Industry and News Nuclear Waste Management Market | Page 2

The nuclear waste management is a disposal facility which is used for the storage of hazardous
wastes away from the reach of public and public areas. Time frame for storage of waste depends
upon the waste type and radioactive isotopes. Companies operating under nuclear waste
management services are involved in nuclear reactor decommissioning process and own disposal
facilities and repositories to dispose nuclear waste during dismantling of nuclear reactors.
Nuclear power plant has an average life of three to four decades which is permitted to operate only
up to a prescribed and defined period. On non-renewal of license, the nuclear plant goes through a
decommissioning process which involves disposal of radioactive wastes and dismantling of nuclear
reactors. Thus, the decommissioning process for nuclear power plant is now a lucrative business
with heavy profit margins, hence majority of companies have begun catering nuclear
decommissioning services.
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The market driving factors for the growth of the global nuclear waste management market comprise
rapid population growth, growing dependency on fossil fuels, growing demand for electricity,
government regulations to eliminate harmful emissions, high awareness for environment,
decommissioning of old nuclear reactors and institutional awareness about radioactive disposal.
Therefore, the nuclear waste management services are expected to witness a higher CAGR for the
forecast period.
On the basis of waste type, the global nuclear waste management is segmented into low level
waste, intermediate level waste and high level waste. On the basis of nuclear reactor, the global
nuclear waste management is bifurcated into gas cooled reactors, boiling water reactors,
pressurized water reactors and pressurized heavy water reactors.
On the basis of geography, the global nuclear waste management market spans North America,
Europe, Asia-Pacific, and Middle-East & Africa. The key market players include Ecology Services, Inc.,
Swedish Nuclear Fuel and Waste Management Company, Veolia Environmental Services and Kurion
Inc among others. The Nuclear Waste Management Market is highly scattered with major players