North America Nuclear Reactor Construction Market Size

Market Size of North America Nuclear Reactor Construction Industry

Study Period	2020 - 2029
Base Year For Estimation	2023
Forecast Data Period	2024 - 2029
Historical Data Period	2020 - 2022
CAGR	-10.00 %
Market Concentration	Low
Major Players *Disclaimer: Major Players sorted in no particular order

North America Nuclear Reactor Construction Market Analysis

The North America nuclear reactor construction market is expected to decline at a CAGR of around 10% during the forecast period of 2020 - 2025. Factors such as a large number of reactors with age exceeding 30 years and shift of energy generation from oil and gas towards nuclear energy are expected to be major drivers driving the market. Also, advancement in technology, leading to an increase in efficiency and reliability of modern nuclear power plants, has been a significant factor for the growth of the North America nuclear reactor construction market. However, renewable sources of energy making nuclear power uneconomical has somewhat hampered the growth of the market.

The pressurized water reactor has dominated the market in recent years and is expected to dominate the market in the forecast period, owing to factors like low cost operating reactor, as both the coolant and the moderator used in the reactor is light water and relatively higher controllable and safer nature of the reactor.
The increase in electricity demand in the region is expected to provide an excellent opportunity for the Asia-Pacific nuclear reactor construction market in the forecast period.
United States is expected to dominate the market, over rising concerns over pollution from energy plants based on coal and rising electricity demand. The country is the largest electricity generator from nuclear power plants in the region and produced 849.6 TWh of electricity from its nuclear power plants.

North America Nuclear Reactor Construction Industry Segmentation

The North America nuclear reactor construction market report include:

Service
		Equipment
		Installation

Reactor Type
		Pressurized Water Reactor
		Pressurized Heavy Water Reactor
		Boiling Water Reactor
		High-temperature Gas Cooled Reactor
		Liquid Metal Fast Breeder Reactor

Geography
		United States
		Canada
		Rest of North America

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North America Nuclear Reactor Construction Market Size Summary

The North America nuclear reactor construction market is experiencing a shift due to the aging of existing reactors and a transition towards nuclear energy from traditional oil and gas sources. Technological advancements have enhanced the efficiency and reliability of modern nuclear power plants, contributing to market growth. However, the rise of renewable energy sources has posed challenges, making nuclear power less economically attractive. The pressurized water reactor (PWR) has been a dominant force in the market, favored for its cost-effectiveness and safety features. The United States, with its significant electricity generation from nuclear power, is expected to maintain its leadership in the region, driven by concerns over coal pollution and increasing electricity demand.

The United States is actively expanding its nuclear capabilities, with new projects like the Westinghouse AP1000 reactors in Georgia and small modular reactor demonstrations. Government initiatives, such as the Nuclear Energy Renewal Act, aim to reduce operational costs and enhance research and development, supporting the growth of the nuclear sector. The U.S. is also focusing on maintaining its competitive edge in the global nuclear market against countries like Russia and China. The market is moderately consolidated, with key players including Rosatom State Nuclear Energy Corporation, Westinghouse Electric Company, and GE-Hitachi Nuclear Energy, among others, indicating a competitive landscape for future developments.

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North America Nuclear Reactor Construction Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Market Size and Demand Forecast in USD billion, till 2025
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
  2. 1.5.2 Restraints
6. 1.6 Supply Chain Analysis
7. 1.7 Porter's Five Forces Analysis
  1. 1.7.1 Bargaining Power of Suppliers
  2. 1.7.2 Bargaining Power of Consumers
  3. 1.7.3 Threat of New Entrants
  4. 1.7.4 Threat of Substitutes Products and Services
  5. 1.7.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 Service
  1. 2.1.1 Equipment
  2. 2.1.2 Installation
2. 2.2 Reactor Type
  1. 2.2.1 Pressurized Water Reactor
  2. 2.2.2 Pressurized Heavy Water Reactor
  3. 2.2.3 Boiling Water Reactor
  4. 2.2.4 High-temperature Gas Cooled Reactor
  5. 2.2.5 Liquid Metal Fast Breeder Reactor
3. 2.3 Geography
  1. 2.3.1 United States
  2. 2.3.2 Canada
  3. 2.3.3 Rest of North America

North America Nuclear Reactor Construction Market Size FAQs

Who are the key players in North America Nuclear Reactor Construction Market?

Rosatom State Nuclear Energy Corporation , Westinghouse Electric Company LLC (Toshiba) , GE-Hitachi Nuclear Energy Inc., Mitsubishi Heavy Industries Ltd and Electricite de France SA (EDF) are the major companies operating in the North America Nuclear Reactor Construction Market.

What years does this North America Nuclear Reactor Construction Market cover?

The report covers the North America Nuclear Reactor Construction Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the North America Nuclear Reactor Construction Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.