DUBLIN--(BUSINESS WIRE)--The "Global Nuclear Energy Services Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global nuclear energy services market is evaluated at US$7.068 billion for the year 2019 growing at a CAGR of 4.37% reaching the market size of US$9.136 billion by the year 2026.
The nuclear energy services market consists of developing regulatory frameworks, strategic recommendations, improvement in the operating model and entire nuclear energy value chain. The market is expected to witness a significant growth owing to the increase in the developments of nuclear power plants across the world. With increasing environmental concerns, a significant shift towards renewable resources has been witnessed and thus a rapid increase in its demand.
The nuclear energy services vary on the basis of regions. For instance, the regions like Asia, Middle East, and Eastern Europe where the industry is still in initial stages, the services provided there includes, helping owners to attract investors, develop nuclear portfolios and complete a project under budget and on time. Similarly, for the regions like North America, Western Europe, and other regions where the industries have developed to a certain level, the major services provided are operation of assets safely, reducing operational expenditure and plan & execute decommissioning. The services are an essential part for a better and more efficient operation of nuclear energy power plants.
These services help the nuclear power plants make informed decisions about the operational and business aspect of the plant. The services also varies from provider to provider. The package offered by some providers include some selected services whereas some do not have a package at all. The market is fuelled by rapid developments in the nuclear energy sector. According to the International Energy Agency (IEA), the global nuclear capacity has witnessed a steady growth during the years from 398 GW in 2014 to 443 GW in 2021. The organization predicts that if the projects that are under development still are completed according to the planned constructions, the capacity is expected to witness a significant rise in the coming years. For instance, according to the International Energy Agency, the two OECD countries with most capacity under development are Korea and United Kingdom with 6GW and 3.4 GW under construction respectively. Moreover, the construction of newer nuclear power plants is under construction and on schedule in the United Arab Emirates (UAE). The Hinkley Point C is the largest project that is under construction in the United Kingdom and the first for the country after 1995.
The advent of COVID-19 had an adverse impact on the market since the pandemic brought the activities in various industries to a standstill including the development of nuclear energy power plants across several countries and slowed the growth of nuclear energy services market to a significant level in the year 2020. With the industries getting back on the track and recovering after suffering losses due to the pandemic, the nuclear energy power plant projects that were unable to continue the processes due to lockdown are expected to resume in the coming months. The growth of the nuclear energy services market is expected to show gradual increase initially but is expected to witness rapid growth after the industries resume full-fledged activities during the forecast period owing to the increasing demand of the services across the world.
The segmentation of the renewable drones market has been done into service type and geography. By service type, the classification of the market has been done into engineering services. Consulting services, safety analysis services and others. Furthermore, on the basis of geography, the global market has been distributed as North America, South America, Europe, Middle East and Africa, and the Asia Pacific.
Companies Mentioned
- Intertek Group plc
- General Electric
- Fortum
- TWI Ltd
- Toshiba Energy Systems & Solutions Corporation
- EnergySolutions LLC
- BHI Energy
- Smart Nuclear Energy Solutions.
- VTT Technical Research Centre of Finland
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Nuclear energy services Market Analysis, by Service type
5.1. Introduction
5.2. Engineering services
5.3. Consulting services
5.4. Safety analysis services
5.5. Others
6. Nuclear energy services Market Analysis, by End-User
6.1. Introduction
6.2. Commercial
6.3. Industrial
7. Nuclear energy services Market Analysis, by Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/kmylvq
