Nuclear Waste Management System Market to Grow at a CAGR of 3.4% to reach US$ 25,339.64 million from 2021 to 2028

Nuclear Waste Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Waste Type (Low-Level Waste, High Level Waste, Intermediate Level Waste, and Others), Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, and Gas Cooled Reactor), and Disposal Options (Near Surface Disposal and Deep Geological Disposal)

Publication Month : Jun 2021

  • Report Code : TIPMC00002521
  • Category : Energy and Power
  • Status : Published
  • No. of Pages : 158
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The nuclear waste management system market is expected to grow from US$ 20,048.26 million in 2021 to US$ 25,339.64 million by 2028; it is estimated to grow at a CAGR of 3.40% from 2021 to 2028.

The demand for energy is surging hugely owing to the increasing rate of population and urbanization across the world coupled with the growing rate of industrialization, especially in Asia Pacific. Moreover, growing carbon emission is one of the major concerns, with which the modern age is dwelling with. Governments across the world are actively initiating various efforts to incorporate multiple sources of clean energy into the energy mix of their respective country’s energy mix. Meanwhile, due to geographic and climatic challenges, solar and wind pOxy Fuel ower cannot generate stable and consistent amount of energy. However, nuclear power plants are a reliable and stable source for energy generation as they can be deployed at any geographic terrain and can generate significant amount of energy throughout the year as compared to solar and wind. Owing to these advantages, governments across the world are investing in building nuclear power plant to generate energy, without emitting carbon. For instance, government in Ontario, Canada invested over US$ 25 bilion in refurbishing nuclear reactors at the Darlington and Bruce nuclear generating stations from 2020–2033. In 2019, South Africa announced commitment to the development of nuclear energy as it has outlined a plan to develop 1 GW of new nuclear capacity by 2030 coupled with extending the lifecycle of current plant. China currently has 19 under construction nuclear reactors and 37 planned nuclear reactors that are capable of producing 19.9 GWe and 41.7 GWe of energy, respectively. Moreover, to meet the energy mix target of 2030, i.e. 20% from nuclear, the Japanese government restarted 7 nuclear reactors since 2015. The government also planned to restart 16 more nuclear reactors. Thus, positive outlook of governments across the world for the deployment of nuclear power plants for energy generation drives the growth of the nuclear waste management system market

Impact of COVID-19 Pandemic on Nuclear Waste Management System Market

According to reports from operators and regulators received through the International Atomic Energy Agency's (IAEA) COVID-19 Operational Experience Network (OPEX) and International Reporting System for Operating Experience, nuclear power reactors were not forced to shut down due to the impact of COVID-19 outbreak on the workforce or supply chains. Operators and regulators have maintained plant’s safety and security even though the pandemic has impacted them in numerous ways, such as planned outages and maintenance plans, according to the IAEA. This has led to an increase in nuclear waste even during the pandemic thus growing the need for nuclear waste management systems.

Lucrative Regions for Nuclear Waste Management System Providers

Lucrative Regions for Nuclear Waste Management System Providers
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Nuclear Waste Management System Market Insights

Development of Nuclear Weapons Fuels Growth of Nuclear Waste Management System Market

Increasing concerns related to national security are leading governments across the world to allocate more funds for military budgets. To strong arm the defense force countries such the US, China, Russia, France, the UK, India, Israel, South Korea, and Iran to develop nuclear weapons. There were around 13,000 nuclear weapons by the start of 2021 and 13,400 weapons in 2020 globally, as some of the weapons were retired. Despite decrease in the number of nuclear weapons, the estimated number of the weapons deployed currently with operational forces increased from 3,720 to 3,825 from previous year. According to the International Campaign to Abolish Nuclear Weapons (ICAN), the nuclear states spent US$ 72.6 billion for nuclear weapons in 2020, which was increased by US$ 1.4 billion as compared to 2019. While developing and dismantling nuclear weapons, the sufficient amount of low-level and intermediate-level nuclear waste is generated. Thus, the growing development and decommissioning of nuclear weapons bolsters the nuclear waste management system market growth.

