Dallas, TX -- (SBWIRE) -- 10/25/2018 -- Although the amount of waste generated by nuclear power is very small relative to other thermal electricity generation technologies, proper and safe management of nuclear waste is of utmost importance for the nuclear power plant operators. To achieve this, practically all radioactive waste is contained and managed, with some needing deep and permanent burial. An international consensus is that geological disposal is the best option. Various ongoing and upcoming nuclear plant clean-up activities across the globe along with numerous decommissioning activities are some of the major drivers for this market.

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Ongoing and upcoming nuclear plant decommissioning activities - Driving the Market

Nuclear power plant decommissioning activities generate lot of radioactive waste and requires many years of time for total clean up. Decommissioning is projected to become an increasingly important part of the nuclear sector activity in the coming decades, as many reactors are expected to reach their technical-lifetime very soon, which causes a growing demand for nuclear waste management services. Some scrap material from decommissioning may be recycled, but for uses outside the industry very low clearance levels are applied, so most is buried and some is recycled within the industry. Till date, over 110 commercial power reactors, over 250 research reactors and 48 prototype reactors, a number of fuel cycle facilities have also been retired from operation. This creates a huge demand foe waste management services and hence the ongoing and upcoming nuclear plant decommissioning activities is considered to be among the prime drivers of the market.

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Asia-Pacific – Among the fastest growing market in Spent Fuel & Nuclear Waste Management Market

Asia-Pacific has the most significant number of power generation projects in the pipeline. China's investment in power generation is USD 395 billion, with the main investment being in nuclear power and coal. In addition, China accounts for more than half of the world's new nuclear power investment as of 2017. On the other hand, India's nuclear power projects have a pipeline of investment worth USD 87 billion. Such investments in the nuclear power sector by Asian countries is likely to drive the radioactive waste market. Further, China is fast-tracking the development of third-generation nuclear power plants both in terms of domestic design as well as nuclear projects under construction. These investments in the nuclear power sector and slowdown of nuclear power plant activities in Europe and North America makes Asia-Pacific a fastest growing market for nuclear waste management during the forecast period.

United States – To provide ample opportunity for market players

The United States is the world's largest producer of nuclear power, which accounts for more than 30% of worldwide nuclear generation of electricity. The US has over 90,000 metric tons of nuclear waste that requires disposal. The US commercial power industry alone has generated more waste than any other country in the world. Further, the US government's nuclear weapon program has generated spent nuclear fuel as well as high-level radioactive waste that accounts for about 14,000 metric tons. The amount of nuclear waste is expected to increase to about 140,000 metric tons over the next several decades. However, there is still no disposal site in the United States. After spending decades and billions of dollars to research potential sites for a permanent disposal site, including at the Yucca Mountain site in Nevada that has a license application pending to authorize construction of a nuclear waste repository, the future prospects for permanent disposal remain unclear.

Key Developments in the Spent Fuel & Nuclear Waste Management Market

July 2017: SNC Lavalin Group Inc. acquired WS Atkins plc ("Atkins"). WS Arkins plc is design, engineering and project management consultancy in infrastructure, transportation in the energy sector.

Spent Fuel & Nuclear Waste Management Market Major Players

Fluor Corporation
Bechtel Group Inc.
Chase Environmental Group
Perma-Fix Environmental Services
Magnox Technologies Pvt. Ltd
Posiva Oy
Veolia Environment SA
Studsvik AB
SNC Lavalin Group Inc
Enercon Services, Inc.

Reasons to Purchase Spent Fuel & Nuclear Waste Management Market Report

Current and future spent fuel and nuclear waste management market outlook in the developed and emerging markets
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The segment that is expected to dominate the market
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Companies Mentioned:

-Fluor Corporation

-Bechtel Group Inc.

-Chase Environmental Group

-Perma-Fix Environmental Services

-Magnox Technologies Pvt. Ltd

-Posiva Oy

-Veolia Environment SA

-Studsvik AB

-SNC Lavalin Gr

-Enercon Services, Inc.

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