and SoginS.P.A
Market Segmentation:
By Reactor Type:
o Boiling Water Reactor
o Pressurized Water Reactor
o Gas Cooled Reactor
o Pressurized Heavy Water Reactor
o Fast Breeder Reactor
By Decommissioning Strategy:
o Deferred Dismantling
o Immediate Dismantling
o Entombment
By Capacity:
o Up to 800MW
o 801-1,000MW
o Above 1,000MW
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Rector Type
o By Decommissioning Strategy
o By Capacity
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Rector Type
o By Decommissioning Strategy
o By Capacity
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Rector Type
o By Decommissioning Strategy
o By Capacity
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Rector Type
o By Decommissioning Strategy
o By Capacity
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Rector Type
o By Decommissioning Strategy
o By Capacity
o Rest of the World
o By Region (South America, Africa)
o By Rector Type
o By Decommissioning Strategy
o By Capacity
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