What is the global market size of Nuclear Waste Management Market?

Global Nuclear Waste Management Market size was valued at USD 4.71 billion in 2021 and is poised to grow from USD 4.8 billion in 2022 to USD 5.7 billion by 2030, growing at a CAGR of 1.9% in the forecast period (2023-2030).

Nuclear Waste Management Market Size, Share, Growth Analysis, By Type(High-Level Waste, Intermediate-Level Waste, Low-Level Waste), By Method(Deep Geological Repositories, Surface Storage, Near-Surface Disposal, Transmutation), By Application(Nuclear Power Plants, Research Institutions, Industrial Applications), By Region - Industry Forecast 2024-2031

Q: What is the key driver of Global Nuclear Waste Management Market?

The growing global dependence on nuclear power as a low-carbon energy source only heightens the need for effective waste management. Environmental consciousness moves governments and industry to confront the problem of nuclear waste safely. Additionally, progress in reprocessing and immobilization technologies provides alternative means for the treatment of nuclear waste which are even better suited to environmental protection.

Report ID: SQMIG10F2018 | Region: Global | Published Date: April, 2024
Pages: 178 | Tables: 91 | Figures: 76

Nuclear Waste Management Market News

In April 2024, Hanford Tank Waste Operations and Closure, or H2C, was granted $45 billion by the U.S. Department of Energy to perform the work at the Hanford Site. A 10-year contract has been re-awarded to the Virginia company tasked with cleaning up millions of gallons of radioactive and chemical waste.
In January 2024, newcleo, the clean and safe nuclear technology company developing innovative Generation IV reactors using nuclear waste as fuel, closed its previously announced acquisitions of Pompes Rütschi SAS and Rütschi Fluid AG – the two firms are jointly referred to as the Rütschi Group.
In December 2023, Swedish-headquartered global engineering, design and business consultancy, AFRY, announced plans to acquire two Hungarian nuclear safety consultancies. The firms, SOM System and TTSA Mérnökiroda, are known jointly as SOM. SOM’s services cover the full lifespan of nuclear power plants, from design to waste management to decomissioning.

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Nuclear Waste Management Market size was valued at USD 4.8 billion in 2022 and is poised to grow from USD 4.89 billion in 2023 to USD 5.69 billion by 2031, growing at a CAGR of 1.9% in the forecast period (2024-2031).

Nuclear Waste Management jungle market Competition is active and diverse, the competitive landscape made up of both existing giants as well smaller firms offering nuclear waste solutions. Another aspect of waste management is comprehensive strategies, which usually involve cooperation between companies and government agencies or nuclear power plant operators. 'Centralised Interim Storage Facility GmbH (CIS GmbH) (Germany)', 'ONDRAF/NIRAS (Belgium)', 'Nuclear Waste Management Organization of Japan (NUMO)', 'Svensk Kärnbränslehantering AB (SKB) (Sweden)', 'Posiva Oy (Finland)', 'National Radioactive Waste Management Agency (NRWMA) (United Kingdom)', 'United States Department of Energy (DOE) (USA)', 'Areva (France)', 'NAC International Ltd. (Canada)', 'BWXT Nuclear Operations Group (USA)', 'Perma-Fix Environmental Services, Inc. (USA)', 'Studsvik Nuclear AB (Sweden)', 'Bechtel Corporation (USA)', 'Fluor Corporation (USA)', 'Jacobs Engineering Group Inc. (USA)', 'Nuclear Waste Services Ltd. (United Kingdom)', 'Transnuclear, Inc. (USA)', 'EnergySolutions, Inc. (USA)', 'Waste Control Specialists, Inc. (USA)', 'BWXT Canada Ltd. (Canada)'

The growing dependence on nuclear power as a low-carbon energy source only heightens the need for effective waste management. Environmental consciousness moves governments and industry to confront the problem of nuclear waste safely. Additionally, progress in reprocessing and immobilization technologies provides alternative means for the treatment of nuclear waste which are even better suited to environmental protection.

Rising Emphasis on Research and Development to Advance Waste Treatment Technologies: The rising popularity of R & D to promote waste treatment technology, including research into such things as improved re-processing agents and alternative disposal resources. Secondly, the trend of international cooperation and sharing activities is rapidly spreading. Countries share difficulties in nuclear waste management, therefore collaboration to address common challenges is necessary.

The United States and Canada have a high concentration of nuclear power generation plants, which means these countries release large quantities of nuclear waste. However, countries of North America have polished waste management programs and stipulations regarding research into deep geological repositories as well.

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