Nuclear Decommissioning Market Analysis

Global Nuclear Decommissioning Market Overview:

The Nuclear Decommissioning Market size was valued at USD 6.8 billion in 2023. The nuclear decommissioning market industry is projected to grow from USD 7.07 Billion in 2024 to USD 10.55 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2024 - 2032). The rising sensitivity towards environmental issues and growing public safety concerns about the dangerous aftereffects nuclear accidents are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Nuclear Decommissioning Market Trends

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  Factors contributing to boost market growth of Nuclear Decommissioning

  
  

Increased demand for energy around the world has seen various alternative sources of energy to come up. Increased environmental considerations regarding ozone and greenhouse gases, which result in increased temperatures, have seen renewable sources to penetrate the energy production market.

Further, with nuclear energy present in some particular countries around the world and with the option of generating energy using other sources it will lower the risk of any mishappening using nuclear energy, which has seen the nuclear decommissioning time in these countries.

Additionally, the growing sensitivity towards environmental issues is expected to propel the growth of the nuclear power reactor decommissioning market going forward. Environmental sensitivity refers to the growing awareness of environmental issues. Decommissioning is the process of removing nuclear fuel from a nuclear power plant and assisting in the termination of operating licenses. Therefore, growing sensitivity towards environmental issues is driving the growth of the nuclear power reactor decommissioning market has ensured the nuclear decommissioning market CAGR across the globe in recent years and thus is the another factor driving the growth of the nuclear decommissioning market revenue.

Nuclear Decommissioning Market Segment Insights:

Nuclear Decommissioning Reactor Type Insights

The nuclear decommissioning market segmentation, based on reactor type, includes PWR, BWR, GCR, and others. PWR held the maximum share in the nuclear decommissioning market in 2021. Pressurized water reactors are highly preferred by industry operators due to their high level of stability and easy operations. This segment is also projected to show significant growth during the study period due to its wide use and installation. This will further contribute to the nuclear decommissioning market revenue.

• October 2022: the nuclear decommissioning authority (NDA) and the national decommissioning center (NDC) in the UK entered into a partnership to conduct and share research inputs on offshore decommissioning and oil & gas sectors. These facilities include various simulating offshore subsea operations in real-time to eradicate or install energy infrastructure.


• October 2022: The Korean government announced that it has begun the construction of its first nuclear decommissioning research institute in Ulsan by 2026. The institute will develop technologies to ensure the safe suspension of nuclear power plants and function as a comprehensive platform to advance radioactive waste analysis.

Nuclear Decommissioning Strategy Insights

The nuclear decommissioning market data has been bifurcated into Immediate, Deferred Dismantling, and others. The Immediate segment is expected to be the faster-growing segment during the study period, 2022-2030. The immediate dismantling segment will dominate the market for the early phase-out of nuclear power plants in Europe, particularly in Italy and Germany.  This implants the positive impacts for the healthier market growth of nuclear decommissioning.

However, the global energy crisis continues to get worst, many nations have come to sense that nuclear power is a crucial component of their overall energy portfolio. As a result of the reduced levels of radiation produced by deferred dismantling in comparison to other ways, this market segment is estimated to experience a great rate of expansion over the period of projection.

• April: a new company, Toso Mirai Manufacturing, was introduced to balance reconstruction and decommissioning. Toso Mirai Manufacturing will build a decommissioning plant, adding to the safe & steady nuclear power decommissioning, with the planned production of spent fuel casks and fuel debris storage containers. This further widened the growth opportunity for the nuclear decommissioning industry.

Figure 2: Nuclear decommissioning market, by Surgery, 2021 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Nuclear Decommissioning Capacity Insights

Based on capacity, the global nuclear decommissioning industry has been segmented into 800MW, 801MW-1000MW, above 1000MW and others. The up to 800MW segment is expected to take over the market in the forecast period for the pre-closure of nuclear power plants the capacities of which are under 800 MW in the European region. However, 801MW-1000MW is held the fastest growing segment in the Nuclear Decommissioning industry.

