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Find out moreInvestment in Welsh nuclear sector presents significant growth opportunity
G&T, with Siker Consultancy, conducted a capability study of Wales' nuclear supply chain for Cwmni Egino. Findings show that, if fully capitalised, sector opportunities could generate up to £9.4bn in investment between 2024 and 2039.
The study – Nuclear Supply Chain Capability Study: Wales – was commissioned to explore emerging opportunities for Welsh businesses in the nuclear sector. We analysed data from over 4,000 UK companies and found that 345 Welsh organisations currently active in the nuclear supply chain are generating approximately £160m in sales annually. Of these Welsh companies, 114 are based in North Wales, contributing £63m to the regional economy.
The study had four key focusses:
- The current Welsh nuclear supply chain, particularly active nuclear new build and waste decommissioning projects.
- The current regional opportunities and risks across Welsh supply chains taking into account a wide range of stakeholders and industries.
- The scale of opportunity assessed by comparing the nuclear supply chain’s capacity against a set of demand-based scenarios, as well as the potential impact on capacity of any future large-scale nuclear investment and growth in the region.
- The appetite for future opportunities in the nuclear supply chain as assessed by survey.
"Our research shows that the Welsh nuclear supply chain could see dramatic growth over the next 15 - 20 years. If all potential opportunities are realised annual supply chain spend in Wales could reach £1bn by the early 2040s."Daniel Kitchen
Senior associate, G&T
Key findings from the study include:
- The current Welsh nuclear supply chain is predominantly SME-based, with 72% being small or micro organisations.
- Over 10,900 Welsh companies have the potential to support nuclear sector activities.
- North Wales could capture up to £595m in annual supply chain spend by the early 2040s.
- Existing capability is centred around plant and equipment supply, maintenance, installation and waste management.
The study also highlighted several challenges that need addressing to realise this potential, including skills shortages, project pipeline uncertainty and barriers to entry for new suppliers.
While our study reveals significant opportunities for Welsh businesses in the nuclear sector, realising this potential requires addressing the key challenges. Given the scale of the opportunity, investments in supply chains could yield lasting economic value for Wales.