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 2024-2031

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.