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Global Nuclear Decommissioning Market to Thrive Post 2025

Global Nuclear Decommissioning Market to Thrive Post 2025

Summary

Nuclear power rose into prominence since early 1950s mainly due to high energy density of nuclear fuel compared to conventional fossil fuel alternatives. It is estimated that a 1000 MW nuclear reactor annually requires around 30 tons of fresh fuel compared to coal power plant of equivalent capacity consuming over two and half million tons of coal to produce as much electricity.

Presently there are over 450 operational nuclear power reactors in 30 countries all over the world contributing to about 10% of global electricity generation. The US alone boasts of 98 operational reactors, the highest in the world followed by France and China with 58 and 46 reactors respectively. Moreover, 55 reactors are in various stages of construction in various parts of the world with China topping the list with 11 reactors under construction, followed by India and Russia with 7 and 6 reactors respectively. France has highest share of nuclear power in its generation mix with over 70% of electricity generated from nuclear resources, followed by Slovakia at 61% and Ukraine at 53% even though the later countries have a smaller nuclear installed capacity compared to France. In 2018, global installed nuclear power capacity stood at 397GW accounting for 6% of the cumulative global installed power capacity. The share of nuclear capacity in the global energy mix is expected to go down to 5% of in 2020 and remain the same till 2030.

The Fukushima nuclear incident in 2011 raised a new question regarding the safety of nuclear reactors. As a result, Germany permanently shut down eight of its seventeen reactors and pledged to close the rest by end of 2022. The fear of potential nuclear fallout along with heavy financial burden of maintaining high safety standards coupled with the ongoing narrative of global warming and emissions reduction resulted in increased investment in renewable energy generation.

Scope

- The report discusses in detail the global nuclear decommissioning market.
- It further analyses the present nuclear decommissioning trends in light of the current industry developments.
- Identifies the key decommissioning market all over the world in the near future.

Reasons to buy

- To have an idea of the present nuclear decommissioning trends all over the world.
- Gain insight on the potential nuclear decommissioning markets likely to open up post 2025.
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Global Nuclear Decommissioning Market to Thrive Post 2025
Published By :GlobalData
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