Nuclear Spent Fuel Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type of Reactor, By Storage Type, By Application, By Region 7 Competition, 2020-2030F
The Global Nuclear Spent Fuel Market was valued at USD 16.78 billion in 2024 and is projected to reach USD 23.04 billion by 2030, growing at a CAGR of 5.27%. This market encompasses the handling, storage, transportation, and disposal of spent nuclear fuel-radioactive material left after it has been used in a nuclear reactor to generate electricity. As nuclear energy becomes a critical component of global low-carbon strategies, the quantity of spent fuel requiring management continues to rise. Due to its high radioactivity and thermal output, spent fuel demands advanced systems for safe cooling, containment, and long-term disposal. The market includes wet and dry storage technologies, transportation containers, reprocessing services, and deep geological repositories, all designed to meet stringent safety and regulatory requirements across diverse applications such as energy production, research, and defense.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 16.78 Billion
Market Size 2030
USD 23.04 Billion
CAGR 2025-2030
5.27%
Fastest Growing Segment
Dry Storage
Largest Market
North America
Key Market Drivers
Increasing Global Demand for Nuclear Energy to Meet Carbon Neutrality Goals
The growth of the Nuclear Spent Fuel Market is being propelled by the expanding adoption of nuclear power as a clean energy solution aligned with global decarbonization goals. As countries work toward achieving net-zero emissions, nuclear energy is being increasingly embraced for its ability to produce electricity with minimal carbon emissions. This rise in nuclear deployment is directly contributing to the accumulation of spent fuel, necessitating enhanced infrastructure and technology for its management and disposal.
According to the International Energy Agency (IEA), global nuclear capacity is expected to double by 2050 under sustainable development scenarios. Nations such as China, India, and the UK are aggressively expanding their nuclear portfolios-with China planning to build 150 reactors by 2035. This surge is driving substantial investment in dry and wet storage systems, reprocessing technologies, and deep geological repositories. Given the long-term hazards posed by high-level radioactive waste, sophisticated containment and monitoring systems are essential, making effective spent fuel management a vital component of the nuclear energy ecosystem.
Key Market Challenges
Regulatory Complexity and Policy Inconsistencies Across Jurisdictions
A major challenge for the Nuclear Spent Fuel Market lies in the fragmented regulatory landscape across countries. Each nation maintains its own safety, environmental, and security protocols for managing spent fuel, resulting in inconsistent policies that hinder global standardization. The absence of a universal framework complicates cross-border operations and increases compliance burdens for companies engaged in storage, transportation, and disposal services.
Diverse national regulations, shaped by political climate, public perception, and nuclear legacy, create uncertainty and delays in project execution. For instance, Finland and Sweden are advancing deep geological repositories, while countries like the U.S. and Germany face political and legal hurdles in establishing permanent solutions. This regulatory disparity restricts investor confidence and impedes the scale-up of global spent fuel management infrastructure, slowing innovation and adding to operational complexity for service providers in the sector.
Key Market Trends
Increasing Investments in Lightweight Energy Storage for Electric Aviation
A notable trend impacting the Nuclear Spent Fuel Market is the rise in investments related to lightweight energy storage systems for electric aviation applications. The aerospace sector, encompassing both civilian and defense domains, demands compact, high-energy-density solutions to support the growing shift toward electrified aviation. Lithium-sulfur batteries are gaining attention for their superior specific energy and lightweight characteristics, making them well-suited for electric aircraft, UAVs, and surveillance platforms.
As national governments and private entities prioritize sustainable aviation, collaborations between aerospace firms and battery developers are increasing. These partnerships aim to optimize lithium-sulfur chemistries for flight performance, efficiency, and safety. Support from public R&D programs and environmental initiatives further accelerates these efforts, positioning lightweight battery innovation as a transformative force in aviation and adjacent high-tech sectors.
Key Market Players
Orano
Westinghouse Electric Company
Holtec International
AREVA
NAC International
Hitachi Zosen Corporation
GE Hitachi Nuclear Energy
Rosatom State Corporation
Cameco Corporation
Mitsubishi Heavy Industries
Report Scope:
In this report, the Global Nuclear Spent Fuel Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Nuclear Spent Fuel Market, By Type of Reactor:
Pressurized Water Reactor (PWR)
Boiling Water Reactor (BWR)
Gas-cooled Reactor (GCR)
Pressurized Heavy Water Reactor (PHWR)
Others
Nuclear Spent Fuel Market, By Storage Type:
Wet Storage
Dry Storage
Nuclear Spent Fuel Market, By Application:
Energy Production
Research and Development
Defense and Military
Others
Nuclear Spent Fuel Market, By Region:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
South America
Brazil
Argentina
Colombia
Asia-Pacific
China
India
Japan
South Korea
Australia
Middle East & Africa
Saudi Arabia
UAE
South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Nuclear Spent Fuel Market.
