Global Nuclear Waste Management Market - Overall Industry Analysis
Progressive Markets added a report, “Global Nuclear Waste Management Market - Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025,” which says that the global nuclear waste management market is expected to grow at a CAGR of 16.3% from 2017 to 2025.
Nuclear waste is extremely hazardous for human health and the environment. These wastes contain radioactive materials, which is the byproduct of nuclear power generation or nuclear fission applications. They can be classified into various types namely high level, intermediate level, and low level depending on the radioactive material content in them. High level nuclear waste is produced from a nuclear power plant and weapons and contains 95% radioactive material. Intermediate level waste comes from ion exchange resins and filter materials and contains about 4% radiation. Low level waste is produced from medical equipment and contains about 1% of radiation. To protect people and the environment from the harmful radiations of nuclear waste, disposing of the waste by deep and permanent burial is very important.
According to Nuclear Energy Institute, nuclear industry lobbying group in the U.S., a nuclear power plant produces 20 metric tons of used nuclear fuel every year. The entire nuclear industry has produced about 76,430 metric tons of used nuclear fuel in the past four decades.
Market Drivers and Restraints
The nuclear waste management market is experiencing a swift growth and several factors are playing a role in it. Factors such as an increase in the consumption of energy across the globe and the shift in preference for alternative sources of energy are driving the market growth. Factors such as the risk associated with transportation of waste and the high cost of nuclear waste treatment are likely to cause a slowdown in the overall market.
Nuclear Waste Management Market Segmentation
The global nuclear waste management market report encompasses the market segmentation by waste type, nuclear reactor, and geography. Based on the waste type, the market is classified as low level, intermediate level, and high level. Based on the nuclear reactor, the market is divided into boiling water reactors, gas cooled reactors, pressurized water reactors, pressurized heavy water reactors, and others. Based on geography, the market is segmented into North America, Asia-Pacific, Europe, and LAMEA. The market analysis for North America covers the regions such as Canada, the U.S., and Mexico. The nuclear waste management industry study in the Asia-Pacific region covers China, Japan, Australia, India, South Korea, and the other parts of Asia-Pacific. The market analysis for Europe covers Germany, UK, Spain, France, Italy, and the other parts of Europe. In the LAMEA region, the market has been studied in Brazil, Saudi Arabia, South Africa, and the rest of LAMEA.
Key Market Players
The report provides an in-depth analysis of the top players operating in the global nuclear waste management market. They include American Waste Management Services Inc., Areva Inc., Radiation Decontamination Solutions LLC, Cabrera Services Inc., Ecology Services Inc., Bartlett Nuclear Inc., Nuclear Research and Consulting Group, Pangea Resources Pty., Ltd., Mid-Counties Waste Management Services Ltd., and SA Radiation Pty. Ltd.
Key Benefits from the Report
The report provides a detailed analysis of the global nuclear waste management industry. It encompasses the nuclear waste management market size, nuclear waste management market share (2014-2025), nuclear waste management industry statistics, nuclear waste management market forecast, market dynamics, nuclear waste management market trends, market segmentation, key market players, and Porter’s analysis. The nuclear waste management market outlook or forecast is provided for each segment by studying the current and future market potential. The nuclear waste management industry analysis also encompasses the historic market size for each region from 2014 to 2016. The drivers and restraints of the market help understand the factors responsible for the rise and fall of the market. They help market players plan their business ventures for the future. The Porter’s Five Forces Analysis helps gain an insight on the level of competition prevailing in the industry. A business overview of each player is presented along with insights on their recent developments and business segments. These insights would help market players gain an understanding of the competitiveness of the industry and adopt strategies accordingly. The nuclear waste management market analysis report analyses the industry across various geographical regions, thereby helping to identify the lucrative investment pockets.