Market Size of United Kingdom 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 | 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UK Nuclear Power Reactor Decommissioning Market Analysis
The United Kingdom nuclear power reactor decommissioning market is expected to rise at a CAGR of more than 5% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Over the medium period, increasing renewable energy installation, which is cheaper and cleaner, is expected to drive the United Kingdom nuclear power reactor decommissioning market during the forecast period.
- On the other hand, the high cost of decommissioning nuclear plants is expected to restrain the United Kingdom nuclear power reactor decommissioning market.
- Nevertheless, increasing the use of robots and artificial intelligence in the decommissioning of nuclear reactors is safer and will likely create several opportunities for the United Kingdom nuclear power reactor decommissioning market in the future.
UK Nuclear Power Reactor Decommissioning Industry Segmentation
Decommissioning a nuclear installation, such as a power plant or research reactor, is the last step in its lifecycle. It involves activities ranging from the shutdown and removal of nuclear material to the environmental restoration of the site. The whole process involves several components and typically requires approximately 20 to 30 years to complete.
The nuclear power reactor decommissioning market is segmented by reactor type, application, and capacity. 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. 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 |
United Kingdom Nuclear Power Reactor Decommissioning Market Size Summary
The United Kingdom nuclear power reactor decommissioning market is poised for growth, driven by the transition towards renewable energy sources, which are increasingly seen as more cost-effective and environmentally friendly. The market, having rebounded to pre-pandemic levels, is expected to expand steadily over the forecast period. This growth is supported by advancements in technology, such as the use of robots and artificial intelligence, which enhance safety and efficiency in decommissioning processes. However, the high costs associated with decommissioning nuclear plants present a significant challenge. The regulatory framework, primarily overseen by the Nuclear Decommissioning Authority (NDA), plays a crucial role in managing these activities, with plans to achieve the end state for all nuclear sites by a specified timeline.
The shift towards renewable energy is a key factor influencing the decommissioning market, as the UK aims to reduce its carbon footprint and increase the share of clean energy in its total energy generation. Initiatives like the Renewable Obligation and Feed-in Tariff schemes are designed to promote renewable energy installations, further driving the demand for decommissioning nuclear reactors. The market is moderately fragmented, with several key players actively participating in decommissioning projects. Additionally, collaborations, such as those between the NDA and local governments, are facilitating the development of new nuclear projects, which may offer long-term opportunities for the decommissioning sector.
United Kingdom 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 PESTLE Analysis
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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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United Kingdom Nuclear Power Reactor Decommissioning Market Size FAQs
What is the current United Kingdom Nuclear Power Reactor Decommissioning Market size?
The United Kingdom Nuclear Power Reactor Decommissioning Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in United Kingdom Nuclear Power Reactor Decommissioning Market?
Babcock International Group PLC, James Fisher & Sons PLC, Fluor Corporation, Studsvik AB and Orano Group are the major companies operating in the United Kingdom Nuclear Power Reactor Decommissioning Market.
