Nuclear Power market

Overview

The nuclear power market is expected to increase from USD 38.84 billion in 2024 to USD 44.71 billion by 2029, which translates into a CAGR of 2.9% during the forecast period. Nuclear power strengthens national energy security by providing an uninterrupted and dependable supply of electricity. In addition, nuclear power plants increase energy independence by decreasing the need for unstable imports of fossil fuels and outlasting times of geopolitical stress. Overall, the nuclear power segment is a unique mix of reliability and geostrategic edge, making it crucial in the future of energy markets.

Attractive Opportunities in the Nuclear Power Market

ASIA PACIFIC

Asia Pacific is projected to hold the largest share of the nuclear power market during the forecast period owing to rapid industrialization, energy demand increase, and government initiatives under the goals of decarbonization.

The dominance of Asia Pacific in the nuclear power market is largely driven by rising global energy demand combined with technological advancements.

Product launches, technological advancements, and emerging technologies will offer lucrative opportunities for market players in the next five years.

The growth of the nuclear power market can be attributed to the commitment of many countries to reducing carbon emissions to mitigate climate change. Moreover, rapid urbanization and infrastructure development also drive the market.

The issue of managing radioactive waste remains a significant challenge.

Global Nuclear Power Market Dynamics

Driver: Escalating demand for clean energy

With countries catching on to the fact that nuclear energy can help deal with the challenges of energy security and climate change, more demand for clean energy propels the nuclear power market. Nuclear Energy Project in the World According to projections by the International Atomic Energy Agency, the global nuclear capacity has upwardly revised; by 2050, it points to an increase of 25% above previously done projections that were based on estimations from 2020.

Several countries have begun to understand and recognize its position as an important solution to many problems concerning energy security and climate change. In the light of the increasing worldwide consensus of nations toward nuclear power as a low-carbon, reliable source of energy to be used in the attainment of decarbonization goals and complementing energy security in response to volatile fossil fuel prices and geopolitical tensions.

Nuclear power delivers about 10 percent of the electricity in the world and as of July 2024, about 20 percent of Europe, according to the World Nuclear Association. This production is important in curbing carbon emissions since, traditionally, it is one of the biggest sources of carbon-free electricity.

Restraints: Requirement for high initial investment

Nuclear power plants are among the most capital-intensive sources of electricity. This means high initial capital and maintenance costs. Capital costs, including financing (at a high discount rate), for nuclear power for a 2,200 MWe plant range between USD 3,000 and USD 4,000 per kilowatt. LCOE varies from USD 129/MWh to USD 198/MWh, considering specific factors like a particular location, the regulatory environment applicable at that location, and a specific technology. This immense amount of spending is primarily attributed to its complex engineering and safety systems; in fact, such long lifetimes, up to 60 years, can easily compromise its safe operation.

The maintenance costs of nuclear power plants are relatively lower compared to their initial capital costs. Once operational, these facilities usually have low and stable operational costs. However, maintenance would include rigorous safety checks and regulatory compliance measures that may still incur significant costs over time. Decommissioning at the end of a plant's life cycle also adds to the financial burden, estimated to be around 9 to 15% of the initial capital cost. Another critical factor that determines the economics of nuclear power is the financing structure.

Opportunities: Significant focus on modernizing energy infrastructure

Nuclear-renewable hybrid energy systems (NRHES) are a new way of combining nuclear power with renewable sources such as solar, wind, or hydropower to provide the greatest strength for both. Such systems go a long way in solving some of the key issues in the energy transition, particularly regarding reliability, sustainability, and decarbonization across sectors. The system can offer constant baseload power to supplement the variability of the renewable source, whose generation varies with the weather.

Coupling these sources of energy, NRHES assures a grid with a constant electricity supply regardless of low renewable generation time. Hybrid systems can supplement these sectors, which include industrial processes, desalination, and hydrogen production to add low-carbon energy to electricity grids. Small modular reactors are core to the hybrid systems. This serves as a low-carbon replacement to aging fossil fuel plants while incorporating some 50 concepts under development worldwide for small modular reactors, which are designed suitable both for electric and non-electric applications, heating included with water desalination so as to stabilize grids at a lesser cost of a low carbon transition.

Other nuclear-renewable systems are being ventured at Idaho National Laboratory (INL) to power hydrogen production integrated with the intermittent usage of the resources.

Challenges: Complex decommissioning process and high cost of modification

Decommissioning and upgrading are serious problems facing the nuclear power market. Decommissioning is defined as decontamination followed by the step-by-step removal of a nuclear plant by an owner who intends to retire it. Decommissioning involves defueling, followed by coolant removal; the NRC defines it, however, as starting only when such elements are removed from a decommissioned plant. Its process ends with license revocation after verification of successful decontamination and waste removal.

