Report : Europe 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 )
Boiling Water Reactor Segment to Dominate Europe Nuclear Waste Management System Market during 2020–2028
According to a new market research study on “Europe Nuclear Waste Management System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and End User” is expected to reach US$ 6,280.26 million by 2028 from US$ 4,985.32 million in 2021. The market is estimated to grow at a CAGR of 3.4% from 2021 to 2028. The report provides trends prevailing in the Europe nuclear waste management system market along with the drivers and restraints pertaining to the market growth. Development of nuclear weapons is the major factor driving the growth of the Europe nuclear waste management system market. However, issues associated with huge cost of nuclear waste management system hinders the growth of Europe nuclear waste management system market.
The Europe 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 Europe 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. Based on country, the market is further segmented into France, Germany, Italy, UK, Russia, and rest of Europe.
The impact of the COVID-19 outbreak pandemic differed from country to country across Europe as selected countries witnessed an increase in the number of COVID-19 confirmed cases and subsequently imposed strict and long lockdown periods or social isolation. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. To protect citizens from infection, the European governments made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. During the pandemic, Europe was one of the regions that were highly dependent on the nuclear power plants to fulfill their electricity requirements. As many components of the infrastructure cannot function without a consistent supply of electricity, electricity generation and delivery, two of the most crucial elements of economic and social infrastructure, are required to remain reliable during the pandemic. In the EU, more than 100 nuclear power reactor units are operational, and their continuous operation in the pandemic is critical for maintaining grid stability and ensuring needed power supply in conjunction with other power generation sources. This high reliability on nuclear power plants for electricity needs has increased the requirement of disposal of nuclear waste produced from them.
Ansaldo Energia S.p.A.; Augean PLC; Bechtel Corporation; Energysolutions; Perma-Fix; Svensk Kärnbränslehantering AB; and Veolia are among the leading companies in the Europe nuclear waste management system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Ansaldo Nucleare won 10 million Euro Framework Contract awarded by the European Commission. Under this contract, Ansaldo Nucleare stands for around 40% of total value, aiming at an assessment of the nuclear fusion power plant physics and technology system architecture, overall configuration and system engineering processes.
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