Nuclear Spent Fuel - Global Strategic Business Report

The global market for Nuclear Spent Fuel was estimated at US$12.4 Billion in 2024 and is projected to reach US$13.6 Billion by 2030, growing at a CAGR of 1.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Nuclear Spent Fuel market.

Global Nuclear Spent Fuel Market - Key Trends & Drivers Summarized

Why Is Spent Fuel Management Central to Nuclear Sustainability?

Nuclear spent fuel, the highly radioactive material remaining after fuel rods are used in a nuclear reactor, is a critical focus area for the global nuclear industry. Although only a small portion of the original uranium is consumed during reactor operations, the residual material remains hazardous for thousands of years. Managing this byproduct safely is essential not only for public and environmental protection but also for maintaining the long-term viability of nuclear energy as a clean power source.

Most nuclear power-generating countries adopt interim storage solutions at reactor sites using water-filled pools or dry cask storage systems. However, growing inventories and limited long-term disposal options are increasing pressure on governments and operators to develop permanent solutions. The need for safe, scalable, and publicly acceptable storage and disposal frameworks has made spent fuel management a strategic issue in national energy policies.

How Are Technologies Evolving in Spent Fuel Handling and Storage?

Technological innovation is improving the safety, efficiency, and monitoring of spent fuel storage. Dry cask systems made from reinforced steel and concrete are increasingly favored for their modularity, durability, and passive cooling design. These casks can store fuel for decades above ground while minimizing risk and environmental exposure. Advances in canister welding, shielding materials, and real-time radiation monitoring systems are also enhancing performance and regulatory compliance.

Geological repository development is progressing slowly but steadily, with countries like Finland and Sweden leading in the implementation of deep underground disposal solutions. These repositories are designed to isolate spent fuel in stable geological formations for long periods, preventing radioactive leakage. Simultaneously, research into fuel recycling and reprocessing technologies is gaining renewed interest, with the aim of recovering usable materials and reducing waste volumes.

What Policy and Regulatory Trends Are Shaping Market Direction?

National and international regulations govern every stage of spent fuel handling, from on-site storage to transportation and long-term disposal. These frameworks require continuous oversight, licensing, and public transparency. In many countries, delays in establishing permanent repositories have extended reliance on interim solutions. This is prompting investment in modular and transportable storage systems that offer operational flexibility and regulatory alignment.

Multinational collaborations and funding initiatives are being established to support knowledge sharing, research, and infrastructure development. Policy support for fuel recycling is also increasing, particularly in regions with limited uranium resources or high nuclear energy dependency. Regulatory bodies are pushing for advanced monitoring systems, improved containment integrity, and lifecycle planning to ensure that spent fuel management aligns with evolving safety standards and public expectations.

Growth in the nuclear spent fuel market is driven by several factors.

Rising global reliance on nuclear power is contributing to increasing volumes of spent fuel requiring secure handling and storage. Advancements in dry storage technologies and shielding systems are enabling longer-duration, low-maintenance containment. Development of deep geological repositories, although slow, is gaining momentum as countries commit to long-term waste isolation. Renewed interest in spent fuel recycling is opening new pathways for material recovery and volume reduction. Regulatory focus on containment integrity, transport safety, and public communication is driving upgrades across storage infrastructure. These combined factors are shaping a more structured and technology-driven approach to managing nuclear spent fuel worldwide.

Scope Of Study:

The report analyzes the Nuclear Spent Fuel market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments: Type (Wet Storage, Dry Storage)

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Wet Storage segment, which is expected to reach US$8.2 Billion by 2030 with a CAGR of a 1.2%. The Dry Storage segment is also set to grow at 2.3% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $3.2 Billion in 2024, and China, forecasted to grow at an impressive 1.4% CAGR to reach $2.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Nuclear Spent Fuel Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Nuclear Spent Fuel Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Nuclear Spent Fuel Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as AECOM, Ansaldo Energia Spa, Augean Plc, Babcock International Group Plc, Bechtel Corporation and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 42 companies featured in this Nuclear Spent Fuel market report include:

• AECOM
• Ansaldo Energia Spa
• Augean Plc
• Babcock International Group Plc
• Bechtel Corporation
• BHI Energy
• Ecology Services Inc.
• EnergySolutions Inc.
• Fluor Corporation
• GNS Gesellschaft für Nuklear-Service mbH
• Hitachi Zosen Corporation
• Holtec International
• Mitsubishi Heavy Industries Ltd.
• OCL Corp.
• Orano Group
• Posiva Oy
• SKODA JS AS
• Svensk Kärnbränslehantering AB (SKB)
• Veolia Environnement SA
• Waste Control Specialists LLC
• Westinghouse Electric Company LLC

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.