According to the IAEA, the decommissioning and waste management of a nuclear reactor will cost about USD 500 million to USD 2 billion by April 2023. The decommissioning of gas-cooled graphite-moderated reactors is costlier than that of pressurized or boiling water reactors as they are larger and more complicated in size. For large fuel cycle facilities such as spent fuel reprocessors, decommissioning costs come in the range of about 4 billion USD to be completed over more than 30 years. It will cost over 20 million USD and take between 5 to 10 years to decommission a research reactor that has a thermal output of 10 megawatts; this would depend upon other factors, such as the size and purpose of the reactor and its operating history.

Global Nuclear Power Market Ecosystem Analysis

The nuclear power market ecosystem represents a sophisticated and interdependent network of stakeholders playing crucial roles in ensuring that nuclear energy is safe, efficient, and sustainable. Manufacturers of components and equipment play central roles since they supply essential technology and parts, including reactor components, cooling systems, and safety equipment. Nuclear reactor providers are responsible for maintaining the day-to-day operations of reactors, meeting strict safety standards while producing optimal energy levels. Waste management and decommissioning service providers are responsible for handling and processing radioactive waste and carrying out the safe decommissioning of plants at the end of their operational life. Operation and maintenance service providers must provide ongoing technical support, maintenance, and upgrades to ensure reactors operate safely and efficiently.

Off-grid segment to grow at highest CAGR during forecast period

Off-grid nuclear systems grant regular access to energy sources in remote and isolated sites where grid infrastructure is out of reach or unreliable. Through these systems, electricity will be supplied to vital services: health, education, and communication service, thus improving living conditions. Microreactors would highly thrive in such environments in the light of sustainable, constant power but without necessarily requiring huge infrastructural setups to be supported, especially in their deployment towards rural electrification and industries. Off-grid nuclear systems offer the possibility of being independent at the community level, industrial level, or country level because they do not depend on the central grid or on imports for sources of their energy. In the event of a failure in the grid or geopolitical instability, these systems will provide a continuous and self-sustaining energy supply. It is highly beneficial for remote military bases, research stations, or island communities because they require reliable energy solutions to continue their operations and survival. Nuclear off-grid solutions provide reliable power in disaster-prone regions or in areas where there are frequent grid failures. Such systems can operate completely off the central grid and can ensure a continuous supply during emergencies.

Small nuclear reactors to be fastest-growing segment during forecast period

Many governments are promoting small nuclear reactors through policy frameworks, funding programs, and research initiatives. Such efforts are aimed at accelerating the deployment of SNRs within clean energy strategies. Innovating policies, financial incentives, investments, and favorable conditions allow for the widespread use of small nuclear technologies. SNRs will be the ideal technology in remote areas where infrastructures are few. A reliable source of power for a remote area would be provided. Their compact size makes them usable in remote locations, from islands to mining and military bases, where large-scale reactors are not feasible to deploy. This guarantees electricity access with stable, low-carbon origins in areas where the grid connection is difficult, thus minimizing reliance on expensive, polluting diesel generators. Modularity also enables the deployment of small nuclear reactors, in which the deployment can grow by adding modules as requirements increase. It thus fits regions experiencing fluctuating or gradually rising energy demands. Modular design facilitates phased deployment and helps reduce higher upfront costs with efficient resource utilization. Also, advanced small reactors feature innovative safety technologies such as passive cooling systems and integrated containment designs. Such features reduce the chance of accidents along with operational intricacy and make SNRs safer and more acceptable in the eyes of the public and regulatory bodies.

Asia Pacific to exhibit highest CAGR during forecast period

The Asia Pacific is rapidly emerging as the regional key player in the global nuclear power market. Growth factors include increasing demand, fast-paced urbanization, and aggressive decarbonization agendas. China, India, South Korea, and Japan have led by using nuclear energy to answer to power shortages and lower their greenhouse gas emissions. China is currently leading the pack for the region in the area of investments in advanced nuclear technologies, including SMRs, with the purpose of diversifying a clean energy portfolio that will eventually aim at achieving carbon neutrality. To that effect, India will focus on nuclear power meeting electricity needs that keep increasing even as it remains committed to climate change mitigation. Nuclear expansion is fueled further by support from the government and international cooperation. For example, Japan has refocused on energy security by restarting reactors and promoting advanced technologies in its net-zero strategy. South Korea is building its nuclear sector at home but then opening up the rest of the world to the reactor design and export expertise of the country. Overall, the Asia Pacific nuclear power market is growing on account of strong government policies, technological advancements, and international partnerships.

