UK Nuclear Power Reactor Decommissioning Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UK Nuclear Power Reactor Decommissioning Market Analysis
The United Kingdom nuclear power reactor decommissioning market is expected to rise at a CAGR of more than 5% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Over the medium period, increasing renewable energy installation, which is cheaper and cleaner, is expected to drive the United Kingdom nuclear power reactor decommissioning market during the forecast period.
- On the other hand, the high cost of decommissioning nuclear plants is expected to restrain the United Kingdom nuclear power reactor decommissioning market.
- Nevertheless, increasing the use of robots and artificial intelligence in the decommissioning of nuclear reactors is safer and will likely create several opportunities for the United Kingdom nuclear power reactor decommissioning market in the future.
UK Nuclear Power Reactor Decommissioning Market Trends
This section covers the major market trends shaping the UK Nuclear Power Reactor Decommissioning Market according to our research experts:
Commercial Power Reactor Expected to Dominate the Market
- Commercial power reactors are nuclear reactors that are mainly used for generating electricity. Most of these reactors are being installed in nuclear power plants. Moreover, increasing renewable energy from solar and wind is much cheaper and cleaner.
- The regulatory body for decommissioning nuclear plants is Nuclear Decommissioning Authority (NDA), a non-departmental public body created through the Energy Act 2004. The authority delivers the decommissioning activity through others, primarily Site Licence Companies (SLCs). Moreover, the agency is expected to achieve the end state for all nuclear sites by 2025.
- In 2021, the total electricity produced by nuclear energy in the United Kingdom was 45.9 terawatt-hours (TWh), which was lower than the previous generation of 50.3 TWh. The country, in recent years, has reduced the usage of nuclear energy to produce electricity. This, in turn, will likely create a massive demand for the nuclear reactor decommissioning market.
- The United Kingdom plans to build new reactors to replace its existing fleet and make up for the diminishing oil & gas reserves. The country is expected to be setting up around 16 GWe of installed nuclear capacity by 2030. This development is expected to be a long-term opportunity for the nuclear decommissioning market.
- In October 2022, The Nuclear Decommissioning Authority (NDA) signed a Memorandum of Understanding (MoU) with Cwmni Egino to support the development of a new small nuclear project in North Wales. As a result of the MoU, the NDA can share information and expertise regarding the characteristics of its land at Trawsfynydd, align decommissioning plans and site activities with the new nuclear project, and assist Cwmni Egino in engaging stakeholders and developing socio-economic plans.
- Hence, owing to the above points, the commercial power rector segment will likely dominate the United Kingdom nuclear power reactor decommissioning market during the forecast period.
Increasing Renewable Energy Expected to Drive the Market
- The increasing share of renewable energy in the country's total energy generation is for the country's plan to reduce its carbon footprint in the environment. Moreover, renewable energy sources being cheaper and safer are likely going to drive the nuclear power reactor decommissioning market.
- The scheme, such as renewable obligation (RO), is intended to encourage renewable electricity generation for large-scale installations. It requires suppliers to source an ever-increasing amount of electricity from renewable sources. The RO rewards renewable output over the lifetime of a project.
- In 2021, the total renewable energy installation capacity in the United Kingdom was 50.29 gigawatts (GW), greater than the country's installed capacity of 2020, 47.39 GW. The increasing capacity of renewable energy in the country exhibits a cheaper and safer form of generating electricity, which is expected to drive the nuclear power reactor decommissioning market.
- The country's Feed-in Tariff (FiT) is designed to support small-scale renewable installations up to 5MW. Through FiTs, generators are paid a tariff for every unit of electricity they produce. Any power not used on-site can also be sold back into the Grid, and generators are paid extra to do this.
- Hence, owing to the above points, increasing renewable energy is expected to drive the United Kingdom nuclear power reactor decommissioning market during the forecast period.
UK Nuclear Power Reactor Decommissioning Industry Overview
The United Kingdom nuclear power reactor decommissioning market is moderately fragmented. Some key players in this market (not in a particular order) include Babcock International Group PLC, James Fisher & Sons PLC, Fluor Corporation, Studsvik AB, and Orano Group., among others.
