Nuclear Power Reactor Decommissioning Market Size (2024 - 2029)

The nuclear power reactor decommissioning market is experiencing growth driven by the increasing number of reactors reaching the end of their operational life, alongside the declining costs of renewable energy sources and heightened environmental awareness. Despite challenges posed by the extension of nuclear plant lifetimes due to supportive government policies, the market is rebounding from pandemic impacts and is poised for expansion. Nuclear phase-out policies in various countries are creating opportunities for expertise in decommissioning, with North America, particularly the United States, anticipated to be a key growth area.

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Market Size of Nuclear Power Reactor Decommissioning Industry

Nuclear Power Reactor Decommissioning Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
CAGR 13.80 %
Fastest Growing Market North America
Largest Market Europe
Market Concentration Medium

Major Players

Nuclear Power Reactor Decommissioning Market Major Players

*Disclaimer: Major Players sorted in no particular order

Nuclear Power Reactor Decommissioning Market Analysis

The global nuclear power reactor decommissioning market is estimated to reach USD 2027.49 million by the end of the current year, and it is projected to register a CAGR of 13.8% during the forecast period.

Although the market studied was moderately impacted by the COVID-19 pandemic in 2020, it has been recovering and reached pre-pandemic levels.

The major factors driving the market's growth are the increasing number of nuclear reactors reaching operational retirement, declining prices of renewable power generation sources (i.e., wind and solar), and growing sensitivity toward environmental issues.

However, the lifetime extension of nuclear power plants with favorable government policies is expected to hinder the market's growth.

Nuclear phase-out policies in several countries, such as Germany, the United Kingdom, and South Korea, are expected to create opportunities for foreign and domestic players to provide the necessary expertise for the country's needs to develop their decommissioning market.

North America is expected to be the fastest-growing market for nuclear power reactor decommissioning, with the United States being one of the significant decommissioning hotspots in the region.

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. Earlier, nuclear plants were designed for 30-40 years of operating life, and these power plants had to be decommissioned after the completion of 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 global 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 nuclear power reactor decommissioning market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

By 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
By Application
Commercial Power Reactor
Prototype Power Reactor
Research Reactor
By Capacity
Below 100 MW
100-1000 MW
Above 1000 MW
By Geography
North America
Asia-Pacific
Europe
South America
Middle East and Africa
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Nuclear Power Reactor Decommissioning Market Size Summary

The nuclear power reactor decommissioning market is poised for significant growth, driven by the increasing number of reactors reaching the end of their operational life and the declining cost of renewable energy sources like wind and solar. This shift is further fueled by heightened environmental concerns and regulatory policies in several countries, such as Germany, the United Kingdom, and South Korea, which are phasing out nuclear power. These developments create opportunities for both domestic and international players to offer their expertise in decommissioning processes. North America, particularly the United States, is expected to be a key region for market expansion, with many reactors nearing retirement and private companies actively acquiring and decommissioning these plants.

The market landscape is moderately fragmented, with major players like Babcock International Group PLC, Fluor Corporation, GE Hitachi Nuclear Services, AECOM, and Westinghouse Electric Company leading the charge. The United States, with its aging nuclear fleet and competitive electricity generation from low-cost shale gas, is witnessing early retirements of nuclear plants. Similarly, Canada is preparing for the decommissioning of several reactors, driven by its historical leadership in nuclear research and technology. As countries continue to invest in renewable energy infrastructure, the demand for nuclear reactor decommissioning services is expected to rise, solidifying the market's growth trajectory during the forecast period.

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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 Nuclear Power Generation Forecast in TWh, till 2027

    4. 1.4 Recent Trends and Developments

    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 By 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 By Application

      1. 2.2.1 Commercial Power Reactor

      2. 2.2.2 Prototype Power Reactor

      3. 2.2.3 Research Reactor

    3. 2.3 By 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 By Geography

      1. 2.4.1 North America

      2. 2.4.2 Asia-Pacific

      3. 2.4.3 Europe

      4. 2.4.4 South America

      5. 2.4.5 Middle East and Africa

Nuclear Power Reactor Decommissioning Market Size FAQs

The Nuclear Power Reactor Decommissioning Market is projected to register a CAGR of 13.80% during the forecast period (2024-2029)

Babcock International Group PLC, GE Hitachi Nuclear Services, Fluor Corporation, Westinghouse Electric Company and AECOM are the major companies operating in the Nuclear Power Reactor Decommissioning Market.

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