Nuclear Waste Management Market Size

Nuclear Waste Management Market size was over USD 4.86 billion in 2023 and is poised to cross USD 6.13 billion by 2036, growing at more than 1.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of nuclear waste management is evaluated at USD 4.93 billion. The growth of the market can be attributed to the growing rate of population and urbanization, increasing investments of governments in developed and developing nations to establish nuclear power plants, and rising industrialization in emerging economies. According to the United Nations organization, as of 2019, about 13,400 nuclear weapons remain in the world. The highest number of nuclear weapons belong to Russia and the United States, numbering to 6,500 and 6,185 weapons respectively.  Furthermore, there is a surge in concerns related to national security across the world, which is giving rise to the escalating development of nuclear weapons. This is turn is expected to raise the demand for nuclear waste management from these plants in the coming years. In addition, increase in carbon emissions globally is projected to offer abundant opportunities for the nuclear waste management market growth in the near future.