Nuclear Decommissioning Services Market in Europe 2018-2022 | Key Insights into the Market | Technavio
LONDON--(BUSINESS WIRE)--Aug 22, 2018--The nuclear decommissioning services market in Europe is expected to post a CAGR of nearly 30% during the period 2018-2022, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
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Technavio has published a new market research report on the nuclear decommissioning services market in Europe from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing government inclination toward renewable energy. With the growing concerns of public safety and unavailability of sustainable nuclear waste disposal solutions, governments around the globe have increased their efforts to address the concern surrounding this matter. Governments need to take initiatives as a response to the growing number of health and environmental hazard concerns, resulting in many reforms in the energy policies of nations. These reforms have resulted in a strong inclination toward increasing the contribution of renewable energy to the energy mix of the European nations.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the use of robotics in decommissioning services as one of the key emerging trends in the nuclear decommissioning services market in Europe:
Nuclear decommissioning services market in Europe: Use of robotics in decommissioning services
According to the International Energy Agency, nearly 200 nuclear reactors are expected to shut down in the next 25 years, out of which many are in Europe. This signifies that a lot of work will have to be done, especially when there are few vendors available in the market that offer complex and dangerous decommissioning services. The processes involved in decommissioning are very risk-prone and any minor incident could lead to severe health disorder for the participating professionals involved in the process.
“The use of robotics in decommissioning has reduced the contamination and personnel risk by a larger extent and are economically viable as well. With the upcoming shutdown of multiple reactors in the region, robotics devices are expected to accelerate the growth of the nuclear decommissioning services market in Europe during the forecast period,” says a senior analyst at Technavio for research on power.
Nuclear decommissioning services market in Europe: Segmentation analysis
This market research report segments the nuclear decommissioning services market in Europe by geographical regions, including Germany, Spain, and Sweden. Germany led the market in 2017 with a market share of nearly 58% followed by Sweden and Spain.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 08/22/2018 08:31 AM/DISC: 08/22/2018 08:31 AM