Waste Type-Based Market Insights

Based on waste type, the nuclear waste management system market is segmented into low-level waste, high-level waste, intermediate-level waste, and others. The low-level waste segment led the market in 2020. Low-level waste consists of nuclear waste items that become radioactive due to exposure to nuclear reaction or the items that have got contaminated with radioactive materials. This waste is generated from place where the radioisotope is used or produced such as nuclear power station, hospitals, manufacturing facilities, food irradiation facilities, and research institutions. The low-level waste items may include plastic items, bottles, cloth, wipes, equipment, hand tools, ion-exchange resins and filter materials, show covers, etc. Due to low radioactivity levels, this waste can be handled and disposed easily. According to the Center for Nuclear Science and Technology Information of the American Nuclear Society, low-level waste constitute ~90% of all radioactive waste. Escalating number of healthcare institutions, research facilities, and nuclear power plants, especially in APAC, present ample growth opportunities for the nuclear waste management system market players.

Nuclear Waste Management System Market, by Reactor Type – 2020 and 2028


Nuclear Waste Management System Market, by Reactor Type – 2020 and 2028
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Nuclear Waste Management System Market: Strategic Insights

nuclear-waste-management-system-market
Market Size Value inUS$ 20,048.26 Million in 2021
Market Size Value byUS$ 25,339.64 Million by 2028
Growth rateCAGR of 3.40% from 2021-2028
Forecast Period2021-2028
Base Year2021
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The players operating in the nuclear waste management system market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In 2021, EnergySolutions announced its definitive agreement with Dominion Energy to acquire the Kewaunee Power Station (KPS) located in Carlton, Wisconsin, US.
  • In 2020, Ansaldo Nucleare won €10 million framework contract awarded by the European Commission. Under this contract, Ansaldo Nucleare stands for around 40% of total value, aiming at an assessment of the nuclear fusion power plant physics and technology system architecture, overall configuration, and system engineering processes.

The global nuclear waste management system market has been segmented as follows:


Nuclear Waste Management System Market – by Waste Type

  • Low-Level Waste
  • High Level Waste
  • Intermediate Level Waste
  • Others


Nuclear Waste Management System Market – by Reactor Type

  • Pressurized Water Reactor
  • Boiling Water Reactor
  • Gas Cooled Reactor


Nuclear Waste Management System Market – by Disposal Options

  • Near Surface Disposal
  • Deep Geological Disposal


Nuclear Waste Management System Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Russia
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of APAC
  • Middle East & Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South & Central America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • Augean Plc
  • Perma-Fix Environmental Services, Inc.
  • Svensk Kärnbränslehantering AB
  • Ansaldo Energia
  • US Ecology, Inc.
  • Veolia Environmental Services
  • Bechtel Corporation
  • Energysolutions
  • BHI Energy
  • Waste Control Specialists, LLC
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Waste Type , Reactor Type , and Disposal Options

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are reasons behind nuclear waste management system market growth?

Growing deployment of nuclear power plants coupled with development of nuclear weapons, thereby substantially driving the waste management system market.

What are market opportunities for nuclear waste management system market?

The decommissioning of nuclear power plants across the world is projected to generate lucrative growth opportunities for the nuclear waste management system market players in coming years.

Which service Waste type is expected to dominate the nuclear waste management system market in the forecast period?

Low-level waste consists of nuclear waste items that become radioactive due to exposure to nuclear reaction or the items that have got contaminated with radioactive materials. This waste is generated from place where the radioisotope is used or produced such as nuclear power station, hospitals, manufacturing facilities, food irradiation facilities, and research institutions.

The List of Companies - Nuclear Waste Management System Market

  1. Augean Plc
  2. Perma-Fix Environmental Services, Inc.
  3. Svensk Kärnbränslehantering AB
  4. Ansaldo Energia
  5. US Ecology, Inc.
  6. Veolia Environmental Services
  7. Bechtel Corporation
  8. Energysolutions
  9. BHI Energy
  10. Waste Control Specialists, LLC

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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