Uncategorized

Nuclear Decommissioning Market 2019 Research Report Overview of the Nuclear Facilities, Recent Growth Trends, Development, Challenges, Industry Scenario Analysis With Key Industry Players & Forecast 2025

Decommissioning in Europe

Nuclear energy has been one of the major contributors in the European energy mix contributing 27.2% in 2016. However, the governments in countries such as Germany, France, Spain, and others are planning to decommission some of their nuclear power plants.
According to Adroit Market Research, the global nuclear decommissioning market was valued at $37.5 billion and is expected to grow at a CAGR of 5.2% by 2027.
Nuclear power plants have an average operating lifetime ranging from 30-40 years. With most of Europe’s reactors installed in 1960s and 1970s, many are approaching this age and will require upgrades and life extensions to continue operating.

source:
https://www.neimagazine.com/features/featuredecommissioning-in-europe-7217338/

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.

Request sample copy of Nuclear Decommissioning Market at: https://www.adroitmarketresearch.com/contacts/request-sample/24  

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.

 1,383 total views,  3 views today

Leave a Reply

Your email address will not be published. Required fields are marked *