At -3.4% CAGR, Europe Spent Nuclear Fuel Waste Management Market is Projected to be Worth US$ 1,725.69 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe spent nuclear fuel waste management market was valued at US$ 2,273.31 million in 2022 and is expected to reach US$ 1,725.69 million by 2030, registering a CAGR of -3.4% from 2022 to 2030. Growing establishment of nuclear power plant, regulatory framework and safety, and rising use of automation in sorting and segregation of nuclear waste management are among the critical factors attributed to the Europe spent nuclear fuel waste management market expansion.

The management and long-term disposal of radioactive waste generated by nuclear power plants pose significant challenges. Developing safe and secure storage and disposal solutions is complex and can be met with public opposition and regulatory hurdles. The regulatory framework for spent nuclear fuel waste management is crucial to ensuring safety. Governments of various countries across the globe set strict guidelines for the handling and storage of radioactive waste. In accordance with the EU's Radioactive Waste and Spent Fuel Management Directive 2011/70/EURATOM, each member state must develop and execute national programs for the management of radioactive waste and spent fuel, as well as a national strategy. The Directive seeks to improve transparency, prevent unnecessary burdens on future generations, and ensure a high degree of safety. Without affecting the Basic Safety Standards Directive, it adds to the fundamental requirements mentioned in the Euratom Treaty for the security of radioactive waste and spent fuel. Thus, regulatory framework and safety measures related to nuclear fuel waste management drive the growth of the spent fuel nuclear waste management market during the forecast period.

On the contrary, uncertainty and unclarity in cost of spent fuel nuclear waste management hampers the growth of Europe spent nuclear fuel waste management market.

Based on reactor type, the Europe spent nuclear fuel waste management market is segmented into pressurized water reactor, boiling water reactor, gas cooled reactor, and others. The pressurized water reactor segment held 81.8% share of Europe spent nuclear fuel waste management market in 2022, amassing US$ 1,859.51 million. It is projected to garner US$ 1,490.65 million by 2030 to expand at -2.7% CAGR during 2022-2030.

In terms of disposal type, the Europe spent nuclear fuel waste management market is bifurcated into deep surface disposal and near surface disposal. The deep surface disposal segment held 85.5% share of Europe spent nuclear fuel waste management market in 2022, amassing US$ 1,944.25 million. It is projected to garner US$ 1,482.88 million by 2030 to decline at -3.3% CAGR during 2022-2030.

By country, the Europe spent nuclear fuel waste management market has been categorized into Germany, France, Spain, Russia, the UK, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 34.6% share of Europe spent nuclear fuel waste management market in 2022. It was assessed at US$ 786.16 million in 2022 and is likely to hit US$ 481.74 million by 2030, exhibiting a CAGR of -5.9% during 2022-2030.

Key players operating in the Europe spent nuclear fuel waste management market are Augean PLC, Perma-Fix, Svensk Kärnbränslehantering AB, Ansaldo Energia SPA, Veolia Environnement SA, and EnergySolutions, among others.

•    In July 2022, Perma-Fix signed four-year framework contract with Nuclear Waste Services (Nuclear Decommissioning Authority's division in UK). This contract partnership aimed at offering treatment and conditioning of radioactive waste in UK.
  
  

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