Nuclear Decommissioning Regional Insights

By Region, the record provides market insights into North America, Europe, Asia-Pacific and the  Rest of the World. Europe’s nuclear decommissioning market accounted for USD 4.1 billion in 2021 and is expected to show a higher CAGR growth during the forecast period. This is The growing sensitivity towards environmental issues is expected to propel the growth of the nuclear power reactor decommissioning market going forward.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: NUCLEAR DECOMMISSIONING MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The Asia-Pacific nuclear decommissioning market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the increase political pressure to shut down nuclear power reactors before they are ready. South Korea and Japan are the nations in the Asia-Pacific region that have recently experienced nuclear decommissioning. Given that nuclear reactors & power plants will soon reach the end of their useful lives, China and India may present opportunities for the nuclear decommissioning business.  

The North America nuclear decommissioning market is projected to have notable growth over the forecast period. The presence of many nuclear plants in the region that are going to shut for the safety of the environment and people, constant technological advances, support from the government to phase out nuclear plants, significant expansion, and increasing awareness regarding environmental protection are adding to the global market growth in the region. Further, U.S. nuclear decommissioning market held the largest market share, and the Canada nuclear decommissioning market was the fastest-growing market in that region.

However, strict government regulations may limit the expansion of the market to some extent during the study period.

For instance, the nuclear decommissioning market is larger worldwide with an expansion strategy that includes participation in environmental projects in many regions. The rise of nuclear decommissioning services in Japan and other Asian countries is likely to boost the market in Asia-Pacific during the study period.

Nuclear Decommissioning Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the nuclear decommissioning market grow even more. Participants are taking strategic measures to increase their traces worldwide, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the nuclear decommissioning industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global nuclear decommissioning industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. The nuclear decommissioning market major player such as GD Energy Services Spain, AECOM U.S. and others are working to expand the market demand.

Grupo Dominguis Energy Services (GDES) founded in 1932 is an international business group based in Spain with leading in support services for operations, maintenance and decommissioning, surface treatment, logistics, energy efficiency and

AECOM became an independent company formed by the merger of five entities. While our official founding was in 1990, the company is committed to strive for better — be that reducing emissions, creating social value or diversifying our senior leadership and workforce.

For Instance, AECOM Ranked #1 in transportation design, facilities design, green design and environmental engineering by Engineering News-Record in 2022.

List of the Key Companies in the Nuclear Decommissioning market includes

• GD Energy Services (Spain)


• Enercon Services Inc. (Germany)


• EDF-CIDEN (U.K.)


• Nuvia Group (France)


• EnergySolutions (U.S.)


• Westinghouse Electric (U.S.)


• AECOM (U.S.)


• Studsvik AB (Sweden)


• Babcock International Group PLC. (U.K.)

Nuclear Decommissioning Industry Developments

• April 2022: Westinghouse Electric Company LLC announced the signing of an agreement for the acquisition of U.S.-based BHI Energy, a company providing services in power generation and delivery.


• June 2019: AECOM signed an alliance agreement with Japan-based Toshiba Corporation, a multinational conglomerate, to work on nuclear reactor decommissioning in Japan. It aims to offer decommissioning services for nuclear reactors and facilities of Japanese government organizations and commercial power utilities with this partnership.


• May 2022: Entergy Corporation shut down its Palisades nuclear plant on Lake Michigan. The nuclear power plant had an 800MW power generation capacity. The fuel was removed from the reactor’s vessel and placed in the spent fuel pool to cool. After the cooling process, the fuel will be taken to the secure independent fuel storage facility on the station property. The company aims to complete decommissioning of the nuclear plant by 2041.

Nuclear Decommissioning Market Segmentation

Nuclear Decommissioning Reactor Type Outlook

• PWR


• BWR


• GCR

Nuclear Decommissioning Strategy Outlook

• Immediate


• Deferred Dismantling


• Others

Nuclear Decommissioning Capacity Outlook

• Up to 800MW


• 801MW-1000MW


• Above 1000MW

Nuclear Decommissioning Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America