Market Overview
The global nuclear decommissioning market reached a size of USD 7.2 Billion in 2024 and is expected to grow to USD 11.0 Billion by 2033. The market is projected to expand at a CAGR of 4.63% during the forecast period of 2025-2033. Growth is driven by factors such as the increasing utilization of renewable energy, decommissioning of ageing nuclear reactors, and enhanced focus on radioactive waste management.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Nuclear Decommissioning Market Key Takeaways
- The global nuclear decommissioning market size was USD 7.2 Billion in 2024.
- The market is forecasted to grow at a CAGR of 4.63% over 2025-2033.
- Rising utilization of renewable energy sources and increased shutdown of nuclear reactors drive growth.
- Europe leads the market, supported by stringent nuclear safety regulations and numerous ageing nuclear plants.
- Key market players are innovating with advanced robotics, remote handling, and waste management solutions.
- Growing demand for skilled professionals to safely manage complex decommissioning activities.
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Market Growth Factors
The nuclear decommissioning market is growing prominently due to the rising demand for renewable energy and the increasing number of ageing nuclear power plants nearing their operational lifespan. As renewable energy sources like solar and wind gain cost competitiveness, they create pressure for early decommissioning of nuclear plants. This shift is further encouraged by rising public awareness about nuclear safety and radioactive waste disposal, advocating cleaner and safer energy alternatives.
The market also benefits from the shutting down of nuclear reactors. According to the World Nuclear Association report of 2024, 107 reactors have been shut down globally in the past two decades. These shutdowns increase the number of nuclear decommissioning projects, driving demand for specialized decommissioning professionals and advanced dismantling technologies. Investment in R&D leads to safer, more efficient, and cost-effective decontamination, dismantling, waste management, and site remediation methods.
Radioactive waste management is an essential growth factor, with the global inventory of solid radioactive waste around 38 million m3, per the Pacific Northwest National Laboratory 2022 report. Strict regulatory frameworks require safe handling and disposal of radioactive waste generated during decommissioning. Compliance with evolving regulations fuels investments in innovative waste treatment and disposal technologies. Proper waste management is critical to ensuring public health and environmental safety, making it a focus area for regulatory bodies, environmental groups, and local communities.
Market Segmentation
By Reactor Type:
- Pressurized Water Reactor (PWR): Dominates the market as the most widely used technology globally, with many units reaching end-of-life requiring complex decommissioning and significant waste management.
- Boiling Water Reactor (BWR)
- Gas Cooled Reactor (GCR)
- Others
By Strategy:
- Immediate Dismantling: Holds the largest share, involving prompt removal of radioactive materials, allowing site reuse or redevelopment and lowering long-term financial liabilities.
- Deferred Dismantling
- Entombment
By Capacity:
- Upto 800 MW: Largest segment, older smaller reactors less economically viable, thus more likely to be decommissioned. Decommissioning challenges similar to larger reactors.
- 801 MW-1000 MW
- Above 1000 MW
Regional Insights
Europe leads the global nuclear decommissioning market, bolstered by its substantial number of ageing nuclear plants and stringent regulatory frameworks for nuclear safety. The World Nuclear Association notes that 36 nuclear reactors were shut down in the UK by 2024. European regulations mandate thorough planning and safety compliance, creating a robust environment for decommissioning activities.
Recent Developments & News
- October 31, 2023: Bechtel and Westinghouse expanded a partnership with the Czech Republic to supply four AP1000 reactors, an advanced nuclear technology.
- June 21, 2023: EnergySolutions announced project management support for U.S. nuclear plant life extension and new construction, aligning with 2050 net zero goals.
- September 16, 2024: Fortum's Nuclear Services signed multi-year agreement with the European Commission for expert reviews on decommissioning in Lithuania, Bulgaria, and Slovakia.
- December 18, 2024: Nuclear Regulation Authority approved changes to decommissioning plans for Chubu Electric Power’s Hamaoka Nuclear Power Station.
- December 17, 2024: AFRY signed a multi-year contract to support secure dismantling of nuclear facilities in Norway for the Norwegian Nuclear Decommissioning agency.
- May 9, 2023: GE Hitachi Nuclear Energy plans to sell Vallecitos Nuclear Center to NorthStar Group Services for site decontamination and restoration, pending regulatory approvals.
Key Players
- Aecom
- Babcock International Group PLC
- Bechtel Corporation
- Électricité de France S.A
- EnergySolutions
- General Electric Company
- James Fisher and Sons plc
- Northstar Group Services Inc.
- Ontario Power Generation Inc.
- Orano SA
- Studsvik AB
- Westinghouse Electric Company LLC
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