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The global nuclear decommissioning market analyst says a continuing trend which will have a positive impact on market growth is international cooperation to ensure nuclear safety. The dependence on nuclear power plant is reduced over a period owing to the disasters such as Fukushima and Chernobyl. Organizations such as the IAEA, the OECD's NEA, and the commission of the European communities share the experience, technology, and the knowledge about decommissioning among various countries.Complete report on nuclear decommissioning market spread across 88 pages, analyzing 4 major companies and providing 56 data exhibits is now available at http://www.rnrmarketresearch.com/global-nuclear-decommissioning-market-2016-2020-market-report.html
According to the nuclear decommissioning market report, a key growth driver is the worldwide shutdown of older reactors. At times, the upgradations asked to run the reactors tend to be too expensive to keep the reactors working. This normally is the case with older nuclear reactors that are already nearing the end of their lifetime.
The pressurized water reactor (PWR) segment occupied almost 85% of the market space to dominate the global nuclear decommissioning market in 2015. The typical decommissioning cost of PWR reactors is assumed to be around $600 million. The decommissioning market of PWR type reactors is likely to grow at a CAGR of around 35%. By 2020, the nuclear decommissioning market by PWR reactors is expected to reach 13,618 MWe and associated costs are expected to amount to more than $9 billion.
The following companies are the key players in the global nuclear decommissioning market: AECOM, AREVA, Babcock, Studsvik, and Westinghouse Electric. Other prominent vendors in the market are: Energy Solutions, Nuvia Group, Rosatom, EDF-Ciden, Javys, Enresa, and NDA. Order a copy of Global Nuclear Decommissioning Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=620449
The stringent regulations imposed after the Fukushima incident is the primary driving force behind growth in the market. Several governments across the world reviewed their nuclear power generation related regulations to ensure the safety of the reactor post-incident. In some countries such as Japan and Germany, the period of regular checks of the reactors was decreased so as to ensure timely action. Many countries have come up with updated regulations to enforce better safety standards on the nuclear reactors. During 2015, EMEA accounted for almost 63% of the market share to become the dominant shareholder in the global nuclear decommissioning market. Within EMEA, the countries where nuclear plants are slated for decommissioning within the forecast period are the Czech Republic, France, Germany, Hungary, Russia, Spain, Sweden, Switzerland, the UK, and Ukraine.
Growing international cooperation to ensure nuclear safety is the latest trend in the global nuclear decommissioning market. Organizations such as the International Atomic Energy Agency (IAEA), the Organization for Economic Co-operation and Development’s (OECD’s) Nuclear Energy Agency (NEA), and the commission of the European communities share the experience, technology, and the knowledge about decommissioning among various countries. The cooperation between such organizations is expected to make the decommissioning process easier. These international organizations are also sharing the issues and results of R&D with each other to foster a safe and clean environment,
Medium-sized and large suppliers dominate the global nuclear decommissioning market. The market in EMEA and the Americas is dominated by large and established players. APAC is not expected to see much growth in decommissioning technologies due to the lack of government initiatives in the region. Further, the report states that one challenge that is hampering market growth is the difficulty in disposing radioactive nuclear waste.
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Website: http://www.rnrmarketresearch.com/global-nuclear-decommissioning-market-2016-2020-market-report.html
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