South Korea Nuclear Decommissioning Services Market Size & Outlook
South Korea nuclear decommissioning services market, 2018-2030 (US$M)
Related Markets
South Korea nuclear decommissioning services market highlights
- The South Korea nuclear decommissioning services market generated a revenue of USD 446.4 million in 2023 and is expected to reach USD 582.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.9% from 2024 to 2030.
- In terms of segment, pwr was the largest revenue generating reactor type in 2023.
- PWR is the most lucrative reactor type segment registering the fastest growth during the forecast period.
Nuclear decommissioning services market data book summary
| Market revenue in 2023 | USD 446.4 million |
| Market revenue in 2030 | USD 582.9 million |
| Growth rate | 3.9% (CAGR from 2023 to 2030) |
| Largest segment | Pwr |
| Fastest growing segment | PWR |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PWR, BWR, PHWR, GCR |
| Key market players worldwide | Orion Group Holdings Inc, Babcock International Group PLC, Westinghouse Air Brake Technologies Corp, AECOM, Studsvik AB ADR, Bechtle AG |
Other key industry trends
- In terms of revenue, South Korea accounted for 5.5% of the global nuclear decommissioning services market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan nuclear decommissioning services market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 819.2 million by 2030.
Pwr was the largest segment with a revenue share of 39.11% in 2023. Horizon Databook has segmented the South Korea nuclear decommissioning services market based on pwr, bwr, phwr, gcr covering the revenue growth of each sub-segment from 2018 to 2030.
The nuclear decommissioning services market in South Korea is poised to witness substantial growth, driven by the country's strategic shift in energy policy and enhanced international collaborations.
In November 2023, Kinectrics established a significant decommissioning cooperation agreement with Korea Hydro & Nuclear Power Co. (KHNP), the operator of South Korea's nuclear fleet and a key nuclear power technology supplier.
This agreement aims to build on their existing collaboration by jointly developing capabilities for decommissioning Pressurized Heavy Water Reactors (PHWR) in South Korea, Canada, and globally. This partnership reflects South Korea's commitment to leveraging international expertise and advanced technologies to manage the complex decommissioning process effectively.
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Nuclear Decommissioning Services Market Scope
Nuclear Decommissioning Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea nuclear decommissioning services market size, by reactor type, 2018-2030 (US$M)
South Korea Nuclear Decommissioning Services Market Outlook Share, 2023 & 2030 (US$M)
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