The Spent Nuclear Fuel Waste Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Spent Nuclear Fuel Waste Management Global Market Report 2024, The spent nuclear fuel waste management market size has grown marginally in recent years. It will grow from $6.06 billion in 2023 to $6.18 billion in 2024 at a compound annual growth rate (CAGR) of 1.9%. The growth in the historic period can be attributed to nuclear power expansion, decommissioning of nuclear facilities, government regulations, public and environmental concerns, research and development initiatives.
The spent nuclear fuel waste management market size is expected to see marginal growth in the next few years. It will grow to $6.46 billion in 2028 at a compound annual growth rate (CAGR) of 1.1%. The growth in the forecast period can be attributed to recognition of long-term liabilities, increasing energy demand, growing safety concerns, economic considerations, climate change mitigation. Major trends in the forecast period include shifting disposal strategies, technology integration and advancements, public engagement and policy development, economic viability and private investment, strategic partnerships.
The increasing energy demand is expected to propel the growth of the spent nuclear fuel waste management market going forward. The energy demand refers to the total amount of energy required by a specific system or population within a defined timeframe. In situations where energy security becomes a major concern, countries might prioritize spent fuel management to reduce reliance on unstable foreign energy sources. This could lead to increased investment in reprocessing or other advanced waste management technologies. For instance, in August 2023, according to ExxonMobil, a US-based oil and gas company, global demand for energy is expected to reach about 660 quadrillion British thermal units (Btu) in 2050, reflecting a growth of about 15% compared to 2021. Therefore, the increasing energy demand is driving the growth of the spent nuclear fuel waste management market.
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The spent nuclear fuel waste management market covered in this report is segmented –
1) By Type: Low-level Waste, Intermediate-level Waste, High-level Waste
2) By Disposal Type: Near Surface Disposal, Deep Surface Disposal
3) By Source: Nuclear Fuel Cycle, Research, Medical, and Industrial Source, Military And Defense Programs
4) By Application: Boiling Water Reactors, Gas Cooled Reactors, Pressurized Water Reactors, Pressurized Heavy Water Reactors, Other Applications
Major companies operating in the spent fuel nuclear waste management are developing strategic partnerships to strengthen their position in the market. A strategic partnership is a collaborative relationship between two or more organizations, typically businesses that is formed to achieve mutually beneficial goals that would be difficult or impossible to achieve alone. For instance, in July 2023, Skanska, a Sweden-based construction company, signed a collaboration agreement with Svensk Kärnbränslehantering AB (SKB), a Sweden-based nuclear fuel and waste management company for the expansion of the existing final repository for short-lived radioactive waste (SFR) in Forsmark. Further, in August 2021, Orano SA, a France-based nuclear fuel cycle company, signed contracts with PreussenElektra, RWE, ENBW, and Vattenfall, Germany-based nuclear energy companies for the return of German waste. The return of the waste to Germany is expected to contribute to the safe and responsible management of radioactive materials and spent nuclear fuel.
The spent nuclear fuel waste management market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Veolia Environment SA
- Bechtel Corp.
- Fluor Corporation
- Westinghouse Electric Company LLC.
- SNC Lavalin Group Inc.
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The fuel assemblies, which involve dozens to hundreds of fuel rods each, are moved to pools of water to cool.
It contains plutonium, uranium or even thorium that has been permanently withdrawn from the nuclear reactor.
What's Trending in Market:Advanced and Innovative Technologies Nuclear PlantsChallenges:Maintaining a Certain Flexibility in the Management of Spent Nuclear FuelRestraints:High Processing CostMarket Growth Drivers:Stringent Government Regulations on Nuclear Fuel ManagementIncreasing Need for Nuclear Power GenerationGlobal Nuclear Spent Fuel Market Development Scenario by Players Ø Financials Information, Business Overview and Product Specification Matrix Ø Patent Analysis Briefing* [if applicable] Ø No.
of Patents Issuance by Year / by Players / By Issuing Office Ø Key Development – Product/Service Launch, Mergers & Acquisition, Joint Ventures Nuclear Spent Fuel Market Competition Each company profiled in the research document is studied considering various factors such as product and its application portfolios, market share, growth potential, future plans, and development activity.
Yes, we can add or profile new company as per client need in the report, provided it is available in our coverage list as mentioned in answer to Question 1 and after feasibility run final confirmation will be provided by research team checking the constraints related to difficulty of survey.
2) Can we narrow the available business segments?
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Research Nester published a report titled “Nuclear Waste Management Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global nuclear waste management market in terms of market segmentation by reactor type, waste type, application, and by region.Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.The global nuclear waste management market is estimated to occupy a large revenue by growing at a CAGR of ~3% during the forecast period, i.e., 2022 – 2030, owing to the rising population and urbanization around the world, and increasing government investments to establish nuclear power plants in developed and developing countries.
Apart from these, growing security concerns which is giving rise to the high development of nuclear weapons is also expected to provide ample growth opportunities to the market.The global nuclear waste management market is segmented by reactor type, waste type and application.
Based on waste type, the low-level waste segment is anticipated to grab the largest market share during the forecast period on the back of high amount of low-level waste generated from manufacturing facilities, hospitals and nuclear power stations.
Additionally, by application, the utility segment is projected to grab the largest share in the future ascribing to the increasing usage of nuclear energy to generate heat and electricity.Request Sample For More Information@ https://www.researchnester.com/sample-request-3331Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
Asia Pacific region is evaluated to witness noteworthy growth in the market over the forecast period attributing to the growing population, increasing establishment of nuclear power plants and high electricity demand in India and China.Rapid Population Growth and Urbanization to Expand MarketUrbanization and population growth are significantly associated with energy use.
This is considered to be a notable factor to boost market growth in the near future.However, issues associated with the transportation of nuclear waste is expected to operate as key restraint to the growth of the nuclear waste management market over the forecast period.This report also provides the existing competitive scenario of some of the key players of the global nuclear waste management market which includes company profiling of Perma-Fix Environmental Services, Inc., Augean Plc, Svensk Kärnbränslehantering AB, US Ecology, Inc., Ansaldo Energia S.p.A, Waste Control Specialists, LLC, Bechtel Corporation, Barlett Nuclear, Inc., BHI Energy, Energy Solutions, and others.
