Aging Nuclear Power Plants to Augment the Nuclear Decommissioning Services Market Growth

 

Nuclear Decommissioning Services Market

Nuclear Decommissioning is a process by which a commercial nuclear power plant or nuclear energy facility is dismantled so that it does not require ongoing safeguards for radiation safety. The process of dismantling can either be done manually or by robotics depending on the complexity of the task. A large portion of the budget allotted for managing waste is for the clean-up and decontamination of the site following the dismantling process. It is therefore important that there is greater decay of nuclear waste to prevent contamination.

Market Dynamics:

Rising risk and security concerns about nuclear decommissioning services are one of the major factors expected to propel the growth of the nuclear decommissioning services market. For instance, in February 2021, the United Kingdom and Japan collaborated to work on safer automated ways to deal with nuclear waste. The project, named LongOps, aims to use long-reach robotic arms for faster and safer decommissioning of reactors in Fukushima, Japan and at Sellafield.

Moreover, stringent government regulations and favorable government initiatives to support nuclear decommissioning activities are expected to augment the growth of the nuclear decommissioning services market. For instance, in February 2021, the government of Crimea planned to demolish two diesel generator stations, the turbine hall, machine block foundation, pumping station, and the nuclear power plant's reactor compartment by the end of 2021.

Furthermore, aging nuclear power plants are expected to drive the nuclear decommissioning services market growth. For instance, in September 2018, Exelon Generation's Oyster Creek nuclear power plant (based in the United States) retired from service after 49 years of electricity generation. However, high cost of decommissioning is expected to restrain the growth of the nuclear decommissioning services market.

Competitive Analysis:

Major players operating in the nuclear decommissioning services market are Orana Group, Sogin S.p.A., Onet Technologies SAS, NUVIA Group, KDC Contractors Limited, Enercon Services Inc., Westinghouse Electric Company LLC, and AECOM, Babcock International Group Plc., and others.

In February 2021, ATS Automation Tooling Systems Inc. provided an update on its innovative nuclear decommissioning program for Holtec International, a diversified energy technology company and new ATS customer. The Order Booking was received in ATS' third quarter of fiscal 2021 and is expected to be delivered over the next 9 months.

In February 2021, the Nuclear Decommissioning Authority (NDA) has joined forces with a leading organization to ensure talented young people are attracted to the nuclear decommissioning industry.

In February 2021, Pickering launched study on decommissioning of Pickering Nuclear Generating Station.


Location: India

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