North America Nuclear Waste Management System Market Forecast to 2028 - COVID-19 Impact and Regional 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 )
Market Introduction
The nuclear waste management system market in North America is sub segmented into the US, Canada, and Mexico. Several domestic and international companies have a strong foothold in this region. The US holds a major share of the nuclear waste management system market in North America, followed by Canada and Mexico. North America has a strong inclination toward nuclear power, and the US and Canada are currently focusing on extending the life of nuclear power plants while exploring potential option for developing small modular reactors in the region. The US has the world’s largest fleet of nuclear power reactors, which cater to ~20% of the country’s power requirement. However, the declining prices of electricity in wholesale market have been putting economic pressure on nuclear plants, thus leading to the decommissioning of several plants in the US, as well as in North America. For instance, in 2020, Entergy closed its nuclear plant in Plymouth, Massachusetts, US. In 2019, Exelon decommissioned 837-MW Three Mile Island 1 BWR in Pennsylvania. Meanwhile, over US$ 25 billion have been invested in Ontario, Canada, for refurbishing nuclear reactors at the Darlington and Bruce nuclear generating stations; the project would be effective during 2020–2033. Furthermore, North America also has the presence of various research facilities dedicated to nuclear R&D activities. The robust healthcare sector also fuels the growth of the nuclear medicine and radiology in North America. Thus, all these factors are generating ample opportunities for the growth of nuclear waste management system market players in the region. Also, rising deployment of nuclear power plants is the major factor driving the North America nuclear waste management system market.
North America is one of the leading regions in terms of the development and adoption of new technologies; this is mainly attributed to favorable government policies that boost innovation and strengthen the infrastructure capabilities. Hence, any impact on the growth of industrial sector hampers the economic growth of the region. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak pandemic. The nuclear waste management industry’s reliance on manufacturing industry, such as companies using nuclear reactors and electricity produced from them, has been highlighted by the recent pause in manufacturing units due to the pandemic. Several industries, such as healthcare and research facilities, saw a sharp drop in waste generation during the early stages of the pandemic, when factories and offices were partially or entirely closed. As a result, the expansion of the North American nuclear waste management system market was hampered. In the US, there are 60 nuclear plants with around 98 nuclear reactors, officials have suggested isolating or quarantining critical nuclear power plant (NPP) specialists and allowing them to live on-site to reduce their closeness to others if this is required. The overall demand for nuclear waste management system is likely to increase once the industries attain normal operational conditions as these systems are much needed because of the rise in nuclear waste.
Get more information on this report :
Market Overview and Dynamics
The nuclear waste management system market in North America is expected to grow from US$ 4,473.37 million in 2021 to US$ 5,447.63 million by 2028; it is estimated to grow at a CAGR of 2.9% from 2021 to 2028. The development of nuclear power plant started to gain traction by 1970. After World War II, nuclear energy is widely adopted across the world for electricity generation owing to its advantages such as cost-efficiency, low carbon emission, and reliability. Typically, the lifecycle of nuclear power plant is 20–40 years. Many nuclear power plants are now reaching to the end of their lifecycle. In addition, security concerns owing to political and social resistance for the shutdown of these plants are projected to fuel the decommissioning of nuclear power plants. It is estimated that by the end of 2040, 75 nuclear power plants and 33 research reactors in Americas, will be decommissioned. Thus, 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.
Key Market Segments
The North America nuclear waste management system market is segmented on the bases of waste type, reactor type, disposal options, and country. Based on waste type, the market is segmented into low-level waste, high-level waste, intermediate-level waste, and others. Low-level waste segment held largest market share in 2020. Based on reactor type, the North America nuclear waste management system market is segmented into pressurized water reactor, boiling water reactor, and gas cooled reactor. Boiling water reactor segment held a substantial market share in 2020. Based on disposal option, the market is bifurcated into near surface disposal and deep geological disposal. Near surface disposal segment held a substantial market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the nuclear waste management system market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Ansaldo Energia S.p.A.; Bechtel Corporation; BHI Energy; Energysolutions; Perma-Fix; US Ecology, Inc.; Veolia; and Waste Control Specialists LLC.
Reasons to buy report
- To understand the North America nuclear waste management system market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America nuclear waste management system market.
- Efficiently plan M&A and partnership deals in North America nuclear waste management system market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America nuclear waste management system market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Nuclear Waste Management System Market Segmentation
North America Nuclear Waste Management System Market - By Waste Type
- Low-Level Waste
- High Level Waste
- Intermediate Level Waste
- Others
North America Nuclear Waste Management System Market - By Reactor Type
- Pressurized Water Reactor
- Boiling Water Reactor
- Gas Cooled Reactor
North America Nuclear Waste Management System Market – By Disposal Options
- Near Surface Disposal
- Deep Geological Disposal
North America Nuclear Waste Management System Market - By Country
- US
- Canada
- Mexico
North America Nuclear Waste Management System Market - Company Profiles
- Ansaldo Energia S.p.A.
- Bechtel Corporation
- BHI Energy
- Energysolutions
- Perma-Fix
- US Ecology, Inc.
