Global Nuclear Waste Management Market – Growing Demand for Energy to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#Energy–The latest market research report by Technavio
on the global
nuclear waste management market predicts a CAGR of around 3%
during the period 2017-2021.

The report segments the global nuclear waste management market by
reactor type (pressurized water reactor and boiling water reactor), and
by geography (the Americas, EMEA, and APAC). It provides a detailed
illustration of the major factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global nuclear waste management
market, according to Technavio energy
researchers:

• Growing energy demand in developing countries: a major market driver
• In 2016, the pressurized water reactor segment dominated the market by
  occupying over 75% share
• EMEA dominated the global nuclear waste management market with 43%
  share in 2016
• New AREVA, DMT, Holtec International, North Wind Group, Swedish
  Nuclear Fuel and Waste Management Company (SKB), and Veolia are the
  leading players in the market

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Growing energy demand in developing countries: a major market driver

Growing energy demand in developing countries is one of the major
factors driving the global nuclear
waste management market. In the last two decades, developing
countries have witnessed a rapid economic growth, owing to globalization
and industrialization, which has led to the increase in household income
levels and growth in consumption patterns. In addition, the worldwide
energy consumption is growing steadily, driven by the growth in the
economy in developing nations. To meet the ever-growing energy demand,
nuclear power is expected to become an indispensable source of power
generation.

According to Thanikachalam Chandrasekaran, a lead analyst at Technavio
for water
and waste management research, “Several governments in developing
nations have initiated energy access plans to provide universal
electricity access to all within the next decade and are planning to set
up nuclear power plants. Even though the installation of nuclear power
plants is highly capital intensive, the cost of operation is
significantly cheaper than several other power sources. These power
plants are expected to be utilized for meeting the base load requirement
in most countries.”

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EMEA: largest nuclear waste management market

Technavio researchers anticipate high growth for the global nuclear
waste management market in EMEA due to demand for clean sources of
energy which is reducing the dependence on fossil fuel-based power. The
region includes many countries where a large part of the electricity
supply comes from nuclear energy. For instance, three-fourths of
France's electricity demand is met by nuclear energy.

Other countries, such as Jordan, Saudi Arabia, and Egypt, are also
moving toward the implementation of nuclear energy. The growth of
nuclear power to replace emission-releasing power generation sources,
such as coal and other fossil fuels, will propel the growth of the
nuclear waste management market in EMEA.

Competitive vendor landscape

The global nuclear waste management market is diversified by the
presence of international and regional vendors. In developed and
developing economies, regional vendors are more prominent, thus
increasing the competition with international players for market share.
The major vendors in the global nuclear waste management market are New
AREVA, DMT, Holtec International, North Wind Group, Swedish Nuclear Fuel
and Waste Management Company (SKB), and Veolia.

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nuclear waste management market report free of cost

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