Spent Fuel and Nuclear Waste Management Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The spent fuel and nuclear waste management market is expected to record a CAGR of 1.5% during the forecast period, 2022–2027. During the COVID-19 pandemic, the market did not witness any major negative impact. The nuclear power plant has the ability to generate electricity with lower carbon emissions as compared to fossil fuels. 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. Factors such as increasing adoption of cleaner energy sources to meet carbon emission targets and nuclear plant life extensions due to supporting government policies are expected to drive the market. However, the high initial cost and a high payback period are likely to hinder the spent fuel and nuclear waste management market during the forecast period.
Key HighlightsThe spent fuel and nuclear waste management market is moderately consolidated due to few companies operating in the industry because of the complex technology. The key players in this market include Fluor Corporation, Bechtel Group Inc., Westinghouse Electric Company LLC, Perma-Fix Environmental Services Inc., and Veolia Environnement SA.
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