About Spent Fuel and Nuclear Waste Management
Spent fuel is nuclear fuel that has been removed from a nuclear power or research reactor after it has been irradiated. It is a mix of plutonium, uranium, and waste that can no longer be used as fuel. It is extremely radioactive and produces a lot of heat, so it must be handled carefully. Nuclear waste is also referred to as reactor waste. Nuclear waste is the material that remains after nuclear fuel has been used in a reactor. Nuclear waste is classified into three types: low-level waste, high-level waste, and intermediate-level waste. Increasing energy demands, as well as a growing reliance on fossil fuels, will contribute to the growth of the global nuclear waste management market. There are several types of reactors used for nuclear waste management such as Pressurized Water Reactor, Boiling Water Reactor, Pressurized Heavy Water Reactor, and Gas-Cooled Reactor.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 1.5% |
The market of Spent Fuel and Nuclear Waste Management is fragmented as it consists of major as well as emerging players. They are looking for a new product launches or expansions to gain a competitive advantage in upcoming years. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Spent Fuel and Nuclear Waste Management market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Fluor Corporation (United States), Areva SA (France), Waste Control Specialists, LLC. (United States), Hitachi Zosen Corporation (Japan), Holtec International Inc., Mitsubishi Heavy Industries (Japan), Westinghouse Electric Company LLC, Bechtel Group Inc. (United States), Chase Environmental Group (United States) and Perma-Fix Environmental Services are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Magnox Technologies Pvt. Ltd., Veolia Environment SA, Studsvik AB, Enercon Services Inc., EnergySolutions, Stericycle, Inc. and Pangea Resources.
Segmentation Overview
AMA Research has segmented the market of Global Spent Fuel and Nuclear Waste Management market by Type (Low-level Waste, Intermediate-level Waste and High-level Waste) and Region.
On the basis of Type, Low-level Waste are dominating the market in the year 2023On the basis of geography, the market of Spent Fuel and Nuclear Waste Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Liquid will boost the Spent Fuel and Nuclear Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Reactor, the sub-segment i.e. Boiling Water Reactor will boost the Spent Fuel and Nuclear Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Nuclear Power Reactors will boost the Spent Fuel and Nuclear Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Installation of Pressurized Water Reactors and Growing Awareness Regarding the Benefits of Energy Derived From Alternative Sources
Market Growth Drivers:
Growing Awareness Regarding the Benefits of Energy Derived From Alternative Sources and Rising Demand Due to Growing Environmental Concerns
Challenges:
Growing Risk-Related With Transportation of Nuclear Waste
Restraints:
High Cost of Nuclear Waste Management System
Opportunities:
Rising Demand Due To Growing Environmental Concerns and Huge Demand Due To Regulations for Better Usage of Efficient Fuels
Market Leaders and their expansionary development strategies
In January 2018, Perma-Fix Environmental Services, Inc. has collaborated with the Italian National Agency for New Technologies, Energy and Sustainable Economic Development (ENEA) to advance a variety of technologies including the commercialization of Perma-Fix Medical, S.A.'s process to produce Technetium-99 (Tc-99m), the most widely used medical isotope in the world.
In August 2020, The US Department of Energy announced that it authorized the start of radioactive operations at the Salt Waste Processing Facility (SWPF) at its Savannah River Site (SRS). The first-of-a-kind facility is expected to process 31 million gallons of radioactive salt waste currently stored in underground tanks at the South Carolina location.
Key Target Audience
Spent Fuel and Nuclear Waste Management Providers, Industry Association, Downstream Vendors, Government Regularity Bodies, Private and Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.