- Veolia
- Waste Control Specialists LLC
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Nuclear Waste Management System Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Nuclear Waste Management System Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Deployment of Nuclear Power Plants
5.1.2 Production of Nuclear Weapons
5.2 Market Restraints
5.2.1 Nuclear Waste Management System Being Expensive
5.3 Market Opportunities
5.3.1 Introduction of New Nuclear Power Plants
5.4 Future Trends
5.4.1 Rising Usage of Medical Radioisotopes
5.5 Impact Analysis of Drivers and Restraints
6. Nuclear Waste Management System Market – North America Analysis
6.1 North America Nuclear Waste Management System Market Overview
6.2 North America Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Nuclear Waste Management System Market Analysis – by Waste Type
7.1 Overview
7.2 North America Nuclear Waste Management System Market, by Waste Type (2020 and 2028)
7.3 Low-Level Waste
7.3.1 Overview
7.3.2 Low-Level Waste: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
7.4 High-Level Waste
7.4.1 Overview
7.4.2 High -Level Waste: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Intermediate-Level Waste
7.5.1 Overview
7.5.2 Intermediate-Level Waste: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Nuclear Waste Management System Market – By Reactor Type
8.1 Overview
8.2 North America Nuclear Waste Management System Market, by Reactor Type (2020 and 2028)
8.3 Pressurized Water Reactor
8.3.1 Overview
8.3.2 Pressurized Water Reactor: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Boiling Water Reactor
8.4.1 Overview
8.4.2 Boiling Water Reactor: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Gas-Cooled Reactor
8.5.1 Overview
8.5.2 Gas-Cooled reactor: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Nuclear Waste Management System Market – By Disposal Option
9.1 Overview
9.2 North America Nuclear Waste Management System Market, by Disposal Option (2020 and 2028)
9.3 Near-Surface Disposal
9.3.1 Overview
9.3.2 Near-Surface Disposal: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Deep Geological Disposal
9.4.1 Overview
9.4.2 Deep Geological Disposal: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Nuclear Waste Management System Market –Country Analysis
10.1 Overview
10.1.1 North America: Nuclear Waste Management System Market- by Key Country
10.1.1.1 US: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Nuclear Waste Management System Market- by Waste Type
10.1.1.1.2 US: Nuclear Waste Management System Market- By Reactor Type
10.1.1.1.3 US: Nuclear Waste Management System Market- By Disposal Options
10.1.1.2 Canada: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Nuclear Waste Management System Market- by Waste Type
10.1.1.2.2 Canada: Nuclear Waste Management System Market- By Reactor Type
10.1.1.2.3 Canada: Nuclear Waste Management System Market- By Disposal Options
10.1.1.3 Mexico: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Nuclear Waste Management System Market- by Waste Type
10.1.1.3.2 Mexico: Nuclear Waste Management System Market- By Reactor Type
10.1.1.3.3 Mexico: Nuclear Waste Management System Market- By Disposal Options
11. North America Nuclear Waste Management System Market- COVID-19 Impact Analysis
11.1 North America
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Perma-Fix
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Ansaldo Energia S.p.A.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 US Ecology, Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Veolia
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 EnergySolutions
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 BHI Energy
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Waste Control Specialists LLC
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Bechtel Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Nuclear Waste Management System Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. US: Nuclear Waste Management System Market- by Waste Type –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Nuclear Waste Management System Market- By Reactor Type –Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Nuclear Waste Management System Market- By Disposal Options –Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Nuclear Waste Management System Market- by Waste Type –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Nuclear Waste Management System Market- By Reactor Type –Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Nuclear Waste Management System Market- By Disposal Options –Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Nuclear Waste Management System Market- by Waste Type –Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Nuclear Waste Management System Market- By Reactor Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Nuclear Waste Management System Market- By Disposal Options –Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Nuclear Waste Management System Market Segmentation
Figure 2. North America Nuclear Waste Management System Market Segmentation – By Country
Figure 3. North America Nuclear Waste Management System Market Overview
Figure 4. Low-Level Waste Segment Held the Largest Market Share in 2020
Figure 5. Boiling Water Reactor Held the Largest Market Share in 2020
Figure 6. Near Surface Disposal Held the Largest Market Share in 2020
Figure 7. US was the Largest Revenue Contributor in 2020
Figure 8. North America – PEST Analysis
Figure 9. Expert Opinion
Figure 10. North America Nuclear Waste Management System Market Impact Analysis of Drivers and Restraints
Figure 11. North America Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Nuclear Waste Management System Market Revenue Share, by Waste Type (2020 and 2028)
Figure 13. North America Low-Level Waste: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America High -Level Waste: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Intermediate-Level Waste: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Others: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Nuclear Waste Management System Market Revenue Share, by Reactor Type (2020 and 2028)
Figure 18. North America Pressurized Water Reactor: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Boiling Water Reactor: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Gas-Cooled reactor: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Nuclear Waste Management System Market Revenue Share, by Disposal Option (2020 and 2028)
Figure 22. North America Near-Surface Disposal: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America Deep Geological Disposal: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America: Nuclear Waste Management System Market – Revenue (2020) (US$ Million)
Figure 25. North America: Nuclear Waste Management System Market Revenue Share, by Key Country (2020 and 2028)
Figure 26. US: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Canada: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Mexico: Nuclear Waste Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic in North American Country Markets
- Ansaldo Energia S.p.A.
- Bechtel Corporation
- BHI Energy
- Energysolutions
- Perma-Fix
- US Ecology, Inc.
- Veolia
- Waste Control Specialists LLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America nuclear waste management system market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America nuclear waste management system market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the nuclear waste management system market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution