Wet Storage Market for Spent Nuclear Fuel: Overview

  • Spent nuclear fuel is the used nuclear fuel which is irradiated in a nuclear reactor. Isotopic constituents of the spent fuel get considerably changed after the nuclear reaction and the fuel can be used in other thermal reactors accordingly. Spent nuclear fuel management is one of the most critical issues for nuclear power plants across the world. Spent nuclear fuel is stored for a long duration before the final disposal.
  • Wet storage of spent nuclear waste has been practiced for a long time, owing to feasible properties of water for shielding and heat removal. Wet storage pools are designed with the help of proven technology and proper engineering. These pools can retain water; they are leakage proof; and they emit low radiation to the site personnel.
  • Wet storage pools can withstand extreme weather conditions, temperatures, and seismic events. These pools are purified by using heat exchangers and ion exchange units to prevent accumulation of particles.
  • Rising demand for power and technological advancements in nuclear energy are likely to fuel the global wet storage market for spent nuclear fuel during the forecast period

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Key Drivers of Global Wet Storage Market for Spent Nuclear Fuel

  • Increasing demand for continuous and low-cost electricity across the globe is enabling the development of nuclear power plants. This development drives the global wet storage market for spent nuclear fuel. Rise in use of nuclear power in commercial, residential, and industrial sectors is another factor anticipated to propel the global market in the near future.
  • Increase in the development of nuclear power plants and generation of solid and liquid wastes from the existing nuclear power plants are likely to boost the global wet storage market for spent nuclear fuel during the forecast period. Also, in order to comply with stringent environmental norms imposed by governing bodies, proper storage facilities need to be established. This is also expected to fuel the global market from 2019 to 2027.
  • High investments in nuclear power infrastructure and high costs of materials required in the manufacture of storage pools are major restraints of the global wet storage market for spent nuclear fuel

Europe to Hold a Major Share of Global Wet Storage Market for Spent Nuclear Fuel

  • Based on region, the global wet storage market for spent nuclear fuel can be segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Europe is anticipated to dominate the global wet storage market for spent nuclear fuel during the forecast period. Countries in the region such as Belgium, France, Germany, and Czech Republic have formulated polices regarding spent nuclear fuel reprocessing. For example, France has implemented a reprocessing policy for uranium dioxide (UO2) fuels.
  • A policy in Germany prohibits the transportation of spent nuclear fuel and hence, onsite storage of fuel is carried out
  • North America is expected to hold a major share of the global wet storage market for spent nuclear fuel from 2019 to 2027. The region stores the spent nuclear fuel in reactor pools on a large scale. Canada has also set a policy governing disposal of the spent nuclear fuel and radioactive wastes.
  • The market in Asia Pacific is likely to expand significantly in the next few years. Countries in the region have adopted a closed fuel cycle approach, which involves reprocessing the spent fuel to enhance resources. Also, nuclear power generation in the region is increasing.
  • The market in Middle East & Africa and Latin America is anticipated to expand at a sluggish pace during the forecast period

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Key Players Operating in Global Market:

  • Augean PLC
  • Holtec Asia Pvt. Ltd.
  • Bechtel Corporation.
  • NAC International Inc.
  • Svensk Kärnbränslehantering AB
  • Fluor Corporation
  • JAVYS
  • EMPRESA NACIONAL DE RESIDUOS RADIACTIVOS, S.A.
  • Posiva
  • AREVA S.A.
  • MITSUBISHI HEAVY INDUSTRIES, LTD.

Global Wet Storage Market for Spent Nuclear Fuel: Research Scope

Global Wet Storage Market for Spent Nuclear Fuel, by Reactor Type

  • At-reactor (AT)
  • Away-from-reactor (AFR)
    • Single Pool
    • Serial Pool
    • Parallel Pool

Global Wet Storage Market for Spent Nuclear Fuel, by Storage

  • On-site
  • Off-site

Global Wet Storage Market for Spent Nuclear Fuel, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Venezuela
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Nigeria
    • Rest of Middle East & Africa

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
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  • 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.

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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.

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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.

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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?

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Wet Storage Spent Nuclear Fuel Market

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