Americas Set to Dominate Spent Nuclear Dry Storage Cask Market, Surpassing $1 Billion by 2020
PUNE, India, July 11, 2016 /PRNewswire/ --
The market for spent nuclear dry storage casks in the Americas is set to rise from $602.5 million in 2015 to over $1 billion by 2020, as the region continues to generate the highest demand for nuclear fuel storage globally, according to Spent Nuclear Fuel Dry Storage Casks, Update 2016 - Global Market Size, Market Volume, Market Share and Key Country Analysis to 2020 research report now available with RnRMarketResearch.com.
Complete report on spent nuclear fuel dry storage casks market spread across 164 pages supported with 58 data tables and 46 figures is available at http://www.rnrmarketresearch.com/spent-nuclear-fuel-dry-storage-casks-update-2016-global-market-size-market-volume-market-share-and-key-country-analysis-to-2020-market-report.html .
The latest spent nuclear dry storage casks market report states that the Americas lead the world for nuclear energy generation. The region observed the highest total nuclear power generated globally in 2015, with cumulative installed capacity forecast to rise from 117.1 Gigawatts (GW) in 2015 to 122.5 GW by 2020. While nuclear energy is one of the most efficient methods for producing electricity, a key concern for nuclear power-producing countries is the management of spent fuel. The absence of a permanent disposal solution for spent nuclear fuel, as well as limited space in the wet storage pools, continues to be a challenge.
The dry storage method has provided a respite to many utilities facing a shortage of storage space for spent fuel by providing long-term storage, acknowledged by most countries as the most practical solution. In the US, for example, the Ameren Missouri's Callaway Energy Center, a nuclear power plant, commissioned a new dry storage facility in 2015. As of now, wet pools store the nuclear waste, but experts suggest it will run out of space by 2020. This new facility will store spent nuclear fuel for the plant's entire lifetime, which is until 2044.
This research on spent nuclear dry storage casks market also states that other regions will also witness substantial growth of the dry cask market. Europe's dry storage cask market is expected to increase from $216.4 million in 2015 to $866.1 million by 2020, while Asia-Pacific's nuclear power-generating capacity has expanded rapidly since 2010, offering opportunities for the dry storage cask market over the forecast period. While the spent fuel dry storage casks market will be lucrative worldwide over the next five years, the Americas have very significant growth potential to 2020. Indeed, the market will continue to increase and is not expected to show any signs of saturation.
Order a copy of Spent Nuclear Fuel Dry Storage Casks, Update 2016 - Global Market Size, Market Volume, Market Share and Key Country Analysis to 2020 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=629905 .
This report provides analysis of the spent nuclear fuel dry storage cask market, with annualized market data from 2010 to 2015, and forecast to 2020. It focuses on the 12 major countries of the US, Canada, Germany, Russia, Spain, the UK, Belgium, Ukraine, China, India, Japan, and South Korea.
A related report titled Nuclear Power in the US, Market Outlook to 2025, Update 2015 - Capacity, Generation, Power Plants, Investment Trends, Regulations and Company Profiles analyzes the power market scenario in US (includes thermal conventional, nuclear, large hydro, pumped storage and renewables) and provides future outlook with forecasts up to 2025. The research details nuclear power market outlook in the country and provides forecasts up to 2025. The report highlights installed capacity and power generation trends from 2001 to 2025 in US nuclear power market. A detailed coverage of nuclear energy policy framework governing the market with specific policies pertaining to nuclear is provided in the report. The research also provides details of active nuclear reactors in the country, market size of major equipment and company snapshot of some of the major market participants. Read more at http://www.rnrmarketresearch.com/nuclear-power-in-the-us-market-outlook-to-2025-update-2015-capacity-generation-power-plants-investment-trends-regulations-and-company-profiles-market-report.html .
Explore more reports on energy storage market at http://www.rnrmarketresearch.com/reports/energy-power/energy/energy-storage .
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