UK Nuclear Power Reactor Decommissioning Market Leaders
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Babcock International Group PLC
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James Fisher & Sons PLC
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Fluor Corporation
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Studsvik AB
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Orano Group
*Disclaimer: Major Players sorted in no particular order
UK Nuclear Power Reactor Decommissioning Market News
- In November 2022, The nuclear power division of Rolls-Royce selected four abandoned sites in Britain to construct a new fleet of microreactors. The Nuclear Decommissioning Authority, which manages some of Britain's first nuclear facilities, owns the four locations in England and Wales.
- In October 2022, The Welsh government and the British Nuclear Decommissioning Authority (NDA) decided to collaborate on creating a small-scale nuclear power facility in Trawsfynydd, North Wales. Through this collaboration, the NDA can share information and expertise about the characteristics of its Trawsfynydd property, align decommissioning plans and site activities with the new nuclear project, and assist Cwmni Egino in engaging stakeholders and developing socio-economic plans.
UK Nuclear Power Reactor Decommissioning Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Reactor Type
5.1.1 Pressurized Water Reactor
5.1.2 Pressurized Heavy Water Reactor
5.1.3 Boiling Water Reactor
5.1.4 High-temperature Gas-cooled Reactor
5.1.5 Liquid Metal Fast Breeder Reactor
5.1.6 Other Reactor Types
5.2 Application
5.2.1 Commercial Power Reactor
5.2.2 Prototype Power Reactor
5.2.3 Research Reactor
5.3 Capacity
5.3.1 Below 100 MW
5.3.2 100-1000 MW
5.3.3 Above 1000 MW
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 Babcock International Group PLC
6.3.2 James Fisher & Sons PLC
6.3.3 Fluor Corporation
6.3.4 Studsvik AB
6.3.5 Aecom
6.3.6 Orano Group
6.3.7 Bechtel Group, Inc.
6.3.8 SNC-Lavalin Group (Atkins)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
UK Nuclear Power Reactor Decommissioning Industry Segmentation
Decommissioning a nuclear installation, such as a power plant or research reactor, is the last step in its lifecycle. It involves activities ranging from the shutdown and removal of nuclear material to the environmental restoration of the site. The whole process involves several components and typically requires approximately 20 to 30 years to complete.
The nuclear power reactor decommissioning market is segmented by reactor type, application, and capacity. By reactor type, the market is segmented into pressurized water reactor, pressurized heavy water reactor, boiling water reactor, high-temperature gas-cooled reactor, liquid metal fast breeder reactor, and other reactor types. By application, the market is segmented into commercial power reactors, prototype power reactors, and research reactors. By capacity, the market is segmented below 100 MW, 100-1000 MW, and above 1000 MW. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| Reactor Type | |
| Pressurized Water Reactor | |
| Pressurized Heavy Water Reactor | |
| Boiling Water Reactor | |
| High-temperature Gas-cooled Reactor | |
| Liquid Metal Fast Breeder Reactor | |
| Other Reactor Types |
| Application | |
| Commercial Power Reactor | |
| Prototype Power Reactor | |
| Research Reactor |
| Capacity | |
| Below 100 MW | |
| 100-1000 MW | |
| Above 1000 MW |
UK Nuclear Power Reactor Decommissioning Market Research FAQs
What is the current United Kingdom Nuclear Power Reactor Decommissioning Market size?
The United Kingdom Nuclear Power Reactor Decommissioning Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in United Kingdom Nuclear Power Reactor Decommissioning Market?
Babcock International Group PLC, James Fisher & Sons PLC, Fluor Corporation, Studsvik AB and Orano Group are the major companies operating in the United Kingdom Nuclear Power Reactor Decommissioning Market.
What years does this United Kingdom Nuclear Power Reactor Decommissioning Market cover?
The report covers the United Kingdom Nuclear Power Reactor Decommissioning Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Nuclear Power Reactor Decommissioning Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
UK Nuclear Decommissioning Industry Report
Statistics for the 2024 UK Nuclear Decommissioning market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. UK Nuclear Decommissioning analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
