A surge of shutdowns may be observed in the future for most of the ageing nuclear reactors in the world. These reactors which have supplied power to millions of homes in the past have always faced hurdles in terms of public acceptance. With most nuclear plant owners unwilling to dish out extra millions for renovation of their old plants, gradual shutdowns are imminent. With the Fukishima disaster in Japan involving an old boiling water reactor built in the 70’s, the public sentiment towards the old nuclear plants is likely to deteriorate. The major issue closely linked with decommissioning these old nuclear power plants is the efficient and safe disposal of nuclear waste. Decommissioning costs of nuclear plants are extremely high, going up to nearly a billion dollars for larger plants. Efficient storage of nuclear waste will occupy a majority portion of these costs. Radioactive half life of wastes ranges up to 16 million years while they remain hazardous for much longer. Storage of such nuclear spent fuel (NSF) will ultimately spark the demand for dry storage casks.
 
Dry storage casks are generally the most viable method of storing high level nuclear waste which has been cooled down to manageable levels. Cooling of spent fuel requires over a year and sometimes nearly 8 years bringing down to manageable temperatures. Concrete or steel are the major materials used for making these casks, which are able to withstand the harshest of temperature and weather conditions without damage. Not only do inert gases surround and insulate the spent fuel rods in these containers, concrete layers are also present to provide additional radiation shielding to waste handling personnel. 
 
These NSF dry storage casks should be transportable as well, a feature which is incorporated into them during manufacturing. With a majority of the old nuclear power reactors going for decommissioning, thus approaching their wet pool storage limit for NSF, dry cask demand is likely to increase significantly in the future. 
 
The market for these NSF dry cask storages is likely to be driven by certain countries. Japan with its decision to decommission existing nuclear reactors and move towards a renewable oriented generation mix can be a potential market. While other countries have not decided yet to walk on Japan’s path, long lasting effects of the Fukishima disaster are imminent. Decommissioning of old reactors might be the general public and regulatory sentiment in many countries, to be replaced by newer and more efficient power plants. A major requirement of such dry storage casks may be observed from the North American region, with both the U.S. and Canada deciding to shut down and replace a number of their old reactors. 
 
In the European market, Germany and Russia are likely to be strong demand drivers for such dry storage casks. Strong R&D is likely to be required by the manufacturers of these casks to ensure leak free storage of such wastes in nuclear storage repositories. As the requirement for newer and safer repositories increase to dispose of the nuclear wastes, quality improvements in the casks will become necessary. Major emerging markets are likely to be observed in the North American and Asia Pacific regions. Some of the market players involved in the business of manufacturing SNF dry storage casks are Skoda JS A.S., NAC International, Holtec International and Areva among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Snf Dry Storage Casks