USD 4.1 billion
Nuclear Decommissioning Market Size, Share, Growth Analysis, By Reactor Type (Pressurized Water Reactor (PWR), Boiling Water Reactor (BWR)), By Strategy (Immediate Dismantling, Deferred Dismantling), By Capacity (Upto 100 MW, Above 1000 MW), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20N2026 |
Region:
Global |
Published Date: November, 2024
Pages:
265
|Tables:
63
|Figures:
75
Nuclear Decommissioning Market Insights
Nuclear Decommissioning Market size was valued at USD 4.3 Billion in 2023 and is poised to grow from USD 4.52 Billion in 2024 to USD 6.41 Billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).
Nuclear decommissioning is the process of dismantling a nuclear facility so that it does not need to be shielded from radiation any longer. Technical, monetary, and social barriers to nuclear decommissioning exist. In order to ensure that radioactive materials are stored on-site safely or transported elsewhere for storage, it is necessary to address the removal of radioactive materials, which is a labor-intensive, expensive, and time-consuming process that also poses environmental dangers.
The global retirement of older nuclear reactors due to ageing and the shift toward renewable energy sources due to their low environmental impact are projected to be the main factors propelling the market's expansion in the ensuing years. The Covid-19 presented a variety of difficulties for the nuclear industry, including a lack of labour, limitations on the number of on-site staff, and disruptions in supply lines. Due to the shortage of workers and specialists, travel restrictions and government regulations hampered the completion of some nuclear decommissioning programmes. The project's completion deadlines ran the possibility of being delayed.
US Nuclear Decommissioning Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Pressurized Water Reactor (PWR)
Fastest Growth
Pressurized Water Reactor (PWR)
Growth Rate
5.1% CAGR
Global Nuclear Decommissioning Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Nuclear Decommissioning Market Segmental Analysis
Global Nuclear Decommissioning Market is segmented by Reactor Type, by Strategy, by Capacity and by Region. Based on Reactor Type, the market is segmented into Pressurized Water Reactor, Boiling Water Reactor, Gas-Cooled Reactor, Others. Based on Strategy, the market is segmented into Deferred Dismantling, Safe Entombment, Immediate Dismantling, Others. Based on Capacity, the market is segmented into Upto 100 MW, 100 MW-1000 MW, Above 1000 MW. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Nuclear Decommissioning Market Analysis by Rector Type
In 2021, pressurised water reactors retained the largest market share for nuclear decommissioning services worldwide. Operators in the industry favour PWRs because of their high level of stability and simplicity of use. Due to its extensive use and installation, this category is predicted to develop at the fastest rate during the projection period. Over the years, there have been many nuclear reactors functioning throughout the world, and numerous nations are now building additional reactors. On the other hand, more nuclear reactors are being shut down or moving into the decommissioning stage. The market for nuclear decommissioning services is expanding as a result of a substantial number of firms being drawn to it by the growing number of reactors that are being phased out.
Nuclear Decommissioning Market Analysis by Strategy
Nuclear facilities can be decommissioned in a number of ways, including as encapsulation, postponed decommissioning, or safe enclosure. These techniques each have advantages and disadvantages. The primary service type sector benefiting from the closure of an increasing number of nuclear power plants around the world, particularly in Europe, is immediate dismantling. After plant activities are completed, the service includes starting the dismantling process. Within a few years or months, the final decommissioning or dismantling action often starts. After regulated activity has ended or been shut down, the service enables removal of nuclear power units from regulatory control, opening up the site for other uses. Additionally, quick dismantling maximises the unit's remaining useful life while lowering maintenance costs and enabling use of existing radioactive waste disposal facilities.
However, as the global energy crisis worsens, the major countries have understood the value of nuclear energy in their energy mix and are extending the life of the reactors as a result. Due to lower radiation levels compared to other approaches, deferred dismantling is anticipated to expand at the quickest rate during the projection period.
The nuclear power facility is to be impermanently buried according to the entombment strategy. Comparatively speaking to the other two strategies, this one is a lot quicker and more cost-effective. Due to environmental issues as well as other public concerns, the majority of industry operators have not, however, adopted this technique.
Global Nuclear Decommissioning Market By Reactor Type, 2021 (%)
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Nuclear Decommissioning Market Regional Insights
In 2021, Europe held the greatest market share for nuclear decommissioning services worldwide. As nuclear decommissioning efforts are supported by strict government rules in Europe, this region's market is expanding. Within the next five years, decommissioning and decontamination (D&D) are expected to become the largest market in the world. By 2025, more than half of the 223 nuclear power stations in the European Union will be shut down. In the United States, the market for nuclear decommissioning services is anticipated to reach US$1.9 billion in 2022. The industry is expected to grow significantly since many nuclear power plants, particularly in industrialised nations, are nearing the end of their useful lives. Additionally, the economic appeal of nuclear power is declining due to growing environmental awareness and improved affordability of renewable energy sources like solar and wind.
