"Actionable Insights to Fuel Your Growth"
The world’s energy is increasing at a rapid pace, and available resources are not enough to meet the growing demand. Extremely high consumption of fossil fuel is causing a rise in greenhouse gas emission. These valuable resources are on the extinction path owing to its massive consumption. An alternative energy source is the only effective answer to this worrying situation.
Nuclear energy is one of the highly established technology to produce electricity. It offers not only high reliability but also saves a significant amount of fossil fuel. Nuclear energy comes from splitting atoms by fission process in reactor to heat water into steam in a bid to turn turbine to generate electricity. Recent technological advancement and economic development are expected to increase installation of nuclear power plant.
But radioactive content present in nuclear fuel is very harmful and toxic. Radioactive waste generated from nuclear power plant, hospitals, industries and highly sophisticated technology required for its disposal. Increasing nuclear waste is serious concern and needs to be addressed immediately to avert any ecological disturbance. An advanced nuclear waste management system is very essential for proper disposal of nuclear waste.
To gain extensive insights into the market, Request for Customization
Nuclear waste management market is segregated into waste type, reactor type, and by end-user. Waste type is divided into high-level waste, intermediate level waste, and low-level waste. High-level waste comprises 3% of the total volume of waste arising from nuclear generation, but it contains 95% of radioactive content. While low-level waste makes 90% of the total volume, but the radioactive content in this accounts only 1%.
High-level waste requires shielding and cooling whereas low-level waste can be handled without shielding. Based on reactor type, the market is further bifurcated into a pressurized water reactor, boiler water reactor, pressurized heavy water reactor, gas-cooled, and others. Pressurized water reactor accounts more than 60% of the market while boiling water reactor accounts around 16% of the total nuclear reactor market.
The nuclear power plant is one of the sophisticated alternatives to the traditional thermal power plant to mitigate global warming as a single nuclear power plant generator large amount of electricity. The technology is readily available and reliable which anticipating the growth of the nuclear waste management market.
The available technology is in the nascent stage, which inhibits the total disposal and processing of nuclear waste. Radioactive content poses a risk to the life of human being and causes environmental degradation which inhibits the growth of the nuclear waste management market.
The major players in the nuclear waste management market are Augean PLC, US Ecology, Inc, JGC Corporation, Perma-Fix Environmental Services, Inc., Stericycle, Veolia, Wood, Orano, Bechtel Corporation, BHI Energy, Cabrera Services Inc, Chase Environmental Group, Inc., DMT, Ecology Services, Inc., Energy Solutions, Holtec International, Waste Control Specialists LLC, Cyclife, and Viridor.
By Waste Type
By Reactor Type
The nuclear waste management market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. A substantial amount of electricity generation in the U.S. is from nuclear power plant which produces nuclear waste. This nuclear waste poses a serious risk to human beings and environment. The United States alone has over 90,000 tons of nuclear waste which need immediate action for its processing and disposal that will proliferate the nuclear waste management market in North America. European Union issues a directive for disposal of nuclear waste while decommissioning of nuclear power plant. France, Russia, Ukraine, etc. accounts more than 60% of the total installed nuclear power plant in Europe. Stringent environment regulation for the protection of environment and recent technological advancement in processing of nuclear waste is accelerating the growth of the nuclear waste management market in Europe. The enormous demand for electricity owing to proliferating industrial and commercial sector. Government authorities are pushing nuclear energy project to meet the increasing demand. China, India, Japan, South Korea, and other countries in Asia accounts 138 operable reactors with many projects in under-construction status. A rise in installation of nuclear power plant and need of effective waste management system is expected to drive the nuclear waste management market in Asia Pacific. Nuclear electricity generation capacity in MEA is expected to grow by 14.1GWe in 2028. UAE and Saudi Arabia are planning to install their first nuclear power plant and might expand nuclear projects in future which fuel the nuclear waste management market in MEA.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry