The Europe nuclear reactor decommissioning market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 10% during 2023–2031. The growth of the market is attributed to growing sensitivity toward environmental issues.
Decommissioning of a nuclear facility is the procedure in which a nuclear plant is dismantled to the position that it no longer requires actions for protection from hazardous radiation. Decommissioning is a technical and administrative process. It includes progressive demolition and cleaning of radioactive materials from facilities.
Most nuclear power plants are designed to operate for 40 years; however, some nuclear plants have a lifespan of 50 years. Many existing plants are in the process of being upgraded and deploying more advanced infrastructure at these facilities, while some are inclined to be decommissioned and shut.
The use of decommissioning services has been increasing with governments of various countries focusing on ensuring efficient and safe dismantling of nuclear plants and facilities. After the Fukushima incident, some countries have implemented nuclear phase policies.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing awareness about environmental protection is fueling the growth of the market.
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Rising demand for minimal environmental impact is estimated to positively influence the market growth during the forecast period.
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Stringent government policies toward sustainable environment and expansion of renewable resources in Europe presents a key driver for the market expansion.
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Expanding utilization of wind energy to generate inexhaustible power in the nation is a key challenge that can limit the market growth.
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Wide exploration and availability of engineers to experiment several cost-effective means for development of effective solar energy acts as a key factor offering several growth opportunities for the market.
Scope of the Report
The report on the Europe nuclear reactor decommissioning market includes an assessment of the market, trends, segments, and Geography markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Nuclear Reactor Decommissioning Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Reactor Types (Pressurized Water Reactors, Boiling Water Reactors, Gas Cooled Reactors, and Others), Applications (Commercial Power Reactors, Prototype Power Reactors, and Research Reactors), and Capacities (Below 100 MW, Between 100 - 1000 MW, and Above 1000 MW)
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Geography Scope
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The UK, Germany, Italy, France, the Netherlands, and Rest of Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Fluor Corporation; GE Hitachi Nuclear Services; James Fisher and Sons PLC; Cavendish Nuclear Ltd, and Electricite de France SA.
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Europe Nuclear reactor decommissioning Market Segment Insights
Pressurized water reactors segment is expected to grow at a robust pace
Based on reactor types, the market is segregated into pressurized water reactors, boiling water reactors, gas cooled reactors, and others. The pressurized water reactors segment is anticipated to account for a significant market share during the forecast period. Pressurized water reactors which eventually reflects in the higher construction and decommissioning of these reactors than other reactors.
Research reactors segment is projected to dominate the market
On the basis of applications, the European nuclear reactor decommissioning market is segregated into commercial power reactors, prototype power reactors, and research reactors. The research reactors segment is projected to expand at a considerable CAGR during the forecast period owing to the reduced requirement of research reactors. The shifting of focus from nuclear power has led to a reduction in research activities associated with nuclear technology.
Above 1000 MW segment is anticipated to constitute a key market share
In terms of capacities, the market is categorized as below 100 MW, between 100 - 1000 MW, and above 1000 MW. The above 1000 MW segment held a substantial market, and can spur the market over the forecast period for the pre-closure of nuclear power.
France to constitute a considerable market share
In terms of geography, the market is classified as the UK, Germany, Italy, France, the Netherlands, and the Rest of Europe. France is anticipated to account for a significant market share during the forecast period. France is heavily dependent on nuclear power for its electricity generation, and the country has about 58 nuclear power reactors, whose infrastructure’s overall average age is 30 years.
Segments
The Europe nuclear reactor decommissioning market has been segmented on the basis of
Reactor Types
- Pressurized Water Reactor
- Boiling Water Reactor
- Gas Cooled Reactor
- Others
Applications
- Commercial Power Reactors
- Prototype Power Reactors
- Research Reactors
Capacities
- Below 100 MW
- Between 100 - 1000 MW
- Above 1000 MW
Geography
- The UK
- Germany
- Italy
- France
- Netherlands
- Rest of Europe
Key Players
Competitive Landscape
Key players competing in the Europe nuclear reactor decommissioning market are Fluor Corporation; GE Hitachi Nuclear Services; James Fisher and Sons PLC; Cavendish Nuclear Ltd, and Electricite de France SA.