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

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.