The nuclear decommissioning service market in North America was valued US$ 1. 92 billion in 2019 and is projected to reach US$ 3. 35 billion by 2027; it is expected to grow at a CAGR of 7. 3% from 2020 to 2027.
New York, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Nuclear Decommissioning Service Market Forecast to 2027- COVID-19 Impact and Analysis by Reactor Type ; Strategy ; Application ; Capacity and Country" - https://www.reportlinker.com/p05953811/?utm_source=GNW
A majority of nuclear power plants generate electricity more than 1,000 MW. The continuously rising demand for electricity has propelled the evaluation of these plants over the years to push their capacity above 1,000 MW.
Several of the nuclear power plants in North America are nearing the end of the operational lifecycle or are being decommissioned.The factors considered while decommissioning these plants include the economic condition of the owner, extent of demand for renewable energy, and rise in concerns related to emission of radioactive materials.
Diablo Canyon (US) and Beaver Valley (US), which are among the nuclear power plants with capacity above 1,000 MW, are due for shutdown and decommissioning. The service providers offering decommissioning services to nuclear power plants with more than 1,000 MW generating capacity have lucrative opportunities to acquire high number of contracts.
The demand for nuclear power plants has been rising over the past few decades, owing to which the developers of commercial nuclear power plants are increasingly emphasizing on prototype reactors or research reactors to test the design and safety features.This has encouraged the development of the prototype and research reactors.
However, currently, numerous prototype or research reactors are being decommissioned as these reactors have reached the end of their respective operational lifespans.The cost of decommissioning these nuclear power plants is comparatively less, and the service providers generate low revenue of these tasks.
However, the nuclear power plants have the capability to generate electricity at a maximum cap of 1,000 MW. The demand for these nuclear power plants has been higher among the North American countries where the nuclear power sector is well established, and the demand for electricity is at a constant rise over the years. .
The decommissioning services market players offer their services to various types of reactors, which include pressurized water reactor (PWR), boiling water reactor (BWR), and gas cooled reactor (GCR).The companies adopt different types of strategies for dismantling and decommissioning of nuclear facilities, which include immediate dismantling, deferred dismantling (SAFSTOR), and entombment.
The application areas of nuclear decommissioning services market players include commercial power reactors, prototype reactors, and research reactors.The nuclear decommissioning services market comprises several well-established and financially balanced players.
AECOM; Ansaldo Energia; Babcock International Group Plc.; Betchel Corporation; EnergySolutions; GE Hitachi Nuclear Energy; Onet SA; Orano; Studsvik AB; Westinghouse Electric Company LLC; Sogin S.p.A; Fluor Corporation; Nuvia Limited; Northstar Group Services, Inc.; Atkins; PreussenElektra GmbH; NUKEM Technologies; GNS Gesellschaft fÃ¼r Nuklear-Service; Manafort Brothers Incorporated; and Korea Hydro & Nuclear Power are among the key companies operating in the North America nuclear decommissioning services market.
Read the full report: https://www.reportlinker.com/p05953811/?utm_source=GNW
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