North America Nuclear Waste Management System Market to Grow at a CAGR of 2.9% to reach US$ 5,447.63 million from 2021 to 2028
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 US, Canada, and Mexico are major economies in North America. Rising deployment of nuclear power plants is the major factor driving the North America nuclear waste management system market. The demand for energy is surging hugely owing to the increasing rate of population and urbanization coupled with the growing rate of industrialization. Moreover, growing carbon emission is one of the major concerns, with which the modern age is dwelling with. Governments across the world are actively initiating various efforts to incorporate multiple sources of clean energy into the energy mix of their respective country’s energy mix. Meanwhile, due to geographic and climatic challenges, solar and wind power cannot generate stable and consistent amount of energy. However, nuclear power plants are a reliable and stable source for energy generation as they can be deployed at any geographic terrain and can generate significant amount of energy throughout the year as compared to solar and wind. Owing to these advantages, governments across the world are investing in building nuclear power plant to generate energy, without emitting carbon. For instance, government in Ontario, Canada invested over US$ 25 billion in refurbishing nuclear reactors at the Darlington and Bruce nuclear generating stations from 2020–2033.
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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America nuclear waste management system market. The North America nuclear waste management system market is expected to grow at a good CAGR during the forecast period.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Waste Type, Reactor Type, and Disposal Options
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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