Global Nuclear Power Plant Testing & Certification Services Market Size (2023 – 2030)

The Global Nuclear Power Plant Testing & Certification Services Market is estimated at USD 238.21 Billion in 2024 and is anticipated to be a value of USD 370.18 Billion by 2030, growing at a fast CAGR of 6.5% during the forecast period 2024-2030.

The market for nuclear power plant testing and certification services is a niche sector that will increase in the future years. This expansion is being driven by the rising demand for nuclear power as an energy source, as well as the requirement for frequent testing and certification of nuclear power plants to maintain safety and regulatory compliance.The market for nuclear power plant testing and certification services may be divided into three categories depending on the services provided, which indulge testing and inspection, certification and accreditation, and others. The most often utilized services in the market are testing and inspection services, which consist of testing and inspection of nuclear power plant components, systems, and equipment. Nuclear power plant certification and testing and inspection organization accreditation are examples of certification and accreditation services.

Furthermore, Due to the rising demand for nuclear energy as an energy source as well as the necessity of routine testing and certification of nuclear power plants to ensure safety and compliance with regulations, the global market for nuclear power plant testing and certification services is anticipated to grow at a significant rate during the forecast period. Additionally anticipated to boost market expansion is the growing number of nuclear power plants operating globally, particularly in industrialized nations.

Global Nuclear Power Plant Testing & Certification Services Market Drivers:

Demand, safety, regulations, the number of plants, technology, and carbon-free energy are the main factors driving the market for testing and certification services for nuclear power plants.

The market for nuclear power plant testing and certification services is anticipated to be driven by the demand for nuclear power to meet the energy needs of the world. This is because nuclear power facilities must undergo regular testing and certification, to ensure safety and regulatory compliance. Authority rules and policies regulating the operations and maintenance of nuclear power plants, as well as the increasing number of nuclear power plants globally, notably in developed countries, also play an important role in driving this market. New testing and inspection approach have also been created as a result of technological advances, which further support the expansion of the market. Lastly, as countries exploring toreduce carbon emissions, nuclear power is viewed as a carbon-free source of energy, which is projected to drive the market for nuclear power plant testing and certification services.

Global Nuclear Power Plant Testing & Certification Services Market Challenges:

The market for nuclear power plant testing and certification services confronts problems such as safety issues and unfavourable public perception, which can make it harder to establish new nuclear power plants and hence reduce demand for these services. Also, the high cost of building and operating nuclear power plants might be a significant challenge for businesses in this market. Government laws governing the operation and maintenance of nuclear power facilities can be strict and difficult to comply with, adding to the obstacles faced by market players. Decommissioning and waste disposal are also significant difficulties for nuclear power plants, which may have an influence on the market for nuclear power plant certification and testing services.

Global Nuclear Power Plant Testing & Certification Services Market Opportunities:

The testing and certification services industry for nuclear power plants provides several opportunities:

• Growing Popularity of Small Modular Reactors (SMRs): Small Modular Reactors (SMRs) are expected to grow in popularity, opening up new business prospects for organisations that offer testing and certification services for nuclear power plants.
• Rise in nuclear power plant construction: The increased building of nuclear power plants in industrialized nations has created opportunities for businesses offering nuclear power plant testing and certification services.
• Expansion of the renewable energy industry: It is expected that the expansion of the renewable energy sector would increase demand for nuclear energy as a source of base-load electricity. This can benefit companies that provide testing and certification services for nuclear power facilities.
• New technology development: The market for testing and certification services for nuclear power plants offers potential for firms. New procedures for testing and inspecting nuclear power plant equipment, systems, and components are being developed.

COVID-19 Impact on Global Nuclear Power Plant Testing & Certification Services Market:

The COVID-19 pandemic has had a significant impact on the nuclear power plant testing and certification services market. Lock downs and supply chain issues have slowed down construction and maintenance projects, reducing the need for testing and certification services for nuclear power plants. Curfews and the closure of nonessential industries have also reduced the need for nuclear power as a source of energy. Supply chain interruptions have made development and maintenance work more challenging and influenced the availability of parts and types of equipment for nuclear power plants. In the market, there has been a significant bend towards remote inspection and testing, even though it is notable that some inspection and testing operations may be performed remotely to prevent the spread of COVID-19.

Global Nuclear Power Plant Testing & Certification Services Market Recent Developments:

• In May 2022, SGS announced the acquisition of AIEX, headquartered in Cherbourg, France. This change will enhance our offering of nuclear energy services. The acquisition of AIEX adds inspection services to existing test capabilities, assisting the progress of sustainable nuclear power generation in France and reducing dependence on fossil fuels.
• In October 2020, Intertek, a leading provider of quality characteristics and safety services, awarded BEINIT Energy, a leading provider of energy services, three ISO certifications for its integrated management systems.

NUCLEAR POWER PLANT TESTING & CERTIFICATION SERVICES MARKET REPORT COVERAGE:

Global Nuclear Power Plant Testing & Certification Services Market Segmentation:

Global Nuclear Power Plant Testing & Certification Services Market Segmentation: By Services

• Design certification
• Safety Analysis
• Testing and Inspection Services

The global nuclear power plant testing and certification services market is divided into three major categories: design certification, safety analysis, and testing and inspection services. Design certification entails ensuring that a nuclear power plant's blueprints fulfil industry standards and regulations. The process of assessing the potential hazards and dangers associated with a nuclear power plant is known as safety analysis. Testing and inspection services entail physically testing and inspecting various components of a nuclear power plant to ensure appropriate operation.

Global Nuclear Power Plant Testing & Certification Services Market Segmentation: By End-User

• Commercial Nuclear Power Plants
• Government-Owned Nuclear Power Plant

The global market for nuclear power plant testing and certification services is classified based on the end user. Commercial nuclear power plants and government-owned nuclear power plants are the two primary types. Private companies own and run commercial nuclear power facilities, whereas government organizations own and operate government-owned nuclear power plants. These two types of plants may have slightly different testing and certification procedures and restrictions.

Global Nuclear Power Plant Testing & Certification Services Market Segmentation: By Region

• North America
• Europe
• Asia Pacific
• Middle East
• Latin America

North America, Europe, Asia Pacific, the Middle East and Latin America represent the majority of the global nuclear power plant testing and certification services market. Due to changing market dynamics, each location offers unique opportunities for companies providing these services. North America has some of the largest and most advanced nuclear power plants in the world, while Europe has a long and well-established history of nuclear power generation. The Asia Pacific region is rapidly expanding, with many countries contributing tothe nuclear power sector. Furthermore, the market for nuclear power plant testing and certification services may differ based on factors such as the number of current nuclear power plants and the amount of contribution to future nuclear power plant projects.

Global Nuclear Power Plant Testing & Certification Services Market Key Players:

1. TUV SUD
2. SGS
3. Bureau Veritas
4. Intertek
5. Applus