Spent Nuclear Fuel Dry Storage Cask Market Global Growth, Share, Revenue and Applications Market Res

The global Spent Nuclear Fuel Dry Storage Cask market was valued at US$ 2,200.0 Million in 2019 and is projected to reach US$ 2,612.2 Million by 2027 expanding at a CAGR of 3.0 % during the forecast period, 2020-2027. Fluorite, also known as Spent Nuclear Fuel Dry Storage Cask, is a naturally occurring mineral composed of calcium fluoride CaF2. It belongs to halide minerals group. Fluorite is easy to identity owing to its properties such as hardness, cleavage in its structure, and specific gravity of fluorite.

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Market Introduction

Nuclear fuel is used in reactors for a number of years before it loses its ability to efficiently generate energy. Fission by-products accumulates and interfere with a reactor’s efficiency, meaning that the fuel can no longer produce energy effectively. At this point, the used fuel is said to be spent nuclear fuel (

Market Dynamics

The market is driven by factors such as rising uses of nuclear technology, increasing need to reduce greenhouse gas emissions drives nations to develop nuclear power plants, and soaring fossil fuel prices and scarcity of energy sources. However, limitations of dry storage casks and difficulty of financing nuclear power projects could impede the development of the nuclear power industry are key restraints.

Development of small-scale nuclear reactors worldwide and increasing investment in nuclear power plants, are boosting the growth of the market. Recent market trends include permanent storage facilities and dry storage casks are preferred over wet storage casks.

Segmental Outlook

On the basis of types, the spent nuclear fuel dry storage cask market is bifurcated into concrete and metal. The metal segment is estimated to hold a large share of the market during the forecast period due to its ease of operation and maintenance with flexibility in the transportation process

Based on applications, the spent nuclear fuel dry storage cask market is divided into large nuclear power plants and small nuclear power plants. The large nuclear power plants segment is projected to constitute an 86.5% share of the market in 2027, as a majority of power plants are considered large and the dry storage casks are a majorly supplied to the large nuclear power plants.

Regional Outlook

Based on countries, the ME Spent Nuclear Fuel Dry Storage Cask Market is fragmented into Saudi Arabia, Egypt, the UAE, and Rest of Global. Saudi Arabia is expected to hold major share of the market during the forecast period. The Global is a repository of the largest reserves of oil in the world. A large number of countries in the region produce large quantities of oil for export. The Saudi Arabian and Iraqi are the two major pipeline systems in the Global. In the countries Saudi Arabia and UAE are expected grow during the forecast period owing to increasing number of oil pipelines and export activities in the region.

Competitive Landscape

• Key players in the market include EnergySolutions, Holtec International, ŠKODA JS a.s., GNS Gesellschaft für, Nuklear-Service mbH, and Hitachi Zosen Corporation. These companies are considered as key manufacturers of spent nuclear fuel dry storage cask based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.
• The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the spent nuclear fuel dry storage cask extraction is added in the company’s capacity.

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