All updated as on -
The market size for nuclear waste management was estimated at USD 5.9 billion in 2021. The market for managing nuclear waste is anticipated to increase from USD 6.5 billion in 2022 to USD 7.4 billion in 2030, with a compound annual growth rate (CAGR) of 3.80% from 2023 to 2030. The primary market factors credited with the expansion are the tight rules and regulations to restrict radioactive emissions internationally and mandate higher investments in nuclear power plants. A wide range of nuclear decommissioning projects are what are driving the market for nuclear waste management.
In response to growing concerns about national security, governments all around the world are boosting spending for military expenditures. To bolster their armed forces, nations including the US, China, Russia, France, the UK, India, Israel, South Korea, and Iran have developed nuclear weapons. There were around 13,000 nuclear weapons in existence at the start of 2021, down from 13,400 in 2020 when some of the warheads were retired. Despite a decrease in the number of nuclear weapons, the projected number of weapons deployed with operational soldiers increased from 3,720 to 3,825 during the past year. The International Campaign to Abolish Nuclear Weapons (ICAN) estimates that the nuclear powers spent $72.6 billion on nuclear weapons in 2020, an increase of US$1.4 billion from the previous year. The production of low- and intermediate-level radioactive waste from the construction and dismantling of nuclear weapons is sufficient. The market for nuclear waste management is growing as a result of the rapid development and decommissioning of nuclear weapons. As a result, this element is fueling the market CAGR.
Additionally, there are several industries that utilise radiation, including the production of nuclear weapons for use in national defence and as fuel for nuclear power plants. These processes generate radioactive waste, which must be disposed of effectively and safely. Because the high-level nuclear waste will remain extremely radioactive for tens of thousands of years, it needs to be disposed of in order to be kept safely apart for a very long period. Waste may need to be permanently held if there is no way to dispose of it in a repository. The long-term disposal of this material is aided by the management of nuclear waste, nevertheless.
The three main types of nuclear waste are high-level, transuranic, and low-level, and each type must be disposed of in a particular way based on the threat it poses to the environment and to human health. Due to the stringent standards and guidelines being implemented globally to reduce dangerous nuclear emissions, more money needs to be invested in nuclear power plants. The Department of Energy (DOE) is in charge of the treatment and disposal of radioactive waste from the US nuclear weapons project. Over 85,000 metric tonnes of spent nuclear fuel are stored at the country's commercial nuclear power plants. The DOE is required to deposit this high-level waste in a long-term geologic repository. The US federal government has already paid utilities billions of dollars in damages for improper waste disposal and may still owe them tens of billions of dollars in the coming decades. Certain types of high-level mixed waste must be vitrified, or immobilised in glass, and disposed of in a deep geologic deposit, according to federal law. As a result, it is projected that this factor will fuel worldwide nuclear waste management market growth.
Report Coverage
Global Nuclear Waste Management research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Nuclear Waste Management report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Nuclear Waste Management competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Nuclear Waste Management market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Nuclear Waste Management market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Nuclear Waste Management market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Enercon (US), Veolia (France), US Ecology Inc. (US), Posiva Oy (Finland), Stericycle Inc. (US), John Wood Group PLC (UK), Perma-Fix (US), Bechtel Corporation (US), Fluor Corporation (US)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Nuclear Waste Management market based on the below-mentioned segments:
Global Nuclear Waste Management Market, By Type
Low-Level Waste
Intermediate-Level Waste
High-Level Waste
Global Nuclear Waste Management market, By Application
Pressurized Water Reactor
Boiling Water Reactors
Gas-Cooled Reactors
Pressurized Heavy Water Reactor
Global Nuclear Waste Management market, Regional Analysis
In response to growing concerns about national security, governments all around the world are boosting spending for military expenditures. To bolster their armed forces, nations including the US, China, Russia, France, the UK, India, Israel, South Korea, and Iran have developed nuclear weapons. There were around 13,000 nuclear weapons in existence at the start of 2021, down from 13,400 in 2020 when some of the warheads were retired. Despite a decrease in the number of nuclear weapons, the projected number of weapons deployed with operational soldiers increased from 3,720 to 3,825 during the past year. The International Campaign to Abolish Nuclear Weapons (ICAN) estimates that the nuclear powers spent $72.6 billion on nuclear weapons in 2020, an increase of US$1.4 billion from the previous year. The production of low- and intermediate-level radioactive waste from the construction and dismantling of nuclear weapons is sufficient. The market for nuclear waste management is growing as a result of the rapid development and decommissioning of nuclear weapons. As a result, this element is fueling the market CAGR.
Additionally, there are several industries that utilise radiation, including the production of nuclear weapons for use in national defence and as fuel for nuclear power plants. These processes generate radioactive waste, which must be disposed of effectively and safely. Because the high-level nuclear waste will remain extremely radioactive for tens of thousands of years, it needs to be disposed of in order to be kept safely apart for a very long period. Waste may need to be permanently held if there is no way to dispose of it in a repository. The long-term disposal of this material is aided by the management of nuclear waste, nevertheless.
The three main types of nuclear waste are high-level, transuranic, and low-level, and each type must be disposed of in a particular way based on the threat it poses to the environment and to human health. Due to the stringent standards and guidelines being implemented globally to reduce dangerous nuclear emissions, more money needs to be invested in nuclear power plants. The Department of Energy (DOE) is in charge of the treatment and disposal of radioactive waste from the US nuclear weapons project. Over 85,000 metric tonnes of spent nuclear fuel are stored at the country's commercial nuclear power plants. The DOE is required to deposit this high-level waste in a long-term geologic repository. The US federal government has already paid utilities billions of dollars in damages for improper waste disposal and may still owe them tens of billions of dollars in the coming decades. Certain types of high-level mixed waste must be vitrified, or immobilised in glass, and disposed of in a deep geologic deposit, according to federal law. As a result, it is projected that this factor will fuel worldwide nuclear waste management market growth.
Report Coverage
Global Nuclear Waste Management research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Nuclear Waste Management report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Nuclear Waste Management competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Nuclear Waste Management market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Enercon (US), Veolia (France), US Ecology Inc. (US), Posiva Oy (Finland), Stericycle Inc. (US), John Wood Group PLC (UK), Perma-Fix (US), Bechtel Corporation (US), Fluor Corporation (US) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Nuclear Waste Management Market from 2021 to 2030.
- Market Forecast for Nuclear Waste Management Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Nuclear Waste Management competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Nuclear Waste Management
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Nuclear Waste Management market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Nuclear Waste Management market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Enercon (US), Veolia (France), US Ecology Inc. (US), Posiva Oy (Finland), Stericycle Inc. (US), John Wood Group PLC (UK), Perma-Fix (US), Bechtel Corporation (US), Fluor Corporation (US)
Primary Target Market
- Market Players of Nuclear Waste Management
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Nuclear Waste Management market based on the below-mentioned segments:
Global Nuclear Waste Management Market, By Type
Low-Level Waste
Intermediate-Level Waste
High-Level Waste
Global Nuclear Waste Management market, By Application
Pressurized Water Reactor
Boiling Water Reactors
Gas-Cooled Reactors
Pressurized Heavy Water Reactor
Global Nuclear Waste Management market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive nuclear waste management market market research and competitor analysis for your business to help you develop more profound insights into the nuclear waste management market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the nuclear waste management market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.