Global nuclear decommissioning market 2014-2018

A global nuclear decommissioning market will be estimated at around USD 15 billion by the end of 2018 thanks to rising demand for energy-efficient reactors and improved safety standards. However, the global market will remain competitive, with high costs of decommissioning nuclear power plants posing an increasing threat to the environment. This article will discuss key market trends and future prospects. Here, we will examine key players and their offerings in the global nuclear decommissioning market from 2014 to 2018.

Nuclear decommissioning services market comprises a variety of service providers

Which include global players and small and midsize enterprises. The key contracting agencies in the market include Areva Group in France, Babcock International Group in the U.K., Studsvik in Sweden, and AECOM in the U.S. Other major companies in the market are Siemens, KDC Contractors Limited, and Sogin S.p.

North America and Europe are the two largest regions in the market, with Asia-Pacific accounting for the highest share. In 2015, Germany dominated the European nuclear decommissioning market. Public concern over nuclear reactor safety may have contributed to its dominance. However, the Asia-Pacific region is expected to grow at a much faster pace as the number of nuclear power plants in this region continues to rise. The global nuclear decommissioning market will continue to grow as governments and companies realize the benefits of this new technology.

EnergySolutions has successfully decommissioned two reactors: Big Rock Point, a 67 MWe BWR, and LaCrosse, a 20 MWt experimental reactor. In the United States, it has signed up for the decommissioning of Three Mile Island 2 and San Onofre. In the UK, there is an ongoing project to decommission four nuclear power plants. The company will also work with other companies in the sector, such as Aecom and EnergySolutions, to decommission the plant.

The lack of early planning and execution can cause shutdown complications and extra costs. Furthermore, decommissioning plans must be established before key personnel leave the facility.

Failure to implement the planned shutdown can also erode safety margins. As a result, it is nearly impossible to gather a team of experts familiar with the facility after the final shutdown. If this is not done correctly, it could result in a catastrophic event.

Decommissioning involves the gradual removal of radioactive materials from nuclear facilities. The process may begin with the owner’s decision to write off the plant or to declare it permanently closed. The process involves the removal of used nuclear fuel from the reactor, the cleaning of radioactive components, and the disposal of all wastes. The process may take decades and involves both immediate and deferred dismantling of nuclear facilities.