“Nuclear waste“ is the material that nuclear fuel turns into, after being used in a reactor. The use of nuclear energy in diverse applications, coupled with the high efficacy of the product has contributed to the growing demand for the product across the world. Although nuclear energy has several uses, nuclear wastes are somewhat toxic to the environment. It is of utmost importance to manage nuclear wastes properly as they tend to have a serious impact on the environment. The excessive use of non-renewable resources has created the need for alternate energy sources. As nuclear energy possesses high efficiency, the use of nuclear energy is rising constantly. The increasing demand for nuclear energy will have a direct impact on the growth of the market in the coming years.
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The global nuclear waste management market will derive growth from the increasing awareness regarding the effects of nuclear wastes on the environment. According to a report by Fortune Business Insights™, titled “Nuclear Waste Management Market Size, Share & Industry Analysis, By Waste Type (High-level Waste, Intermediate-level Waste, Low-level Waste), By Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Pressurized Heavy Water Reactor, Gas-Cooled Reactor, Others), By End-User (Utility, Industrial) and Regional Forecast, 2019-2027,” the market will benefit from the increasing efforts taken to minimize nuclear wastes.
A few of the leading companies that are operating in the global nuclear waste management market are:
- Augean PLC
- US Ecology, Inc
- JGC Corporation
- Perma-Fix Environmental Services, Inc.
- Bechtel Corporation
- BHI Energy
- Cabrera Services Inc
- Chase Environmental Group, Inc.
- DMT, Ecology Services, Inc.
- Energy Solutions
- Holtec International
- Waste Control Specialists LLC
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1. By Waste Type
- High-level Waste
- Intermediate-level Waste
- Low-level Waste
2. By Reactor Type
- Pressurized Water Reactor
- Boiling Water Reactor
- Pressurized Heavy Water Reactor
- Gas-Cooled Reactor
3. By End-User
4. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
The report highlights key aspects of the nuclear waste market, with a primary focus on growth drivers, restraints, and major companies. It analyzes key areas of the market and labels out major elements. The market is segmented on the basis of several criteria, waste type, reactor type, end-user, and regional demographics. Market forecast values have been evaluated through a combination of primary as well as secondary research approaches. The data included in this report is obtained through trusted sources and opinions of world leaders and experienced market research professionals.
Increasing Efforts Taken to Reduce Nuclear Wastes Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers aimed at reducing the effects of nuclear wastes on the environment will aid the growth of the global nuclear waste management market in the forthcoming years. In February 2019, Viridor secured a contract for the nuclear waste management for the waste arriving from the Hinkley Point C nuclear power plant. In December 2018, Magnox Ltd awarded a nuclear waste disposal contract to Wood for managing the radioactive waste from the UK nuclear power station. The report highlights a few of the major activities that have been taken to reduce nuclear waste effects and gauges their impact on the global market.
Key Industry Developments:
- February 2018: Cyclife & Sogin signed an agreement for the treatment and disposal of 1800 tons of metal waste generated by 3 nuclear power plants in Italy. The contract was worth a whopping 28 million Euros and was aimed at encapsulation and sorting of wastes.
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Major Table of Content For Nuclear Waste Management Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Nuclear Waste Management Market Analysis, Insights and Forecast, 2027
- North America Nuclear Waste Management Market Analysis, Insights and Forecast, 2027
- Europe Nuclear Waste Management Market Analysis, Insights and Forecast, 2027
- Asia Pacific Nuclear Waste Management Market Analysis, Insights and Forecast, 2027
- Middle East and Africa Nuclear Waste Management Market Analysis, Insights and Forecast, 2027
- Latin America Nuclear Waste Management Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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