North America Nuclear Power Reactor Decommissioning Market Size (2024 - 2029)

The North American nuclear power reactor decommissioning market is poised for significant growth, driven by the increasing number of nuclear reactors reaching operational retirement. Despite challenges posed by technical drawbacks of string inverters, the market has rebounded to pre-pandemic levels. Nuclear phase-out policies in the United States and Canada are expected to offer substantial growth opportunities. The United States, in particular, is anticipated to experience the most rapid expansion due to the decommissioning of older nuclear plants.

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Market Size of North America Nuclear Power Reactor Decommissioning Industry

North America Nuclear Power Reactor Decommissioning Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 9.00 %
Market Concentration Medium

Major Players

North America Nuclear Power Reactor Decommissioning Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Nuclear Power Reactor Decommissioning Market Analysis

The North American nuclear power reactor decommissioning market is expected to register a CAGR of over 9% during the forecast period.

The market was negatively impacted by the COVID-19 pandemic in 2020. Presently, the market has reached pre-pandemic levels.

  • Over the medium term, an increasing number of nuclear reactors reaching operational retirement is expected to drive the growth of the nuclear power reactor decommissioning market in North America.
  • On the other hand, technical drawbacks of string inverters are expected to hamper the growth of the market during the forecast period.
  • Nuclear phase-out policies in countries such as the United States and Canada will likely create lucrative growth opportunities for the North American nuclear power reactor decommissioning market during the forecast period.
  • The United States dominates the market and is likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing decommissioning of its old nuclear plants.

North America Nuclear Power Reactor Decommissioning Industry Segmentation

Decommissioning is the last step in the life cycle of a nuclear power facility. Decommissioning transforms the nuclear facility into an end-state compliant with national regulatory requirements. Previously, nuclear plants were designed for 30-40 years of operating life, which had to be decommissioned after their operational life. However, newer plants are designed for 40-60 years of operating life. At the end of the life of any power plant, the reactor needs to be decommissioned, cleaned up, and dismantled so that the site is available for other users.

The North American 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 into below 100 MW, 100 - 1000 MW, and above 1000 MW. The report also covers the market size and forecasts for the North American nuclear power reactor decommissioning market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

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
Applications
Commercial Power Reactor
Prototype Power Reactor
Research Reactor
Capacity
Below 100 MW
100-1000 MW
Above 1000 MW
Geography
United States
Canada
Rest of North America
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North America Nuclear Power Reactor Decommissioning Market Size Summary

The North American nuclear power reactor decommissioning market is poised for significant growth, driven by the increasing number of nuclear reactors reaching the end of their operational life. This trend is particularly evident in the United States and Canada, where nuclear phase-out policies are creating favorable conditions for market expansion. Despite the challenges posed by technical drawbacks of string inverters, the market is expected to benefit from the decommissioning of outdated nuclear power plants. The United States, as a dominant player in the market, is anticipated to experience the highest growth rate due to the ongoing decommissioning of its aging nuclear facilities. The commercial power reactor sector is likely to lead the market, as countries in the region continue to transition towards cheaper and cleaner renewable energy sources.

The decommissioning process in North America is characterized by a moderately fragmented market landscape, with key players such as Babcock International Group PLC, NorthStar Group Services Inc., and Fluor Corporation actively participating in the industry. The market's growth is further supported by strategic partnerships and agreements, such as the collaboration between Hyundai Engineering & Construction and Holtec for decommissioning projects in the United States. As the nuclear power industry in the region faces intense competition from low-cost shale gas and renewable energy, the focus on decommissioning old plants is expected to intensify. This shift is underscored by the recent shutdowns of significant nuclear plants, such as the Palisades nuclear plant in Michigan, highlighting the ongoing transition in North America's energy landscape.

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North America Nuclear Power Reactor Decommissioning Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Reactor Type

      1. 2.1.1 Pressurized Water Reactor

      2. 2.1.2 Pressurized Heavy Water Reactor

      3. 2.1.3 Boiling Water Reactor

      4. 2.1.4 High-temperature Gas-cooled Reactor

      5. 2.1.5 Liquid Metal Fast Breeder Reactor

      6. 2.1.6 Other Reactor Types

    2. 2.2 Applications

      1. 2.2.1 Commercial Power Reactor

      2. 2.2.2 Prototype Power Reactor

      3. 2.2.3 Research Reactor

    3. 2.3 Capacity

      1. 2.3.1 Below 100 MW

      2. 2.3.2 100-1000 MW

      3. 2.3.3 Above 1000 MW

    4. 2.4 Geography

      1. 2.4.1 United States

      2. 2.4.2 Canada

      3. 2.4.3 Rest of North America

North America Nuclear Power Reactor Decommissioning Market Size FAQs

The North America Nuclear Power Reactor Decommissioning Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)

Babcock International Group PLC, NorthStar Group Services, Inc., James Fisher & Sons PLC, Fluor Corporation and Enercon Services Inc. are the major companies operating in the North America Nuclear Power Reactor Decommissioning Market.

North America Nuclear Power Reactor Decommissioning Report Snapshots

North America Nuclear Power Reactor Decommissioning Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)