LARGEST MARKET IN 2024- 2029

CANADA FASTEST GROWING MARKET IN THE REGION

Recent Developments of Nuclear Power Market

In September 2024, France's Nuclear Safety Authority approved EDF (France) to begin the divergence process at the Flamanville 3 reactor, marking the start of its first nuclear reaction. After months of testing, the reactor will generate a low-power stable nuclear reaction at 0.2% capacity, with plans to gradually increase power. Once it reaches 25%, the reactor will be connected to the electricity grid by autumn 2024, followed by further testing and power ramp-up.

In January 2024, Capital Power (Canada) and Ontario Power Generation (Canada) entered into an agreement to jointly assess the development and deployment of grid-scale small modular reactors (SMRs) to provide clean, reliable nuclear energy for Alberta. The two companies will examine the feasibility of developing SMRs in Alberta through the agreement, including possible ownership and operating structures. SMRs are being pursued by jurisdictions in Canada and worldwide to power the growing demand for clean electricity and energy security.

In March 2024, Enel Spa (Italy) and Ansaldo Nucleare (Italy) signed an agreement to examine and evaluate new technologies and business models for the generation of nuclear energy, such as small modular reactors (SMRs) and advanced modular reactors (AMRs), and their industrial applicability. These are state-of-the-art innovative reactors, some of which are still under development, which will potentially enable electricity generation from nuclear sources sustainably and economically, ensuring a high degree of versatility and flexibility during operation. The agreement aims to explore the prospects of these two cutting-edge technologies, analyzing their opportunities from an industrial point of view.

In June 2022, Bechtel Corporation (US), a trusted engineering, construction, and project management partnered with the global nuclear industry, signed a memorandum of understanding with Toshiba America Energy Systems (US) and Toshiba Energy Systems & Solutions (US) to pursue a new civil nuclear power plant project in Poland.

Key Market Players

List of Top Nuclear Power Market Companies

The Nuclear Power Market is dominated by a few major players that have a wide regional presence. The major players in the Nuclear Power Market are

The State Atomic Energy Corporation ROSATOM (Russia)
EDF (France)
MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan)
AtkinsRéalis (Canada)
Ontario Power Generation Inc. (Canada)
Bilfinger SE (Germany)
Westinghouse Electric Company LLC. (US)
Southern Company (US)
Enel Spa (Italy)

Holtec International (US)
Bechtel Corporation (US)
KEPCO (South Korea)
Duke Energy Corporation (US)
Tokyo Electric Power Company Holdings, Inc. (Japan)
Rolls-Royce plc (UK)
ULTRA SAFE NUCLEAR (US)
Seaborg Technologies (Denmark)

TERRAPOWER LLC (US)
Orana (France)
Thorcon CC BY-SA (Singapore)
ŠKODA JS a.s. (Czech Republic)
Last Energy, Inc. (US)
newcleo (Paris)
Vattenfall AB (Sweden)
China National Nuclear Corporation (China)

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Scope of the Report

Report Attribute	Details
Market size available for years	2020–2029
Base year considered	2023
Forecast period	2024–2029
Forecast units	Value (USD Million)
Segments Covered	Nuclear Power Market by type, capacity, connectivity, plant lifecycle stages, capacity application, and region.
Regions covered	Americas, Europe, Asia Pacific, and Middle East & Africa

Key Questions Addressed by the Report

What is the current size of the nuclear power market?

The current market size of the nuclear power market is USD 38.84 billion in 2024.

What are the major drivers for the nuclear power market?

Decarbonization Goals, Rising Global Energy Demand, and Technological Advancements are some of the major driving factors for the nuclear power market.

Which region is projected to be the second fastest-growing during the forecast period in the nuclear power market?

Europe is expected to be the second fastest-growing in the nuclear power market between 2024 and 2029. The European region, driven by net-zero carbon commitment, energy security concerns, and diminishing fossil fuel reliance, has led to growth in the nuclear power market.

Which will be the largest segment, by Application, during the forecast period in the nuclear power market?

Power generation is expected to hold the dominant share in the nuclear power market.

Which segment is projected to be the largest, by connectivity during the forecast period in the nuclear power market?

The Grid-connected segment is expected to be the fastest during the forecast period. As populations rise and economies develop, the demand for consistent electricity increases.

