NEW
YORK, June 14, 2024 /PRNewswire/ -- The nuclear
decommissioning services market size in Europe is estimated to grow by USD 1.84 billion from 2024-2028, according
to Technavio. The market is estimated to grow at a CAGR of
5.7% during the forecast period. Increasing shutdown of nuclear
reactors is driving market growth, with a trend
towards use of robotics in decommissioning services.
However, high costs associated with decommissioning poses a
challenge. Key market players include AECOM, Ansaldo Energia Spa,
Babcock International Group Plc, Bechtel Corp., Electricite de
France SA, ENRESA, GD Energy Services Ltd., GE Hitachi Energy,
Jacobs Solutions Inc., Jadrova a vyradovacia spolocnost AS, Orano,
Qualcomm Inc., SNC Lavalin Group Inc., Studsvik AB, Veolia
Environnement SA, and Westinghouse Electric Co. LLC.
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Nuclear
Decommissioning Services Market Scope in Europe
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.7%
|
Market growth
2024-2028
|
USD 1841.58
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.23
|
Regional
analysis
|
Europe
|
Performing market
contribution
|
Europe at
100%
|
Key
countries
|
UK, Germany, France,
Italy, and Rest of Europe
|
Key companies
profiled
|
AECOM, Ansaldo Energia
Spa, Babcock International Group Plc, Bechtel Corp., Electricite de
France SA, ENRESA, GD Energy Services Ltd., GE Hitachi Energy,
Jacobs Solutions Inc., Jadrova a vyradovacia spolocnost AS, Orano,
Qualcomm Inc., SNC Lavalin Group Inc., Studsvik AB, Veolia
Environnement SA, and Westinghouse Electric Co. LLC
|
Market Driver
The International Energy Agency anticipates the decommissioning
of approximately 200 nuclear reactors in the next quarter-century,
with many located in Europe. This
presents a significant challenge due to the scarcity of vendors
providing intricate and hazardous decommissioning services. To
mitigate risks, companies are increasingly employing robots for
complex tasks. Orano and Studsvik are pioneers in this field.
Robotics enhances safety, lowers contamination, and offers cost
savings, making it a crucial driver for the European nuclear
decommissioning services market's expansion.
The European Nuclear Decommissioning Services market is
experiencing significant growth due to the increasing demand for
decarbonization and the decommissioning of aging nuclear power
plants. Reactor types, fuel types, and locations vary, requiring
diverse decommissioning solutions. Decision makers consider factors
like cost, safety, and environmental impact.
New technologies, such as remote handling and robotic systems,
are driving innovation in the sector. Decommissioning companies
provide services like dismantling, fuel handling, and waste
management. The market is expected to continue growing, with key
players focusing on improving efficiency and reducing costs. The
UK, France, and Germany are major players in the European
Nuclear Decommissioning Services market.
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Market Challenges
- The European nuclear decommissioning services market is
influenced by government regulations and the cost of
decommissioning, which is estimated to be 9%-15% of a plant's
initial capital investment. Factors such as reactor type, size,
waste production, and transportation impact the cost. The EU
provides financial support to member countries, but the increasing
gap between costs and financing may hinder market growth.
Variations in costs and unique regulations per country make
cross-referencing difficult.
- The European Nuclear Decommissioning Services Market faces
several challenges. Decision makers must address the complexities
of decommissioning old nuclear reactors and facilities. These
include the safe and efficient dismantling of structures, the
handling and disposal of radioactive waste, and the decontamination
of sites. Additionally, the cost and time required for
decommissioning projects can be significant.
- The use of advanced technologies, such as robotics and
artificial intelligence, can help streamline processes and improve
safety. However, the high upfront costs of implementing these
technologies can be a barrier to entry. Regulatory compliance is
also a major challenge, as decommissioning projects must adhere to
strict safety and environmental regulations. Overall, the European
Nuclear Decommissioning Services Market requires innovative
solutions to address these challenges and ensure the safe and
efficient decommissioning of nuclear facilities.
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Segment Overview
- Application
- 1.1 Research reactors
- 1.2 Power reactors
- Type
- 2.1 PWR
- 2.2 BWR
- 2.3 Others
- Geography
1.1 Research reactors- Nuclear decommissioning
services in Europe involve the
dismantling of power reactors, primarily in Germany, where eight high-capacity reactors
are being closed. This process is lengthy and costly, requiring
substantial capital from both operators and governments. The market
growth is driven by increasing funds for decommissioning in
countries like Germany,
contributing significantly to the European energy mix. Various
reactor types, including PWR, BWR, LWGR, and VVER, require these
services upon reaching the end of their life cycles.
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geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Nuclear Decommissioning Services Market in Europe is experiencing significant growth due
to the operational life of numerous Nuclear Facilities, Power
Plants, and Nuclear Installations approaching their end.
Environmental considerations, including the safe management of
Nuclear Fuel and Radioactive Materials, are paramount.
Decontamination processes are essential for Nuclear
Decommissioning, with methods varying for Water-Cooled Reactors and
Gas-Cooled Reactors.
Safety concerns for the Public necessitate Immediate Dismantling
in some cases, while Deferred Dismantling is an option for others.
The energy transition towards Renewable Sources and the reduction
of Ozone-depleting and Greenhouse Gases from Nuclear Energy are
also driving factors. Mishappenings, such as Nuclear Accidents,
further emphasize the importance of effective Nuclear
Decommissioning Services.
Market Research Overview
The Nuclear Decommissioning Services Market in Europe is experiencing significant growth due
to the increasing focus on nuclear energy decarbonization and the
decommissioning of aging nuclear power plants. This market involves
the removal of nuclear fuel, the dismantling of structures, and the
safe disposal of radioactive waste. The process is complex and
requires specialized expertise and advanced technologies. The
market is driven by factors such as stringent regulations,
increasing public awareness, and the need for sustainable energy
solutions.
The demand for nuclear decommissioning services is expected to
continue as European countries transition towards a low-carbon
economy. The market encompasses various activities such as site
preparation, fuel handling, structural dismantling, and waste
management. The use of innovative technologies, including robotics
and artificial intelligence, is transforming the industry and
making decommissioning safer and more efficient.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Research Reactors
- Power Reactors
- Type
-
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio