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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Nuclear Decommissioning Services market. Market segmentation includes Capacity (Upto 800 MW, and 801 MW & Above); Service (Immediate Dismantling, Deferred Dismantling, and Entombment).

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24 November 5:55 a.m., Silicon Valley, California - According to the new market research report, the global market for Nuclear Decommissioning Services is projected to grow at a CAGR of 5.9% to reach US$7.9 billion by 2027, driven by the presence of a large number of nuclear power plants that are nearing operational retirement and increasing cost-effectiveness of renewable power generation. The global Nuclear Decommissioning Services market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Upto 800 MW capacity segment analyzed and sized in this study, is forecast to grow at over 6.3% and reach a market size of US$5.1 billion by the end of the analysis period. The United States is forecast to readjust to a 6.4% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$1.4 billion growing at a CAGR of 6.4% over the next couple of years. In addition, over US$747 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Immediate Dismantling service segment will reach a market size of US$176.7 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Deferred Dismantling service segment in this country against this backdrop will grow at a CAGR of 6.2% over the next couple of years to create an addressable market opportunity worth US$347.3 million by the year 2027.

Nuclear reactors hold an estimated service life of around 40-60 years and need to be demolished or dismantled for making the site available for other purposes. Nuclear decommissioning process involves dismantling of nuclear facilities to eliminate the need for radiation protection. These services are intended to remove radioactive materials posing serious hazards to the human life and the environment. The cleanup of radioactive substances ensures no radiologic risk related to the nuclear power facility. Nuclear decommissioning is a time-intensive process that takes several years owing to slow degradation of radioactive waste. Nuclear decommissioning services are experiencing notable spike in demand owing to increasing government support and mounting political pressure for phase-out of nuclear facilities. Rising safety concerns, particularly in developed regions like North America and Europe, expected to provide a significant push to the market. The radiologic risk posed by potential emissions of radioactive materials from nuclear facilities is prompting plant operators and governments to consider decommissioning services. In addition, the extension of existing licenses for nuclear facilities across various countries, mainly the US, is likely to offer lucrative opportunities for market participants. Concerns over energy crisis highlight the significance of nuclear power facilities and prompting several governments to extend lifespan of their nuclear reactors.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 503. Among this pool, 101 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 22 unique participations, a total of 11 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Babcock International Group PLC
Studsvik AB
Onet Technologies
Nuvia Group
Sogin S.P.A (Societa Gestione Impianti Nucleari)
KDC Contractors Ltd.

Segments Covered in the Report -
Capacity (Upto 800 MW, 801 MW & Above)
Service (Immediate Dismantling, Deferred Dismantling, Entombment)

Geographies Analyzed in the Report -
Rest of Europe
Rest of World.

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