Nuclear Waste Management Market to Reach $5.7 Billion, Globally, by 2032 at 1.9% CAGR: Allied Market Research

The global nuclear waste management market is experiencing growth due to factors such as radioactive hazard mitigation and environment protection, volume reduction & long-term solutions, resource conservation, and energy generation

PORTLAND, Ore., Aug. 3, 2023 /PRNewswire/ -- Allied Market Research published a report titled, "Nuclear Waste Management Market by Waste Type (Low-Level Waste, Intermediate-Level Waste, and High-Level Waste), Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Gas Cooled Reactor, and Pressurized Heavy Water Reactor), and by Disposal Method (Incineration, Storage, Deep Geological Disposal, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global nuclear waste management industry generated $4.8 billion in 2022 and is estimated to reach $5.7 billion by 2032, exhibiting a CAGR of 1.9% from 2023 to 2032.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/2214

Prime Determinants of Growth:

The global nuclear waste management market is experiencing growth due to factors such as radioactive hazard mitigation and environment protection, volume reduction and long-term solutions, resource conservation, and energy generation. However, the environmental risk and radioactive hazards, the rise in awareness and public perception, and the high cost and stringent regulations restrain market growth to some extent. Nevertheless, technological advancements for energy conservation and economic development are expected to provide ample growth opportunities throughout the forecast period.

Report Coverage & Details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$4.8 billion

Market Size in 2032

$5.7 Billion

CAGR

1.9 %

No. of Pages in Report

300

Segments Covered

Waste Type, Reactor Type, Disposal Method, and Region

Drivers

Radioactive hazard mitigation and environment protection

Volume reduction and long-term solutions

Resource conservation and energy generation

Opportunities

Technological advancements for energy conservation

Economic Development

Restraints

Environmental risk and radioactive hazards

Rise in awareness and public perception

High cost and stringent regulations

The high level waste segment is projected to maintain its dominance throughout the forecast period-

By waste type, the high level waste segment held the highest market share in 2022, accounting for more than one-third of the global nuclear waste management market revenue, and is expected to maintain its dominance throughout the forecast period. The same segment would also showcase the fastest CAGR of 2.1% during the forecast period. High-level nuclear waste (HLW) refers to highly radioactive materials that are produced as a result of nuclear fuel reprocessing or spent fuel from nuclear power plants. HLW contains long-lived radionuclides and poses significant risks to human health and the environment, requiring strict management measures.

Procure Complete Report (300 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/nuclear-waste-management-market

The pressurized water reactor segment is expected to maintain its leadership status during the forecast period-

By reactor type, the pressurized water reactor segment held the highest market share in 2022, accounting for nearly two-fifths of the global nuclear waste management market revenue, and is expected to maintain its leadership status during the forecast period. The same segment would also display the fastest CAGR of 2.1% during the forecast period. Pressurized Water Reactors (PWRs) are a common type of nuclear reactor used in commercial nuclear power plants. The management of nuclear waste generated from PWRs involves several key steps and considerations. The primary waste generated in PWRs is spent fuel, which consists of fuel assemblies that no longer sustain a chain reaction. The spent fuel is stored in the pools for several years to allow the heat and radioactivity to decrease.

The deep geological disposal segment is expected to maintain its lead position during the forecast period-

By disposal method, the deep geological disposal segment held the highest market share in 2022, accounting for more than two-thirds of the global nuclear waste management market revenue, and is expected to maintain its lead position during the forecast period. The same segment would also cite the fastest CAGR of 2.0% during the forecast period. Deep geological disposal is a method used for the long-term management and disposal of high-level radioactive waste (HLW) and some types of intermediate-level waste (ILW). It involves placing the waste deep underground in specially designed repositories located in stable geological formations. Deep geological disposal facilities undergo rigorous safety assessments to evaluate the long-term performance and containment of the waste. Regulatory bodies establish stringent regulations and oversight to ensure compliance and protect human health and the environment.

For Purchase Inquiry: https://www.alliedmarketresearch.com/nuclear-waste-management-market/purchase-options

Asia-Pacific region to garnered the market by 2032-

By region, Asia-Pacific held the highest market share in 2022, garnering more than two-fifths of the global nuclear waste management market revenue, and is expected to maintain its dominance throughout the forecast period. Japan has been actively pursuing a geological repository site selection process, while China is in the early stages of repository planning. International cooperation and knowledge sharing play an important role in nuclear waste management in the Asia-Pacific region. Countries collaborate through organizations such as the International Atomic Energy Agency (IAEA) to share best practices, conduct research, and develop international guidelines and standards for waste management. However, the Europe region is expected to witness the fastest CAGR of 2.2% from 2023 to 2032. Nuclear waste management in Europe involves the handling, storage, treatment, and disposal of radioactive waste generated from nuclear power plants, research facilities, medical institutions, and other sources of nuclear technology. Reprocessing of nuclear waste has been practiced in some European countries, including France and the United Kingdom. Several countries, including Sweden, Finland, France, and Switzerland, are at different stages of planning and implementing deep geological repositories. These repositories are designed to provide long-term isolation and containment of radioactive waste in stable geological formations.

Leading Market Players: -

Augean

Perma-fix environmental services, Inc.

Svensk karnbranslehantering ab

Stericycle, Inc.

Us Ecology, Inc.

Veolia environment sa.

Bechtel corporation

Waste control specialists LLC (wcs)

Energy solutions

JGC HOLDINGS CORPORATION

The report provides a detailed analysis of these key players in the global nuclear waste management market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.

Trending Reports in Waste Management Industry (Book Now with 10% Discount):

Nuclear Waste Recycling Market: Global Analysis and Industry Forecast, 2020–2027

Hazardous Waste Management Market: Global Insight and Growth Forecast, 2023-2032

Environmental Remediation Market: Global Opportunity Analysis, 2021-2031

Waste to Energy Market: Global Analysis and Industry Forecast, 2022 - 2030

Nuclear Energy Market: Global Opportunity Analysis and Forecast, 2023–2032

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.Int'l: +1-503-894-6022Toll Free: +1-800-792-5285Fax: [email protected]: https://www.alliedmarketresearch.com/reports-store/energy-and-powerFollow Us on | Facebook | LinkedIn | YouTube

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/nuclear-waste-management-market-to-reach-5-7-billion-globally-by-2032-at-1-9-cagr-allied-market-research-301892802.html

SOURCE Allied Market Research