As of September 2017, over 110 commercial power reactors, 48 prototype reactors, over 250 research reactors, and numerous fuel cycle facilities have been taken out of operation, and the number is expected to increase further during the forecast period, 2018 - 2023.
Europe Expected to be one of the Leading Players in Nuclear Decommissioning
Several countries in the European Union (EU) are actively considering retracting nuclear power, due to the benefits of integrating renewable energy generators. After the Fukushima incident, countries, such as Germany and France, have taken drastic measures to phase-out their nuclear power programs. As of 2017, nuclear energy accounted for approximately 75% of the power generation in France. According to World Nuclear Association, about 17% of France's electricity is from recycled nuclear fuel. On the flip side, the nuclear power plants in France, which were initially built for 40 years of lifespan, are aging. France plans to close up to 17 nuclear reactors by 2025, which is in line with the nation’s aim to reduce the dependency on nuclear power by 50%. This is expected to increase the demand for nuclear-decommissioning services in France significantly. Similar growing focus on the usage of renewables and planned phase-out of nuclear energy, by various countries in the European Union, is expected to drive the nuclear decommissioning market in the European region, during the forecast period.
Increasing Decommissioning of Nuclear Power Plants Witnessed in the United States
The United States has 99 nuclear reactors, more than any other country, with 102 gigawatts of electricity generation capacity, which can power about 70 million homes. However, nuclear energy development in the United States has become almost entirely dormant in the past decade, due to the high upfront costs, at least partly created by stringent regulations and licensing requirements as well as competition from other energy sources. The US government is increasingly shifting away from nuclear energy and focusing on other alternative energy sources, primarily natural gas for their power generation needs. As of 2017, a total of 10 commercial nuclear reactors were successfully decommissioned in the United States, and another 20 reactors are currently in different stages of the decommissioning process, which is expected to increase the demand for nuclear-decommissioning services in the country significantly.
South Korea - New Market of Opportunity
South Korea began its nuclear decommissioning program in 2017. Decommissioning of country’s oldest reactor is undergoing a lengthy and costly process of being dismantled. It has only 17 technologies for nuclear decommissioning, and has not acquired 21 technologies related to decommissioning preparation, dismantling, decontamination, waste disposal, and environmental recovery. The country is looking to ramp up its efforts to develop technologies associated with decommissioning. South Korea is one of the new markets for nuclear decommissioning, and this creates an opportunity for foreign players to provide the necessary expertise the country needs, to phase out its nuclear energy associations.
Key Developments in the Market
- January 2018 - GNS-Westinghouse consortium won German Nuclear decommissioning contract.
- January 2018 - Tepco completed interior survey of damaged Fukushima Daiichi nuclear power plant in Japan.
- January 2018 - Toshiba agreed to the sale of its Westinghouse claims.
- November 2017 - ROSATOM and Brazilian state-owned companies signed a memorandum of understanding to cooperate in the nuclear energy sector.
Reasons to Purchase the Report
- Identify the drivers, restraints, and government rules and regulation supporting the demand for nuclear decommissioning services market
- Analyze the various business perspectives of the market with the help of Porter’s five forces analysis
- Identify the type of nuclear reactors dominating the demand for nuclear decommissioning market
- Identify regions witnessing fastest and most significant growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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2. Research Methodology
2.1 Scope of Study
2.2 Study Assumptions
2.3 Study Deliverables
2.4 Research Phases
3. Market Overview
3.2 Market Size and Demand Forecast until 2023
3.3 Government Policies and Regulations
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter’s Five Force Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitute Products & Services
6.5 Intensity of Competitive Rivalry
7. Market Segmentation & Analysis (Overview, Market Size and Demand Forecast in USD billion until 2023, Recent Trends & Developments)
7.1 By Reactor Type
7.1.1 Pressurized Water Reactor
7.1.2 Pressurized Heavy Water Reactor
7.1.3 Boiling Water Reactor
7.1.4 Gas Cooled Reactor
7.1.5 Fast Breeder Reactor
7.1.6 Other Reactors
7.2 By Application
7.2.1 Commercial Power Reactor
7.2.2 Prototype Power Reactor
7.2.3 Research Reactor
7.3 By Capacity
7.3.1 Below 100 MW
7.3.2 100 - 1000 MW
7.3.3 Above 1000 MW
8. Regional Market Analysis (Overview, Market Size and Demand Forecast in USD billion until 2023, Recent Trends & Developments)
8.1 North America
8.1.1 United States
8.2.3 South Korea
8.2.5 Rest of Asia-Pacific
8.3.6 United Kingdom
8.3.7 Rest of Europe
8.4 Middle East and Africa
8.4.2 Rest of Middle East and Africa
8.5 South America
9. Key Company Profiles* (Overview, Financials**, Products & Services, Recent Developments and Analyst View)
9.1 Babcock International Group PLC
9.2 James Fisher & Sons PLC
9.3 NorthStar Group Services, Inc.
9.4 Fluor Corporation
9.5 GE Hitachi Nuclear Services
9.6 Studsvik AB
9.7 WS Atkins Plc
9.8 Enercon Services, Inc.
9.9 Areva SA
9.11 Bechtel Group, Inc.
9.12 Westinghouse Electric Company
10. Competitive Landscape
10.1 Mergers and Acquisitions,
10.2 Joint Ventures Collaborations and Agreements
10.3 Strategies Adopted by Major Players
(*) List not Exhaustive (**)Subject to availability on public domain
- Babcock International Group PLC
- James Fisher & Sons PLC
- NorthStar Group Services, Inc.
- Fluor Corporation
- GE Hitachi Nuclear Services
- Studsvik AB
- WS Atkins Plc
- Enercon Services, Inc.
- Areva SA
- Bechtel Group, Inc.
- Westinghouse Electric Company