Dublin, Jan. 22, 2021 (GLOBE NEWSWIRE) -- The "Asia Pacific Nuclear Decommissioning Service Market Forecast to 2027- COVID-19 Impact and Analysis by Reactor Type; Strategy; Application; Capacity and Country" report has been added to ResearchAndMarkets.com's offering.
The nuclear decommissioning service market in Asia-Pacific was valued US$ 1.22 billion in 2019 and is projected to reach US$ 1.80 billion by 2027; it is expected to grow at a CAGR of 5.1% from 2020 to 2027.
As the decommissioning of nuclear power plants is an expensive task, establishing a company to decommission these plants requires lump sum capital investments, massive manpower, and significant expertise. Therefore, the competitive landscape of this market in Asia-Pacific is majorly dominated by the well-established, industry-recognized, and financially balanced companies.
Prototype reactors are similar to commercial power reactors; however, these reactors are majorly developed for testing design features or newer safety features. According to several estimations, ~45 prototype reactors were shut down in 2017 in the world..
Unlike coal-based thermal power generation facilities, nuclear power plants do not depend on fossil fuels to generate electricity. This factor has attracted many governments toward the construction of nuclear power plants in developed and developing countries. According to the World Nuclear Association, ~55 new nuclear power plant construction activities are ongoing in countries such as China, Russia, India, and the UAE, and 48 new reactors are to be built and brought into operation by 2026.
There would be a high number of reactor construction activities in Asia-Pacific from 2020 to 2022, and China, India, and South Korea are likely to be frontrunners in this development. Moreover, several other countries are investing in advanced nuclear facilities, which pose significant opportunities for the nuclear decommissioning services market players.
Nuclear Regulatory Commission (NRC) and International Atomic Energy Agency (IAEA) are among the governing authorities that are increasingly emphasizing decommissioning to reduce the risk of radioactive emission from nuclear reactor sites. This factor is anticipated to drive the growth of the market in Asia-Pacific. According to IEA, a total of 411 nuclear power plants are set to be decommissioned by 2040 globally, comprising 295 commercial power plants and 116 research reactors.
AECOM, Ansaldo Energia S.p.A., Babcock International Group PLC, Bechtel Corporation, EnergySolutions, GE Hitachi Nuclear Energy (GEH), Orano, Studsvik AB, Fluor Corporation, and Korea Hydro & Nuclear Power Co. Ltd. are among the key companies operating in the Asia-Pacific nuclear decommissioning services market in this region.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Nuclear Decommissioning Services Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
5. Nuclear Decommissioning Services Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Upsurge in total older nuclear infrastructure during the later forecast period
5.2 Market Restraints
5.2.1 Strategic investment to increase the nuclear power plant operational years
5.3 Market Opportunities
5.3.1 Installation of automated solutions including robotics into decommissioning activities
5.4 Future Trends
5.4.1 Significant addition of newer nuclear power plants during the coming years
5.5 Impact Analysis of Drivers and Restraints
6. Nuclear Decommissioning Services - Asia-Pacific Market Analysis
6.1 Nuclear Decommissioning Services Market Overview
6.2 Nuclear Decommissioning Services Market - Revenue, and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Market Players Ranking
7. Nuclear Decommissioning Services Market Analysis By Reactor Type
7.2 Nuclear Decommissioning Services Market Breakdown, by Reactor Type, 2019 & 2027
7.3 Pressurized Water Reactor
7.4 Boiling Water Reactor
7.5 Gas Cooled Reactor
8. Nuclear Decommissioning Services Market Analysis By Strategy
8.2 Nuclear Decommissioning Services Market Breakdown, by Strategy, 2019 & 2027
8.3 Immediate Dismantling
8.4 Deferred Dismantling
9. Nuclear Decommissioning Services Market Analysis By Application
9.2 Nuclear Decommissioning Services Market Breakdown, by Application, 2019 & 2027
9.3 Commercial Power Reactor
9.4 Prototype Reactor
9.5 Research Reactor
10. Nuclear Decommissioning Services Market Analysis By Capacity
10.2 Nuclear Decommissioning Services Market Breakdown, by Capacity, 2019 & 2027
10.3 Below 100 MW
10.4 - 1,000 MW
10.5 Above 1,000 MW
11. Nuclear Decommissioning Services Market - Geographic Analysis
11.1 APAC: Nuclear Decommissioning Services Market
12. Impact of COVID-19 Pandemic on Global Nuclear Decommissioning Services Market
12.1.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.2 Market Initiative
13.3 New Product Development
13.4 Merger and Acquisition
14. Company Profiles
Ansaldo Energia S.p.A.
Babcock International Group PLC
GE Hitachi Nuclear Energy (GEH)
Korea Hydro & Nuclear Power Co. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/ss6za1
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