According to a recent market study published by Growth Market Reports, titled, “Global Radioactive Waste Management Market” By Waste Radiation Type, By Radioactive Waste Management Lifecycle, By Waste Origin, By Waste Management Method, and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 8,541.5 Million in 2022 and is anticipated to expand at a growth rate of 5.3% by 2031.

Radioactive waste management is safe treatment, storage, and disposal of liquid, solid, and gas discharges from nuclear industry operations with the goal of protecting people and the environment. Any activity that uses radioactive materials, including medical and industrial uses, generates radioactive waste of various types. However, nuclear energy is the significant source of radioactive wastes, due to the large volumes generated and the long-lived nature of such waste. Radioactive wastes, regardless of their origin, are required to be managed in a safe and cost-effective manner.

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Radioactive waste management needs numerous approaches to manage low-level waste. Low-level waste refers to the radioactive waste that is generated in radiation facilities and nuclear fuel cycle operations ranging from uranium processing, fuel fabrication, nuclear power plants, research reactors, radiochemical facilities, and fuel reprocessing. They are segregated based on their physical nature. Different management techniques have been established based on their nature for their effective treatment. Countries with ambitious nuclear programs face challenges related to international collaboration, transportation, and potential security threats associated with radioactive materials. Geopolitical factors play a significant role in shaping approaches in the radioactive waste management market.

The Global Radioactive Waste Management Market has been segmented in terms of Waste Radiation Type, Radioactive Waste Management Lifecycle, Waste Origin, Waste Management Method, and Region. In terms of waste radiation type, the Global Radioactive Waste Management Market is split into very low-level or low-level waste, intermediate level waste, and high-level waste. Based on radioactive waste management lifecycle, the market is bifurcated into planning and preparation, treatment and packaging, storage, and disposal. Based on waste origin, the market is bifurcated into nuclear, mining & milling, defense, healthcare, research, and others. Based on waste management method, the global radioactive waste management market is fragmented into deep geological method and near surface disposal method. Considering regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The impact of COVID-19 on the global radioactive waste management market is moderate, with both short-term disruptions and long-term changes defining the future of radioactive waste management market. The market experienced supply chain interruptions that were caused by broad lockdowns and draconian travel restrictions during the pandemic. These interruptions caused delays in obtaining of crucial components and materials required for radioactive waste management systems. Simultaneously, the operational issues caused by the pandemic forced nuclear plants to develop new safety standards, resulting in reduced on-site workforce and changes in work routines. Remote work limits added levels of complexity to collaborative efforts and lengthened decision-making processes.

Key Takeaways from the Study:

  • Players in the Global Radioactive Waste Management Market include ADCO Services, Inc., Augean, Bechtel Corporation, BHI Energy, Cabrera Services Inc., Clean Harbors, Inc., Clean Management Environmental Group, Inc., DMT, Eckert & Ziegler Strahlen- und Medizintechnik AG, KEPCO ENGINEERING & CONSTRUCTION COMPANY.INC., KOBE STEEL, LTD., Orano, Perma-Fix, US Ecology, Inc., and Veolia Environnement SA.

  • Increasing energy demand, government regulation, and public awareness and concerns are key factors that drive the Radioactive Waste Management market.

  • Government initiatives and technological advancements are expected to create opportunities in the coming years.

  • Based on waste radiation type, the global radioactive waste management market is segmented into Very low-level or low-level waste, intermediate level waste, and high-level waste. The high-level waste segment holds a key share of the market.

  • Based on radioactive waste management lifecycle, the global radioactive waste management market is segmented into planning and preparation, treatment and packaging, storage, and disposal. Treatment and Packaging holds a significant share of the market.

  • Based on waste origin, the global radioactive waste management market is segmented into nuclear, mining & milling, defense, healthcare, research, and others. The nuclear segment dominates the radioactive waste management market, accounting for the majority of the volume.

  • Based on waste management method, the global radioactive waste management market is fragmented into deep geological method and near surface disposal method.

  • Based on regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  North America accounted for a significant share of the market in 2022. The growth of the market in North America is attributed to the presence of a large number of nuclear power plants and the strict regulations for the management of radioactive waste in the region.

Report Scope:

Report Metric

Details

Market Value in 2022

US$ 8,541.5 Million

Market Growth Rate (from 2022 to 2031)

5.30%

Historical Data

2016 – 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (US$ Million)

Market Segments

By Waste Radiation Type, By Radioactive Waste Management Lifecycle, By Waste Origin, By Waste Management Method, and By Region

Key Companies Profiled

ADCO Services, Inc., Augean, Bechtel Corporation, BHI Energy, Cabrera Services Inc., Clean Harbors, Inc., Clean Management Environmental Group, Inc., DMT, Eckert & Ziegler Strahlen- und Medizintechnik AG, KEPCO ENGINEERING & CONSTRUCTION COMPANY.INC., KOBE STEEL, LTD., Orano, Perma-Fix, US Ecology, Inc., and Veolia Environnement SA.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.


Target Audience:

  • Supply-side: Vendor, Manufacturer, Distributors, Supplier, Retailer.

  • Demand Side: Consulting Companies

  • Regulatory Side: Concerned government authorities, and other approved regulatory bodies.

  • Associations and Industry Bodies