Industry Background:
Nuclear waste is also known as reactor waste. Nuclear waste is the material that nuclear fuel becomes after it is used in a reactor. There are three types of nuclear waste including low level waste, High-Level Waste and Intermediate-Level Waste. Increasing energy requirements as well as expanding dependency on Fossil Fuel will help to boost 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 |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Augean Plc (United Kingdom), BHI Energy (United States), Perma-Fix Environmental Services, Inc. (United States), Swedish Nuclear Fuel and Waste Management Co. (Sweden), US Ecology, Inc. (United States), Veolia Environmental Services (France), DMT (Germany), Waste Control Specialists, LLC. (United States) and North Wind Group (United States) |
According to AMA, the market for Nuclear Waste Management is expected to register a CAGR of 16.8% during the forecast period to 2027. This growth is primarily driven by Increasing Energy Requirements, Expanding Dependency on Fossil Fuel and Low Electricity Cost Will Encourage Economies to Develops More Nuclear Power Plants.
Globally, a noticeable market trend is evident High Installation of Pressurized Water Reactors
. The Enviromental & Waste Management sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Augean Plc (United Kingdom), BHI Energy (United States), Perma-Fix Environmental Services, Inc. (United States), Swedish Nuclear Fuel and Waste Management Co. (Sweden), US Ecology, Inc. (United States), Veolia Environmental Services (France), DMT (Germany), Waste Control Specialists, LLC. (United States) and North Wind Group (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 16th 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 commercialization of Perma-Fix Medical, S.A.'s process to produce Technetium-99 (Tc-99m), the most widely used medical isotope in the world.
April 2022, Posiva Oy of Finland has launched a modelling project on the groundwater chemistry in the bedrock. It led to the final disposal of used nuclear fuel far in the future using the most efficient computers. The company is responsible for the removal of used nuclear power. It is owned by Finnish nuclear utilities Fortum and Teollisuuden Voima Oyj.
Market Drivers
- Increasing Energy Requirements
- Expanding Dependency on Fossil Fuel
- Low Electricity Cost Will Encourage Economies to Develops More Nuclear Power Plants
Market Trend
- High Installation of Pressurized Water Reactors
- Growing Awareness Regarding the Benefits of Energy Derived From Alternative Sources
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
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Nuclear Waste Management Market
- Analysis about New Entrants in Nuclear Waste Management Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Nuclear Waste Management Study Sheds Light on
The Nuclear Waste Management Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Nuclear Waste Management industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Nuclear Waste Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.