US Nuclear Plant Services Market Outlook 2028

Nuclear power plant services are the solutions provided to the nuclear power plants for improving its operation and life expectancy. There are various services offered by several leading companies to provide safe, economic, and reliable operations of nuclear plants. The U.S. nuclear plant services market is anticipated to grow with a CAGR of 3.65% during the forecast period, i.e., 2021-2028. Factors such as the growing decommissioning activities of nuclear power plants in the nation, along with the increasing demand for electricity on account of the growing urbanization and population in the United States are expected to drive the growth of the market during the forecast period. By the end of 2019, the nation recorded to have around 96 commercial nuclear reactors that were operational. On the other hand, around 40 reactors were recorded to be completely non-functional and therefore required maintenance. Further, about 90 more nuclear facilities were projected to be decommissioned y the end of 2040. Such factors are anticipated to drive market growth. The market, which recorded a value of close to USD 20,000 Million in the year 2019, is estimated to touch about USD 26,000 Million by the end of 2028.

The market is segmented by service into plant commissioning, operations management, laboratory management, safety & environmental services, emergency response services, modernization, decontamination & decommissioning, quality management, and others, out of which, in the year 2019, the plant commissioning segment recorded the largest market share of around 49%, whereas the decontamination & decommissioning segment is projected to grow with the highest CAGR of close to 5% throughout the forecast period. The market is also segmented on the basis of plant type into pressured water plant, boiling water plant, pressurized heavy water plant, gas-cooled plant, and others, out of which, the pressured water plant segment registered the largest market share in the year 2019 and is projected to attain a value of about USD 13,500 Million by the end of 2021.

Some of the key players of the U.S. nuclear plant services market are GE Hitachi Nuclear Energy (GEH), AECOM, Bechtel Corporation, BHI Energy, Westinghouse Electric Company LLC, EnergySolutions, Mitsubishi Nuclear Energy Systems, Inc., and others.