The nuclear decommissioning market size is likely to rise at a CAGR of over 5.0% from 2018 to 2025. Strengthening of the government policies towards shutdown and dismantling of nuclear power plant operations have adversely impacted the nuclear energy sector over the recent years. Enhancement of renewable energy targets for catering to the ever increasing electricity demand has begun to overshadow the nuclear power generation industry. These factors coupled with the occurrence of the Fukushima Daiichi nuclear disaster have favored the development of the nuclear decommissioning industry, further resulting in rapid shutdown and phase out of pressurized water, boiling water, and other reactors worldwide.
The nuclear decommissioning industry report provides an exhaustive combination of qualitative and quantitative insights from 2016 to 2047. The nuclear decommissioning market has been segmented on the basis of reactor type and region respectively. The segmentation by reactor type covered in the report includes estimates and analysis from 2016 to 2027.
The advent of the nuclear decommissioning market especially in the U.S. has intensified the competition between industry players with implementation of growth strategies mainly including mergers, acquisitions and joint ventures. Some of the growth strategies utilized by key players in the U.S. nuclear decommissioning market include:
- In 2017, Areva SA and NorthStar Group Services, Inc. formed a joint venture namely “Accelerated Decommissioning Partners (ADP)” for acquisition and decommissioning of shutdown nuclear reactors in the U.S. This strategy is anticipated to fast-track the U.S. nuclear decommissioning market size over the years ahead.
- In 2018, The Vermont Public Utility Commission based in U.S. approved the sale of its Vermont Yankee nuclear power plant to NorthStar Group Services, Inc. This sale has been initiated as a consequence of NorthStar’s commitment to decommission the plant prior to the schedule. This strategic move is projected to boost the company’s position in the U.S. nuclear decommissioning market over the years ahead.
- By the end of 2018, GE Hitachi Nuclear Energy has announced its plans to acquire the decommissioning technology business assets of REI Nuclear LLC, a U.S. company based in Columbia and South Carolina. This acquisition is likely to enable GE Hitachi to strengthen its supply chain in the rapidly developing U.S. nuclear decommissioning market in the future.