Global Nuclear Decommissioning Services Market: Overview
The Fukushima incident divulges the helplessness of the nuclear power. The government needs to update and digitize the nuclear-decommissioning services in order to ensure the safety of the world. The regular inspections of the reactor and new strategy may reduce the chances of such occurrences. The introduction of stringent government regulations on several low performer nuclear reactors is also impacting the global market growth. For instance, WS Atkins plc announced to sign an agreement for an estimated value of US$318 Million with the Projects, Products and Technology segment of EnergySolutions—an international nuclear engineering services business. This acquisition is anticipated to boost nuclear strategy and build a global platform.
Global Nuclear Decommissioning Services Market: Segmentation
On the basis of type, the global nuclear-decommissioning services market is segmented as boiling water reactor (BWR), pressurized water reactor (PWR), light water graphite reactor (LWGR), gas-cooled reactors (GCR), and the pressurized heavy-water reactor (PHWR). Of these, the pressurized water reactor (PWR) is the leading type segment in the global nuclear decommissioning market accounting for the highest market share. Based on the capacity, the nuclear decommissioning market is categorized as up to 800 MW, 801 MW-1,000 MW, and above 1,000 MW. Further, the global market is divided on the basis of strategy as entombment, immediate dismantling, and deferred dismantling.
Global Nuclear Decommissioning Services Market: Growth Factors
Strict government rules are needed to upgrade or for digitization of the nuclear services so that changes in the reactor properties can be highlighted and assisted to concerned personnel without delay. This may drive the nuclear-decommissioning services market growth in future. The company focus to use robots in the high alert radiation area is also anticipated to boost the global market growth in future. However, nuclear plants adopting new innovation in digitization is one of the major fractions in the global market. Large investment in R&D may also fuel the market for nuclear-decommissioning services future.
Global Nuclear Decommissioning Services Market: Regional Analysis
North America is a prominent market for the nuclear decommissioning market showing significant growth. On the other hand, strict government regulations may restrain the market growth to some extent. Europe is the second largest region for the nuclear-decommissioning services followed by the North America, which is anticipated to witness further growth in the global market in this region. However, Asia Pacific is showing robust growth in the nuclear-decommissioning services market owing to growing number of nuclear plants in South Korea and Japan.
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Global Nuclear Decommissioning Services Market: Competitive Players
Some of the leading players in the global nuclear-decommissioning services market are Rosatom, AECOM, Studsvik, EDF-Ciden, AREVA SA, Westinghouse Electric, Javys, EnergySolutions, Babcock International Group, NDA, Nuvia, and Enresa.