Market Size of Asia-Pacific Nuclear Power Reactor Decommissioning Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Nuclear Power Reactor Decommissioning Market Analysis
The Asia Pacific Nuclear Power Reactor Decommissioning Market is expected to grow at a CAGR of more than 6% over the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.
- Over the medium term, increasing penetration of renewable energy sources such as solar and wind, which produce cleaner and more economical energy, are expected to drive the market during the forecasted period.
- On the other hand, the high cost of decommissioning plants and few numbers of mature power plants are significant restraints expected to hinder the market's growth during the forecasted period.
- Nevertheless, the increasing usage of robots and artificial intelligence for plant decommissioning is expected to create significant opportunities for the Asia Pacific nuclear power reactor decommissioning market.
- Japan is expected to dominate the Asia Pacific nuclear power reactor decommissioning market over the forecast period due to the increasing decommissioning projects and supportive government policies.
Asia Pacific Nuclear Power Reactor Decommissioning Industry Segmentation
Decommissioning nuclear power plants are the process of removing all the fuel in that nuclear power station. Shutting down the plans and all the facilities and restoring the site to a pre-agreed state so the land can be reutilized for other activities. The dismantling is done so that no more protection is required against the radiation.
The Asia Pacific Nuclear Power Reactor Decommissioning Market is segmented by Reactor Type, Application, Capacity, and Geography. By reactor type, the market is segmented into Pressurized Water Reactor, Pressurized Heavy Water Reactor, Boiling Water Reactor, High-temperature Gas-cooled Reactor, Liquid Metal Fast Breeder Reactor, and Other Reactor Types. By Application, the market is segmented into Commercial Power Reactors, Prototype Power Reactors, and Research reactors. By Capacity, the market is segmented below 100 MW, 100-1000 MW, and Above 1000 MW. The report also covers the market size and forecasts for the Asia Pacific nuclear power reactor decommissioning market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| Reactor Type | |
| Pressurized Water Reactor | |
| Pressurized Heavy Water Reactor | |
| Boiling Water Reactor | |
| High-temperature Gas-cooled Reactor | |
| Liquid Metal Fast Breeder Reactor | |
| Other Reactor Types |
| Application | |
| Commercial Power Reactor | |
| Prototype Power Reactor | |
| Research Reactor |
| Capacity | |
| Below 100 MW | |
| 100-1000 MW | |
| Above 1000 MW |
| Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)} | |
| Japan | |
| China | |
| Rest of Asia-Pacific |
Asia-Pacific Nuclear Power Reactor Decommissioning Market Size Summary
The Asia Pacific Nuclear Power Reactor Decommissioning Market is poised for significant growth, driven by the increasing shift towards renewable energy sources like solar and wind, which offer cleaner and more cost-effective alternatives. Despite the high costs associated with decommissioning and the limited number of mature power plants, advancements in robotics and artificial intelligence are expected to open new avenues for market expansion. Japan is anticipated to lead the market due to its proactive decommissioning projects and supportive government policies, which are crucial in managing the aging nuclear infrastructure in the region.
The region's nuclear power landscape is characterized by a substantial number of commercial reactors, with countries such as China, Japan, South Korea, and India playing pivotal roles in the market's development. The presence of older reactors, particularly those built in the 1960s and 1970s, underscores the need for decommissioning efforts. Japan's strategic focus on energy security and its plans to replace outdated reactors with modern, safer alternatives further highlight the country's dominance in the market. Key industry players, including Hitachi-GE Nuclear Energy, Japan Atomic Power Co., and Korea Hydro & Nuclear Power, are actively involved in the decommissioning processes, ensuring a moderately fragmented yet competitive market landscape.
Asia-Pacific Nuclear Power Reactor Decommissioning Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Force Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Reactor Type
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2.1.1 Pressurized Water Reactor
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2.1.2 Pressurized Heavy Water Reactor
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2.1.3 Boiling Water Reactor
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2.1.4 High-temperature Gas-cooled Reactor
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2.1.5 Liquid Metal Fast Breeder Reactor
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2.1.6 Other Reactor Types
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2.2 Application
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2.2.1 Commercial Power Reactor
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2.2.2 Prototype Power Reactor
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2.2.3 Research Reactor
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2.3 Capacity
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2.3.1 Below 100 MW
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2.3.2 100-1000 MW
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2.3.3 Above 1000 MW
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2.4 Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}
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2.4.1 Japan
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2.4.2 China
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2.4.3 Rest of Asia-Pacific
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Asia-Pacific Nuclear Power Reactor Decommissioning Market Size FAQs
What is the current Asia-Pacific Nuclear Power Reactor Decommissioning Market size?
The Asia-Pacific Nuclear Power Reactor Decommissioning Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Nuclear Power Reactor Decommissioning Market?
Hitachi-GE Nuclear Energy, Ltd., Japan Atomic Power Co., Snc-Lavalin Group Inc (Atkins), Tokyo Electric Power Company Holdings, Inc. and Korea Hydro & Nuclear Power Co., Ltd. are the major companies operating in the Asia-Pacific Nuclear Power Reactor Decommissioning Market.
