Spent Nuclear Fuel (SNF) Dry Storage Casks Market – Global Industry Analysis and Forecast 2024-2030

Global Spent Nuclear Fuel (SNF) Dry Storage Casks Market was valued at USD 2.14 Bn in 2023 and is estimated to reach USD 3.21 Bn by 2030, at a CAGR 6% from 2024-2030. The report has analyzed the drivers, restraints, and challenges facing the spent nuclear fuel (SNF) dry storage casks market.

A surge of close down may be witnessed in the coming year for most of the declining nuclear activators in the world. These activators which have distributed energy to millions of accommodations in the past have consistently faced obstacles with regard to public undertaking. With highest atomic power plants holders reluctant to give out extra quantities for modernization of their aged plants, moderate close downs are approaching.To know about the Research Methodology :- Request Free Sample Report
Spent Nuclear Fuel (SNF) Dry Storage Casks Market Dynamics
The important business closely connected with dismantling these aging nuclear energy plants is the effective and secured discarding of nuclear decay. Dismantling prices of nuclear plants are excessive, going up to almost a billion for higher plants. Systematic repository of nuclear waste will engage a mass section of these prices. Radioactive half existences of wastes fluctuate up to 16 Mn years although they endure hazardous for considerably extended time. Repository of corresponding nuclear spent fuel (NSF) will eventually spark the need for dry storage casks. Dry repository casks are normally the most workable procedure of depositing high amount nuclear waste which has been refrigerated to achievable levels.

Refrigerating of spent fuels needs over a year and occasionally almost 8 years cast down to achievable temperatures. Steel or concrete are the important substances utilized for manufacturing these casks, which are accomplished to resist the harshest of climate and temperature states without destruction. Not only do noble gases surround and protect the spent fuel bars in these repositories, solid coatings are also present to give added radiation protection to waste holding workforce. These NSF dry storage casks should be transferrable as well, a characteristic which is integrated into them throughout production. With a majority of the aging nuclear energy activators going for dismantling, therefore impending their wet pool storehouse restrict for NSF ,dry casks is expected to rise remarkably in the coming years.
Spent Nuclear Fuel (SNF) Dry Storage Casks Market Segmentation
Global Spent Nuclear Fuel (SNF) Dry Storage Casks Market is divided into by Type (Concrete and Steel), by Application (Large Nuclear Power Plant and Small Nuclear Power Plant), and by Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America). Spent Nuclear fuel regulation is one of the highest important and evaluative matters for nuclear energy plants in the globe. Spent nuclear power is deposited for a long time before the closing discarding. Dry and wet interval repositories are the frequently used procedures to reserve spent nuclear fuel. Rise in all inclusive need for energy, basically in emerging providences of Asia Pacific and North America, is operating the demand for building of nuclear energy plants across the globe has generated the need for spent nuclear power amenities.

About one third of power is detached or restored in most of the nuclear energy activators yearly. The new nuclear power is attached at every rotation of refueling. The spent fuel retrieved from the activators is then prepared and finally positioned into deep water puddles discovered at the activator site to lower its diffraction and warm up before cask storehouse. Dry interim storage of the spent nuclear power can be hold out through various procedures, frequently followed procedures for dry interval storage of SNF comprises metal Cask, Cellar, Concrete component, and different dry repository procedures like drain fields and digs. Most automation utilized for dry interval retention of SNF are compared from one another with regard to their scientific attributes like degree of self determination of the single repository components ,kinds of protection, heat converting procedures, and kinds of topographical surface.
Spent Nuclear Fuel (SNF) Dry Storage Casks Market Regional Analysis
Spent Nuclear Fuel (SNF) Dry Storage Casks Market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Europe is estimated to be the dominant region in the market. Germany and Russia are expected to be increasing need operators for such dry repository casks. Powerful Research and Development is expected to be needed by the producers of these casks to make sure leak repository of corresponding wastes in nuclear repositories. As the demand for modern and secure depositories rise to discard of the nuclear wastes, standard enhancements in the casks will become requisite. Important developing markets are expected to be witnessed in the North America and Asia Pacific zones. Some of the market competitors involved in the business of producing SNF dry storage casks are Areva ,Holtec international etc.

Technological advancements infrastructure framework growth and quick economic development in nations in Asia pacific are estimated to give vast chances to the all inclusive competitors driving in the dry interval storage market for SNF. The market for the SNF dry storage is expected to be operated by various nations. Japan with its resolution to dismantle surviving nuclear activators and proceed towards a sustainable aligned creation blend can be a prospective market. While different nations have not decided yet to lead on Japans pathway, enduring consequences of the Fukishima calamity are impending. Dismantling of old activators can be the common public and administrative point of view in many nations, to be returned by modern and effective energy plants.
Key Development
Areva and Holtec International are constantly innovating new technologies to enhance the spent nuclear fuel (SNF) dry storage casks market in the forthcoming year.

The objective of the report is to present a comprehensive analysis of the market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Market dynamics, structure by analyzing the market segments and projects the market size. Clear representation of competitive analysis of key players By Type, price, financial position, Product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.
Spent Nuclear Fuel (SNF) Dry Storage Casks Market Scope: Inquire before buying



Spent Nuclear Fuel (SNF) Dry Storage Casks Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 2.14 Bn.


Forecast Period 2024 to 2030 CAGR:
6 %
Market Size in 2030:
USD 3.21 Bn.


 Segments Covered:
By Type
Concrete
Steel


By Application
Large Nuclear Power Plant
Small Nuclear Power plant



Spent Nuclear Fuel (SNF) Dry Storage Casks Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Spent Nuclear Fuel (SNF) Dry Storage Casks Market, Key Players:
1. Areva SA
2. British Nuclear Fuels Plc
3. GNS Gesellschaft fr Nuklear –Service mbh
4. Hitachi Zosen Corporation
5. Holtec International Inc.
6. Mitsubishi Heavy Industries
7. NAC International
8. OCL Corporation
9. Transnuclear Inc.
10.Skoda JS A.S.
11.Fluor Corporation
12.SRCL Ltd.
13.Augean Plc.
14.Bechtel Corporation
Frequently Asked Questions:
1. Which region has the largest share in Global Spent Nuclear Fuel (SNF) Dry Storage Casks Market?
Ans: Europe region held the highest share in 2023.

2. What is the growth rate of Global Spent Nuclear Fuel (SNF) Dry Storage Casks Market?
Ans: The Global market is growing at a CAGR of 6% during forecasting period 2024-2030.

3. What is scope of the Global Spent Nuclear Fuel (SNF) Dry Storage Casks Market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. What was the market size of Global Spent Nuclear Fuel (SNF) Dry Storage Casks Market in 2023?
Ans: The market size of Global market was values at USD 2.14 Bn in 2023.

5. What is the study period of this Market?
Ans: The Global market is studied from 2023 to 2030.