The global market for radioactive waste management technologies and services is expected to reach $21.3 billion by 2020
(PRWEB) August 10, 2015
Wellesley, Mass., August 10, 2015 – The percentage of renewable and nuclear energy is expected to increase primarily in Asian, North American and East European countries, while the percentage of energy generated by fossil fuels will fall due to environmental concerns. BCC Research reveals in its new report that global demand for energy is expected to grow by more than 30% over the next 20 to 25 years.
The global market for radioactive waste management is expected to reach $18.8 billion and $21.3 billion in 2015 and 2020, respectively, reflecting a five-year compound annual growth rate (CAGR) of2.5%.
Transportation and disposal technologies, which dominate the market, achieved about 17.1% of total sales in 2014, and should increase to 17.3% by 2020. Physical treatment technologies accounted for the second largest share of the market in 2014 (16%), and containment and storage technologies accounted for the third-largest (12.8%).
Radioactive waste management is the collection, transportation, treatment and disposal of wastes that when improperly handled can cause substantial harm to human health and to the environment. The global radioactive waste market is segmented on the basis of technologies and services used including physical, chemical and thermal technologies, remediation, containment, size reduction, transportation and disposal services, decontamination and decommissioning services, and stabilization and encapsulation technologies.
“In the longer term the outlook of the global radioactive waste management market is positive, with almost 70 new nuclear power plants under construction and a further 179 in the planning stage,” says BCC research analyst Nikos Thomopouls. “Growth is dominated by Asia, with 46% of growth in China, and another 30% in India, South Korea and Russia. The long-term challenge for Europe and the U.S. is how the electricity generated today by nuclear power plants is to be replaced when old plants reach their maximum life and decommissioning programs have to be implemented. “
Radioactive Waste Management: Global Markets (ENV029A) examines the global markets for radioactive waste management, including regional segmentation in the U.S., Europe, Asia and Pacific. The report analyzes the technologies as well as the future trends of the market, and sector includes forecasted trends and revenue through 2020.
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