Available Customizations:
Global Nuclear Spent Fuel Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Nuclear Spent Fuel Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type of Reactor (Pressurized Water Reactor (PWR), Boiling Water Reactor (BWR), Gas-cooled Reactor (GCR), Pressurized Heavy Water Reactor (PHWR), Others)
5.2.2. By Storage Type (Wet Storage, Dry Storage)
5.2.3. By Application (Energy Production, Research and Development, Defense and Military, Others)
5.2.4. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)
5.3. By Company (2024)
5.4. Market Map
6. North America Nuclear Spent Fuel Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type of Reactor
6.2.2. By Storage Type
6.2.3. By Application
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States Nuclear Spent Fuel Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type of Reactor
6.3.1.2.2. By Storage Type
6.3.1.2.3. By Application
6.3.2. Canada Nuclear Spent Fuel Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type of Reactor
6.3.2.2.2. By Storage Type
6.3.2.2.3. By Application
6.3.3. Mexico Nuclear Spent Fuel Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type of Reactor
6.3.3.2.2. By Storage Type
6.3.3.2.3. By Application
7. Europe Nuclear Spent Fuel Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type of Reactor
7.2.2. By Storage Type
7.2.3. By Application
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Nuclear Spent Fuel Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type of Reactor
7.3.1.2.2. By Storage Type
7.3.1.2.3. By Application
7.3.2. France Nuclear Spent Fuel Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type of Reactor
7.3.2.2.2. By Storage Type
7.3.2.2.3. By Application
7.3.3. United Kingdom Nuclear Spent Fuel Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type of Reactor
7.3.3.2.2. By Storage Type
7.3.3.2.3. By Application
7.3.4. Italy Nuclear Spent Fuel Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Type of Reactor
7.3.4.2.2. By Storage Type
7.3.4.2.3. By Application
7.3.5. Spain Nuclear Spent Fuel Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Type of Reactor
7.3.5.2.2. By Storage Type
7.3.5.2.3. By Application
8. Asia Pacific Nuclear Spent Fuel Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type of Reactor
8.2.2. By Storage Type
8.2.3. By Application
8.2.4. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China Nuclear Spent Fuel Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type of Reactor
8.3.1.2.2. By Storage Type
8.3.1.2.3. By Application
8.3.2. India Nuclear Spent Fuel Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type of Reactor
8.3.2.2.2. By Storage Type
8.3.2.2.3. By Application
8.3.3. Japan Nuclear Spent Fuel Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type of Reactor
8.3.3.2.2. By Storage Type
8.3.3.2.3. By Application
8.3.4. South Korea Nuclear Spent Fuel Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type of Reactor
8.3.4.2.2. By Storage Type
8.3.4.2.3. By Application
8.3.5. Australia Nuclear Spent Fuel Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Type of Reactor
8.3.5.2.2. By Storage Type
8.3.5.2.3. By Application
9. Middle East & Africa Nuclear Spent Fuel Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type of Reactor
9.2.2. By Storage Type
9.2.3. By Application
9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Nuclear Spent Fuel Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type of Reactor
9.3.1.2.2. By Storage Type
9.3.1.2.3. By Application
9.3.2. UAE Nuclear Spent Fuel Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Type of Reactor
9.3.2.2.2. By Storage Type
9.3.2.2.3. By Application
9.3.3. South Africa Nuclear Spent Fuel Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Type of Reactor
9.3.3.2.2. By Storage Type
9.3.3.2.3. By Application
10. South America Nuclear Spent Fuel Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type of Reactor
10.2.2. By Storage Type
10.2.3. By Application
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Nuclear Spent Fuel Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Type of Reactor
10.3.1.2.2. By Storage Type
10.3.1.2.3. By Application
10.3.2. Colombia Nuclear Spent Fuel Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Type of Reactor
10.3.2.2.2. By Storage Type
10.3.2.2.3. By Application
10.3.3. Argentina Nuclear Spent Fuel Market Outlook