Global Nuclear Reactor Decommissioning Market - 2023-2030

Overview

Global Nuclear Reactor Decommissioning Market reached US$ 76.5 billion in 2022 and is expected to reach US$ 94.3 billion by 2030, growing with a CAGR of 2.7% during the forecast period 2023-2030.

The nuclear reactor decommissioning market is expected to be driven by growing by the approaching culmination of operational lifespans for numerous nuclear reactors and facilities worldwide, the safe and efficient decommissioning of these facilities is expected to become a significant growth sector in the coming years. The IAEA conference took place amid increasing global interest in decommissioning. Countries are looking to retire aging nuclear facilities and adopt new nuclear technologies to address challenges like reliable and low-carbon energy production to combat climate change.

Laurence Piketty, Deputy CEO of the French Atomic Energy Commission said, almost half of the current 400 + power reactors worldwide are projected to undergo decommissioning by 2050. A substantial portion of the existing nuclear fleet, around 50%, is expected to be retired by 2050. Over 200 nuclear power reactors have already been retired and numerous research reactors and fuel cycle facilities are likely to be shut down as well.

North America is the largest region in the nuclear reactor decommissioning market driven by government regulations such as Nuclear Regulatory Commission imposes stringent regulations governing nuclear power plant decommissioning to ensure the safety of workers and the public throughout and after the decommissioning process. With approximately 90 reactors operating under licenses that extend up to 60 years, U.S. nuclear industry faces unique challenges. Notably, several reactors have already been retired before their designated operational lifespan due to various factors, including economic considerations.

Dynamics

Advancing Technology Drives Nuclear Reactor Decommissioning Industry Evolution

The nuclear reactor decommissioning market is expected to be driven by growing technology and advancements. International Atomic Energy Agency has initiated a global effort to enhance the role of new and emerging technologies in the decommissioning process. With over two-hundred nuclear power reactors undergoing decommissioning and several operating ones expected to phase out in the coming decades, the industry is seeking to streamline and improve the process.

This effort aims to provide insights into new digital tools and technologies used for data management, planning, licensing and implementation of decommissioning. The nuclear reactor decommissioning industry is experiencing a technological breakthrough through cutting-edge innovations such as artificial intelligence, automation and digitalization. The technologies are expected to enhance efficiency, safety and cost-effectiveness in decommissioning projects. The importance of these advancements is highlighted by the fact that a significant portion of nuclear electrical generating capacity is projected to be retired by 2030.

Health and Environmental Concerns Drive Nuclear Reactor Decommissioning

The nuclear reactor decommissioning market is expected to be driven by growing health risks and environmental impacts. Ionizing radiation, a byproduct of nuclear reactions, poses health risks to both workers and the general population. The potential health hazards of exposure to ionizing radiation include immediate damage, radiation sickness and long-term effects such as cancer, cardiovascular disease and cataracts. The understanding of the health risks has led to a growing emphasis on decommissioning nuclear reactors as they reach the end of their operational lifetimes.

Moreover, the need to transition to cleaner and more sustainable energy sources has prompted the retirement of nuclear power plants and the subsequent decommissioning of these facilities. With the increasing focus on reducing carbon emissions and addressing climate change, the retirement of older nuclear reactors and the proper decommissioning of these facilities contribute to a more environmentally friendly energy landscape.

Impending Surge of Nuclear Facility Shutdowns

The nuclear reactor decommissioning market is significantly impacted by the impending surge in permanent shutdowns of nuclear facilities projected to occur by 2050. The surge necessitates substantial resources, encompassing both financial and human aspects, to successfully execute the complex decommissioning initiatives that could extend well into the next century. While funds for decommissioning costs have generally been earmarked during the operational phase for commercial facilities, a notable proportion of facilities rely on state resources, either directly or indirectly, to finance decommissioning endeavor.

The availability of adequate funding in such cases becomes a critical factor that could potentially introduce delays to the execution of these crucial decommissioning projects. The intricate nature of decommissioning programs necessitates professionals with expertise spanning various domains, including nuclear engineering and radioactive waste management. Engaging and attracting a young and talented workforce to embrace careers in decommissioning and radioactive waste management is emerging as one of the foremost obstacles confronting the industry.

Segment Analysis

The global nuclear reactor decommissioning market is segmented based on technology, reactor size, type, reactor type, phase and region.

DECON Dominance for Efficient and Swift Nuclear Reactor Decommissioning

DECON holds the largest share of decommissioning industry driven by it's immediate dismantling feature further enhances its efficiency by initiating the facility's deconstruction promptly after the removal of nuclear fuel rods and equipment, ultimately contributing to potential cost savings. DECON mitigates radiation hazards and prioritizes worker safety. Also, this process demands less long-term monitoring compared to other methods like Safstor, as the facility's prompt dismantling after material removal diminishes the need for prolonged oversight, making it a well-rounded and expedient choice for nuclear reactor decommissioning.

Moreover, DECON's primary focus on the removal of fuel and equipment translates into a reduction of potential radiation exposure for workers engaged in subsequent decommissioning activities. By prioritizing immediate dismantling and decontamination, the DECON process proves pivotal in swiftly managing a potential nuclear crisis, ensuring worker safety, minimizing radiation hazards and facilitating efficient disaster response coordination.

