Reportstack has announced a new market research report on Global Nuclear Decommissioning Market 2014-2018. Nuclear decommissioning is on the rise, with the Global Nuclear Decommissioning Market expected to post a CAGR of 14.1 percent from 2014-2018.
Public safety concerns are a major driver that have led to the decommissioning of many nuclear power plants worldwide. Additionally, environmentalists have expressed concern over the use of nuclear reactors, which will trigger an increase in nuclear shutdowns in the near future, thus propelling the growth of Global Nuclear Decommissioning Market.
The report focuses on the growing competition from renewable energy sources, which is edging out nuclear power. The Fukushima disaster compelled many countries to revoke nuclear development plans and opt for renewable power technologies like wind and solar. Growing subsidies, incentives and efficiency in technology have also reduced the cost per peak kilowatt for these technologies.
“France relies on nuclear power for more than 76 percent of power generation, but now the country is banking on renewable sources to meet lost nuclear capacity. The French government is increasing its renewable capacity to 40 percent by 2030,”.
Renewable power sources will continue to take market share away from nuclear energy, thus leading to more nuclear shutdowns over the projected period.
Complete report available @ Global Nuclear Decommissioning Market 2014-2018.