Who are the key players in Nuclear Power Market?

GE-Hitachi Nuclear Energy, KEPCO Engineering & Construction, China National Nuclear Corporation, Westinghouse Electric Company LLC and SKODA JS AS are the major companies operating in the Nuclear Power Market. Read More

Which is the fastest growing region in Nuclear Power Market?

Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Nuclear Power Market?

In 2024, the Europe accounts for the largest market share in Nuclear Power Market. Read More

What years does this Nuclear Power Market cover, and what was the market size in 2023?

In 2023, the Nuclear Power Market size was estimated at 382.62 gigawatt. The report covers the Nuclear Power Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nuclear Power Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key challenges facing the Nuclear Power Market?

The key challenges facing the Nuclear Power Market are a) The high initial cost of setting up a nuclear power plant b) The long-term management and disposal of radioactive waste generated by nuclear power plants c) The increasing affordability and efficiency of renewable energy sources like solar and wind pose Read More

Nuclear Power Market Size

Q: What are the different segments of the Nuclear Power Market?

The different segments of the Nuclear Power Market are a) Application: Energy and Defense b) Reactor Types: Pressurized Water Reactor and Pressurized Heavy Water Reactor, Boiling Water Reactor, High-temperature Gas-cooled Reactor, Liquid-metal Fast-Breeder Reactor Read More

Market Size of Nuclear Power Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
CAGR (2024 - 2029)	2.00 %
Fastest Growing Market	Middle East and Africa
Largest Market	Europe
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Nuclear Power Market Analysis

The Nuclear Power Market size is estimated at 390.43 gigawatt in 2024, and is expected to reach 430.77 gigawatt by 2029, growing at a CAGR of 2% during the forecast period (2024-2029).

Over the medium term, factors such as the ability of nuclear energy to generate electricity with lower carbon emissions compared to fossil fuels have been driving the market's growth over the medium term.
On the other hand, the high initial cost of setting up a nuclear power plant and the availability of alternative power generation sources, such as renewable energy, is likely to restrain the market's growth during the forecast period.
Nevertheless, nations worldwide are researching and developing generation IV nuclear energy technologies to promote safety, technical, economic, and advanced small modular reactors. This, in turn, is likely to create several future opportunities for the market.
Asia-Pacific is expected to witness significant growth in the nuclear power market during the forecast period, owing to its substantial share of nuclear energy in China and India.

Nuclear Power Industry Segmentation

Nuclear power is derived from nuclear fission, nuclear decay, and nuclear fusion reactions. Most electricity produced by nuclear power is currently produced by nuclear fission in nuclear power plants using uranium and plutonium. Electricity derived from nuclear reactors, which generate heat by fission, is nuclear power. A nuclear power plant resembles a large coal-fired power plant in that it has pumps, valves, steam generators, turbines, electric generators, condensers, and other equipment similar to the reactor, which functions as a boiler in a fossil-fuel power plant.

The nuclear power market is segmented by application (energy, defense, and other applications), reactor type (pressurized water reactor and pressurized heavy water reactor, boiling water reactor, high-temperature gas-cooled reactor, liquid-metal fast-breeder reactor, and other reactor types), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report also covers the installed capacity and estimates for the nuclear power market across the major regions. The report offers the installed capacity and forecasts for nuclear power capacity for all the above segments.

By Application (Qualitative Analysis)
		Energy
		Defense
		Other Applications

By Reactor Type
		Pressurized Water Reactor and Pressurized Heavy Water Reactor
		Boiling Water Reactor
		High-temperature Gas-cooled Reactor
		Liquid-metal Fast-breeder Reactor
		Other Reactor Types

By Geography

North America
	United States
	Canada
	Rest of North America

Europe
	Germany
	United Kingdom
	Russia
	France
	Rest of Europe

Asia-Pacific
	China
	India
	Japan
	South Korea
	Rest of Asia-Pacific

South America
	Brazil
	Argentina
	Rest of South America

Middle East and Africa
	United Arab Emirates
	Saudi Arabia
	South Africa
	Iran
	Rest of Middle East and Africa

Need A Different Region Or Segment?

Customize Now

Nuclear Power Market Size Summary

The nuclear power market is poised for moderate growth over the forecast period, driven by its ability to generate electricity with lower carbon emissions compared to fossil fuels. This environmental advantage is increasingly important as global efforts to combat climate change intensify. However, the market faces challenges such as the high initial costs of nuclear power plant construction and competition from renewable energy sources. Despite these challenges, advancements in generation IV nuclear technologies and small modular reactors are expected to create new opportunities for market expansion. The Asia-Pacific region, particularly China and India, is anticipated to experience significant growth due to their substantial investments in nuclear energy infrastructure and commitment to increasing nuclear capacity.

Globally, nuclear power remains a critical component of the energy mix, offering a reliable and consistent electricity supply essential for meeting the rising energy demands of both industrialized and developing nations. While the market in North America and Europe has seen limited growth, countries in the Asia-Pacific region are actively planning and constructing new nuclear power plants to fulfill their clean energy goals. China's ambitious plans to enhance its nuclear capacity and India's commitment to expanding its nuclear power generation are key factors contributing to the region's expected market growth. The nuclear power market is semi-consolidated, with major players like GE-Hitachi Nuclear Energy, Westinghouse Electric Company, and China National Nuclear Corporation playing significant roles in shaping the industry's future.

Explore More

Nuclear Power Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Installed Capacity and Forecast, till 2029
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
    1. 1.5.1.1 Increase in Demand for Clean Energy
    2. 1.5.1.2 Plant Lifetime Extensions With Favorable Policies
  2. 1.5.2 Restraints
    1. 1.5.2.1 Intense Competition From Renewable Energy Sources
    2. 1.5.2.2 Accidents and Uncertainty over the Cost Effectiveness
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 Substitute Products and Services
  5. 1.7.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 By Application (Qualitative Analysis)
  1. 2.1.1 Energy
  2. 2.1.2 Defense
  3. 2.1.3 Other Applications
2. 2.2 By Reactor Type
  1. 2.2.1 Pressurized Water Reactor and Pressurized Heavy Water Reactor
  2. 2.2.2 Boiling Water Reactor
  3. 2.2.3 High-temperature Gas-cooled Reactor
  4. 2.2.4 Liquid-metal Fast-breeder Reactor
  5. 2.2.5 Other Reactor Types
3. 2.3 By Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Rest of North America
  2. 2.3.2 Europe
    1. 2.3.2.1 Germany
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 Russia
    4. 2.3.2.4 France
    5. 2.3.2.5 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 India
    3. 2.3.3.3 Japan
    4. 2.3.3.4 South Korea
    5. 2.3.3.5 Rest of Asia-Pacific
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle East and Africa
    1. 2.3.5.1 United Arab Emirates
    2. 2.3.5.2 Saudi Arabia
    3. 2.3.5.3 South Africa
    4. 2.3.5.4 Iran
    5. 2.3.5.5 Rest of Middle East and Africa