Over the course of the forecast period, the nuclear decommissioning services market in the world is anticipated to grow at the quickest rate in the Asia Pacific region. Major factors influencing the growth of the nuclear decommissioning services market in Asia Pacific include the continuous nuclear decommissioning activities and government measures to minimise nuclear energy.
Global Nuclear Decommissioning Market By Geography, 2021 - 2028
- Largest
- Fastest
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Nuclear Decommissioning Market Dynamics
Nuclear Decommissioning Market Driver
- Due to the growing support from governments in many nations following nuclear accidents, the need for nuclear decommissioning has seen a phenomenal increase. The public and governments are applying increasing pressure, making nuclear phase-out urgently necessary.
- Less nuclear power is being used as a result of increased attention being paid to renewable energy sources like wind, solar, and others, which is fueling growth in the global market for nuclear decommissioning services.
- Growing safety concerns, particularly in areas like Europe and North America, are projected to have a favourable effect on market expansion.
Nuclear Decommissioning Market Restraint
- One of the main things impeding the market's expansion is the price of decommissioning. For each 1,000 megawatt plant, decommissioning costs are estimated to be between US$ 1 billion and US$ 1.5 billion.
- More than 11% of the world's electricity is produced by nuclear power facilities, which also produce no carbon dioxide emissions. Many nations are developing plans to extend the lifespan of their power facilities. As a result, many reactors are likely to operate longer than they were intended to. The market for nuclear decommissioning services is anticipated to suffer severely as a result.
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Nuclear Decommissioning Market Competitive Landscape
The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our nuclear decommissioning market reports, some of the leading nuclear decommissioning market manufacturers are as follows: Areva Group (France), Babcock International Group PLC. (UK), Studsvik AB (Sweden), AECOM (US), Westinghouse Electric (US), Orano Group (Paris), Bechtel Corporation (US), Magnox Ltd. (UK), NUVIA Group (France), Onet Technologies (UK).
Nuclear Decommissioning Market Top Players Company Profiles
- AECOM
- Ansaldo Energia
- Sogin s.p.a
- Bechtel
- BHI Energy
- EDF Energy
- EnergySolutions
- Fluor Corporation
- GE Hitachi Nuclear Energy
- GNS Gesellschaft für Nuklear-Service
- Holtec International
- Jacobs Engineering Group
- Magnox Ltd
- NDA Group
- Orano
- Rosatom
- Studsvik AB
- Swedish Nuclear Fuel and Waste Management Company
- Toshiba
- Westinghouse Electric Company
Nuclear Decommissioning Market Recent Developments
- In May 2022, the nuclear power reactor at Palisades on Lake Michigan was shut down by Entergy Corporation. The nuclear power facility may produce 800MW of electricity. The reactor's fuel was taken out and put in the spent fuel pool to cool. The fuel will be moved to the secure independent spent fuel storage facility on station grounds after cooling. The business also wants to finish decommissioning the nuclear reactor by 2041.
- In April 2022, in the United States, BHI Energy is a provider of services for power generation and delivery. Westinghouse Electric Company LLC announced the signing of a deal for the acquisition of BHI Energy. With this acquisition, Westinghouse Electric Company LLC hopes to increase its knowledge and capabilities in the modification and upkeep of nuclear plants as well as other similar services.
- In March 2022, a contract was struck by Hyundai Engineering & Construction and Holtec to work together to decommission a nuclear power station in the United States. After 45 years of service, the Indian Point Energy Center nuclear power facility in Buchanan, New York, was shut down in April 2021. The decommissioning project, which involved removing active components from nuclear reactors and transporting old nuclear fuel from pools into a dry storage system, will be managed by Hyundai Engineering & Construction.
Nuclear Decommissioning Key Market Trends
- Nuclear power stations have been shut down as a result of policy-level measures taken by governments around the world. Many governments have plans to limit the amount of nuclear energy in their country' energy mix. States in Western Europe with a significant renewable energy portfolio and severe worries about the environmental impact and potential risk of operating commercial nuclear power facilities frequently have such regulatory rules.
- Germany intends to shut down all of its reactors by the end of 2022 in accordance with its national policy. Similar to Switzerland, that nation decided to gradually phase out nuclear power reactors in 2017. The Belgian government reaffirmed its resolve to phase out nuclear power by 2025 when it signed an agreement in September 2020.
- Spain has also announced that it will shut down four of its seven commercial reactors that are now in operation by 2030 and the remaining three within the following five years, totally ceasing nuclear generation by 2035.
Nuclear Decommissioning Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, region-wise, the Europe had dominated the market, due to a number of factors, including strict governmental rules and regulations to phase out nuclear power facilities, the market for nuclear decommissioning services is anticipated to grow rapidly in Europe. North American nuclear power reactors are rapidly approaching the decommissioning stage. In the near future, it is projected that this will increase demand for nuclear decommissioning services in the area.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 4.1 billion |
| Market size value in 2031 | USD 6.1 billion |
| Growth Rate | 5.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Nuclear Decommissioning Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Nuclear Decommissioning Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Nuclear Decommissioning Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nuclear Decommissioning Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nuclear Decommissioning Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nuclear Decommissioning Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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