NEW YORK, Nov. 7, 2023 /PRNewswire/ -- The nuclear decommissioning services market in Europe is expected to grow by USD 1.84 billion from 2023 to 2028. However, the growth momentum of the market will progress at a CAGR of 5.7% during the forecast period. The market is segmented by application (research reactors and power reactors), and type (PWR, BWR, and others). The report analyses the market size and growth and provides accurate predictions on the growth of the market.
The growing government inclination toward renewable energy is a key factor driving market growth. Globally, governments are stepping up their efforts to deal with these concerns, given rising concerns over public safety and the inaccessibility of solutions for long-term disposal of radioactive waste. In addition, to support the use of renewables by consumers, governments are offering subsidies and schemes that feed-in tariffs (FITs). Hence, these factors are expected to drive market growth during the forecast period.
Key Highlights:
Market Dynamics:
Major Trend
Significant Challenge
Keg Segments:
The market share growth of the research reactors segment will be significant during the forecast period. During nuclear power reactors, the atoms of elements such as uranium235 or Plutonium239 are split to generate energy. To produce steam to generate electrical power, the energy created in this process is burned as heat. These power plants play a major role in Europe's overall energy mix because they provide an important number of capacity. Hence, these factors are expected to drive segment growth during the forecast period.
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The Rapid Thermal Processing Equipment Market size is estimated to grow at a CAGR of 6.39% between 2022 and 2027. The market size is forecast to increase by USD 259.56 million.
Nuclear Decommissioning Services Market In Europe Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.7% |
Market Growth 2024-2028 |
USD 1.84 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
5.23 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
ToC:
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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SOURCE Technavio