Geographical Penetration

North America Drives Nuclear Reactor Decommissioning Market Amid Energy Transition

North America is the largest region in the nuclear reactor decommissioning market driven by the need to address the challenges posed by early retirements, economic viability and the transition to cleaner energy sources while ensuring a sustainable and reliable energy future in the region. The region's pursuit of a sustainable and reliable energy future has led to its prominent position within this sector. The Inflation Reduction Act of 2022 introduced in U.S. has significantly enhanced the economic landscape of nuclear power generation. The legislation establishes a tax credit aimed at promoting zero-emission nuclear power, thereby intensifying the need for decommissioning existing nuclear reactors within the region.

The dismantling market in U.S. holds substantial potential due to the closure of multiple reactors. The projected increase in the number of nuclear facilities slated for permanent shutdown by 2050 underscores the demand for considerable resources, both financial and human, to effectively execute the complex decommissioning processes. As the energy landscape evolves, these specialized services become vital for ensuring safe, efficient and cost-effective decommissioning, contributing to the broader transition toward cleaner and more sustainable energy sources.

Competitive Landscape

The major global players in the market include: SNC-Lavalin Group, Westinghouse Electric Company, AECOM orano, Studsvik, Babcock International Group, Bechtel Corporation, EnergySolutions, Magnox Ltd and NorthStar Group Services.

COVID-19 Impact Analysis

COVID-19 made a significant impact on the nuclear reactor industry by inducing temporary shutdowns of some nuclear facilities to prevent the spread of the virus among workers and to protect their safety. The disruption in operations affected various stages of decommissioning, including planned outages and maintenance schedules. The reallocation of resources and manpower to manage pandemic-related challenges could have diverted attention and resources from decommissioning projects.

The pandemic disrupted global supply chains, affecting the availability of components and materials required for nuclear reactor construction, operation and decommissioning. It further contributed to delays in projects and operations. Governments and organizations prioritized pandemic response and safety, potentially affecting the pace of decommissioning efforts.

Russia-Ukraine War Impact

The Russia-Ukraine war made a significant impact on the nuclear reactor industry, the conflict has substantially disrupted decommissioning processes and cast a shadow of concern over nuclear facility safety and security. The immediate proximity of military actions to nuclear power plants has instigated fears of infrastructure damage, potential radiation leaks and even severe nuclear accidents.

The International Atomic Energy Agency has responded by closely monitoring the situation, providing technical support and underscoring the significance of international collaboration during times of turmoil. However, the conflict's ongoing nature has exacerbated uncertainty regarding the future of Ukraine's nuclear facilities. Decisions concerning reactor operation, decommissioning or potential closure are entwined with the geopolitical context and the resolution of the conflict.

By Technology

• Safe Storage (SAFSTOR)
• Decontamination (DECON)
• Other

By Reactor Size

• Large Reactors
• Small Reactors

By Type

• Immediate Dismantling
• Safe Enclosure
• Entombment

By Reactor Type

• Pressurized Water Reactor
• Gas-Cooled Reactor
• Fast Neutron Reactor
• Boiling Water Reactor
• Others

By Phase

• Pre-Decommissioning
• Decontamination & Dismantling (D&D)
• Waste Management
• Site Restoration
• Defueling & Storage
• Other

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• On January 11, 2023, Westinghouse Electric Company made a significant stride in the field of nuclear decommissioning by entering an agreement with Ignalinos Atomine Elektrine (IAE) to lead the decommissioning project of two RBMK-1500 nuclear power reactors at Ignalina Nuclear Power Plant (NPP) in Lithuania's Visaginas Municipality. The venture stands as a historic milestone as it marks the first-ever decommissioning of an RBMK reactor.
• In March 2023, orano Decommissioning Services (Orano DS) showcased an innovative approach to swift reactor dismantling at unit 3 of the Crystal River Nuclear Power Plant (CR3) in U.S. The method, known as the Optimised Segmentation process, is aimed at minimizing waste volume for disposal and reducing the amount of segmentation work on reactor structures. The process involves underwater segmentation, extraction and separation of reactor internals into categories, namely Greater-than-Class C (GTCC) waste and highly contaminated internal structures.
• In July 2023, a significant development occurred in the field of nuclear decommissioning as Cavendish Nuclear, along with joint venture partners Amentum and Fluor, secured the Portsmouth Gaseous Diffusion Plant Decontamination and Decommissioning Contract in Piketon, Ohio. The contract entails the demolition, disposal and decommissioning of facilities associated with the gaseous diffusion plant. Beyond facility dismantling, the joint venture aims to implement established technologies for water treatment and soil remediation, furthering the environmental cleanup process.

Why Purchase the Report?

• To visualize the global nuclear reactor decommissioning market segmentation based on technology, reactor size, type, reactor type, phase and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of nuclear reactor decommissioning market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global nuclear reactor decommissioning market report would provide approximately 77 tables, 81 figures and 211 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies