Nuclear Decommissioning Services Market Size to Worth Around $11.69 billion by 2031 | Orana Group, AECOM

The global nuclear decommissioning services market size was valued at USD 198.67 billion in 2022

BURLINGAME, CALIFORNIA, UNITED STATES, July 29, 2024 /EINPresswire.com/ -- Market Overview:

Nuclear decommissioning services help in dismantling and safely disposing nuclear power plants and other nuclear facilities at the end of their operational lifespans. These services assist in removing radioactive contamination from the structure and equipment and help reduce the environmental risk of obsolete nuclear facilities.

Market Dynamics:

The nuclear decommissioning services market is expected to grow owing to the increasing number of ageing nuclear power plants across the globe, especially in Europe and North America. According to International Atomic Energy Agency (IAEA), there are currently 449 commercial nuclear power reactors operating in over 30 countries worldwide. Many of these plants have exceeded or are approaching their designed lifespans and are due for decommissioning in the forecast period. Additionally, stringent environmental regulations regarding the decommissioning and dismantling of nuclear power plants are also expected to boost the demand for these professional services. Strict rules ensure safe removal of radioactive contamination and minimize the risks of nuclear facilities, thereby propelling the market growth.

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Increasing Focus on Accelerated Decommissioning

There is a growing preference among nuclear power plant owners and governments towards completing the decommissioning process at a faster pace. The traditional method of deferred dismantling following a lengthy storage period is being replaced by immediate dismantling or entombment approaches to reduce long-term radioactive waste storage risks. Accelerated decommissioning also enables the early release of sites for other uses and lowers staff radiation exposure over the project duration. The shift to more rapidly demilitarize and decontaminate reactors presents new contracting opportunities for service providers with accelerated decommissioning capabilities.

Opportunity for Remote Inspection and Decommissioning Technologies

The development of advanced remote technologies provides new commercial opportunities for vendors in the nuclear decommissioning market. The deployment of remotely operated rovers, drones, robotic arms, and telesystems allows inspecting and dismantling radioactive components in a safer, faster, and more cost-effective manner compared to traditional manned interventions. Remote technologies help minimize human exposure to radiation while improving workflow efficiency. Leading service providers are actively investing in these innovative technologies to develop specialized solutions tailored for nuclear plant decommissioning and gain competitive advantages.

Rising Adoption of Complete Dismantling Approach

A key trend observed in the nuclear decommissioning services market is the rising preference towards the complete dismantling strategy over the previously adopted safe storage method. In the complete dismantling approach, the entire nuclear facility including the buildings and other infrastructure is dismantled and removed. This allows fully liberating the site for other non-nuclear uses but requires more upfront investment. Many operators are adopting this strategy to completely eliminate long-term radioactive hazards and formally relinquish regulatory obligation over the site. The increasing shift towards complete dismantling will further lift demand for integrated services across the decommissioning lifecycle in the coming years.

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Top Companies Included in This Report:

★ Orana Group
★ AECOM
★ Babcock International Group Plc
★ Westinghouse Electric Company LLC
★ Enercon Services Inc.
★ KDC Contractors Limited
★ NUVIA Group
★ Onet Technologies SAS
★ Sogin S.p.A.
★ others.

Market Segmentation:

Based on Product Type:

★ By Reactor Type: Pressurized Water Reactor (PWR), Boiling Water Reactor (BWR), Gas Cooled Reactor (GCR), Others (Pressurized Heavy Water Reactor (PHWR), etc.)
★ By Decommissioning Strategy: Immediate Dismantling, Deferred Dismantling, ntombment

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Latest Trends in the Navigation Nuclear Decommissioning Services Market:

💡 Surging Demand: Witness a rising demand for navigation Nuclear Decommissioning Services owing to the escalating usage of GPS-enabled devices and the imperative for precise, up-to-date mapping data.

💡 Innovations in Technology: Witness the emergence of novel technologies aimed at enhancing the precision and dependability of navigation Nuclear Decommissioning Services, encompassing real-time traffic updates, 3D mapping, and augmented reality.

💡 Tailored Solutions for Diverse Industries: Companies are tailoring navigation Nuclear Decommissioning Services solutions to cater to the distinct requirements of various sectors such as automotive, aviation, and maritime.

💡 Fusion with Emerging Technologies: Observe the integration of navigation Nuclear Decommissioning Services with cutting-edge technologies like artificial intelligence and the Internet of Things, facilitating the provision of advanced functionalities.

💡 Rise of Mobile Applications: Experience the proliferation of navigation Nuclear Decommissioning Services in the form of mobile applications, offering enhanced convenience and accessibility to users.

💡 Emphasis on Environmental Sustainability: Witness the development of navigation Nuclear Decommissioning Services systems that consider environmental factors such as traffic congestion and air quality, fostering the provision of sustainable transportation alternatives.

Frequently Asked Questions (FAQs) for Global Navigation Nuclear Decommissioning Services Market Research:

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Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

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