Nuclear Decommissioning Services Industry 2020 is excepted to reach US$ 9.43 billion by 2027

 As large number of nuclear power plants are nearing the end of the operational timeline, the operators and the governments are planning to decommission the facilities, which is driving the growth of nuclear decommissioning services market. In the recent scenario, the decommissioning of nuclear facilities is outpacing the construction of newer facilities across the major regions around the globe. 

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According to the World Nuclear Industry Status Report (WNISR), during the mid-2018, 115 nuclear reactors have been decommissioned, and approximately 70% of the world's nuclear reactors, which accounts to 173 reactors, have been permanently shut down. These statistics showcase the demand for decommissioning services, which is catalyzing the nuclear decommissioning services market. The average lifespan of nuclear power plants across the globe is 30 years; however, with refurbishments, several numbers of facilities continue to operate for another 20-30 years. Owing to the fact that the majority of the governments are inclined toward the construction of newer nuclear facilities with advanced technologies, the focus on decommissioning of older facilities is increasing,  which is increasing the involvement of decommissioning service providers in the industry.

Geographically, several countries have laid-down their roadmaps and plan to decommission the nuclear facilities. For instance, in Europe, Germany, Spain, and Belgium are aiming to decommission its ageing nuclear power facilities by mid-2020s-2030s completely. France declared its plans to shut down 14 of 58 nuclear reactors by 2035. The UK is expected to decommission all 15 reactors by 2030. Moreover, in Asia, Japan is expected to shut down its 6 nuclear power plants by 2030, while South Korea has announced its plans to decommissioning 6 of 24 reactors by mid-2020. These figures showcase the demand for decommissioning services, which is anticipated to propel the nuclear decommissioning services market over the years.