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TITLE

PAGE NO

INTRODUCTION

1.1 OBJECTIVE OF THE STUDY
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 MARKET SCOPE

MARKET SEGMENTATION

REGIONAL SCOPE
1.5 YEARS CONSIDERED
1.6 CURRENCY
1.7 LIMITATIONS
1.8 STAKEHOLDERS

RESEARCH METHODOLOGY

2.1 RESEARCH DATA
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION

SECONDARY DATA

- KEY DATA FROM SECONDARY SOURCES

PRIMARY DATA

- KEY DATA FROM PRIMARY SOURCES

- BREAKDOWN OF PRIMARY INTERVIEWS
2.3 MARKET SIZE ESTIMATION

BOTTOM-UP APPROACH

TOP-DOWN APPROACH

DEMAND-SIDE ANALYSIS

- ASSUMPTIONS FOR DEMAND-SIDE ANALYSIS

- CALCULATION FOR DEMAND-SIDE ANALYSIS

SUPPLY-SIDE ANALYSIS

- ASSUMPTION FOR SUPPLY-SIDE ANALYSIS

- CALCULATION FOR SUPPLY-SIDE
2.4 FORECAST

RESEARCH ASSUMPTIONS

LIMITATIONS OF RESEARCH

RISK ASSESSMENT

EXECUTIVE SUMMARY

PREMIUM INSIGHTS

MARKET OVERVIEW

5.1 INTRODUCTION
5.2 MARKET DYNAMICS

DRIVERS

RESTRAINTS

OPPORTUNITIES

CHALLENGES
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS
5.4 SUPPLY CHAIN ANALYSIS
5.5 ECOSYSTEM
5.6 CASE STUDY ANALYSIS
5.7 INVESTMENT AND FUNDING SCENARIO
5.8 TECHNOLOGY ANALYSIS

KEY TECHNOLOGIES

- POWER REACTOR TECHNOLOGY

COMPLEMENTARY TECHNOLOGIES

- GENERATION IV NUCLEAR TECHNOLOGY

ADJACENT TECHNOLOGIES

- ENERGY STORAGE TECHNOLOGIES
5.9 TRADE ANALYSIS

PATENT ANALYSIS

KEY CONFERENCES & EVENTS IN 2024–2025

PRICING ANALYSIS

- AVERAGE SELLING PRICE TREND, BY REGION

- INDICATIVE PRICING ANALYSIS, BY TYPE

REGULATORY LANDSCAPE

- REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

- REGULATORY FRAMEWORK

PORTER’S FIVE FORCES ANALYSIS

KEY STAKEHOLDERS AND BUYING CRITERIA

- KEY STAKEHOLDERS IN BUYING PROCESS

- BUYING CRITERIA

IMPACT OF GENERATIVE AI & AI ON THE NUCLEAR POWER MARKET

GLOBAL MACROECONOMIC OUTLOOK FOR NUCLEAR POWER MARKET

KEY PROJECT LIST OF SMALL MODULAR REACTOR

- OPERATIONAL PROJECTS

- UPCOMING PROJECTS

NUCLEAR POWER MARKET, BY TYPE

6.1 INTRODUCTION
6.2 NUCLEAR POWER PLANTS

PRESSURIZED WATER REACTOR (PWR)

PRESSURIZED HEAVY WATER REACTOR (PHWR)

BOILING-WATER REACTORS (BWR)

OTHERS

- ADVANCED GAS-COOLED REACTORS

- FAST BREEDER REACTORS

- PEBBLE-BED REACTORS

- REACTOR BOLSHOY MOSCHONTI KANALIY (RBMK) REACTORS
6.3 SMALL MODULAR REACTOR

HEAVY-WATER REACTORS

LIGHT-WATER REACTORS

- PRESSURIZED-WATER REACTORS

- BOILING-WATER REACTORS

HIGH-TEMPERATURE REACTORS

FAST-NEUTRON REACTORS

- LEAD-COOLED REACTORS

- LEAD-BISMUTH REACTORS

- SODIUM-COOLED REACTORS

MOLTEN SALT REACTORS

NUCLEAR POWER MARKET, BY PLANT LIFECYCLE STAGE

7.1 INTRODUCTION
7.2 ENGINEERING, PROCUREMENT, AND CONSTRUCTION (EPC)

TYPE

- NEW BUILD

- REFURBISHMENT & MODERNIZATION

EQUIPMENT TYPE

- NUCLEAR ISLAND

- CONVENTIONAL (TURBINE) ISLAND

- BALANCE OF PLANT (SWITCHYARD, TRANSFORMER)
7.3 MAINTENANCE & OPERATION SERVICES
7.4 DECOMMISSIONING

NUCLEAR POWER MARKET, BY CONNECTIVITY

8.1 INTRODUCTION
8.2 OFF-GRID
8.3 GRID-CONNECTED

NUCLEAR POWER MARKET, BY CAPACITY

9.1 INTRODUCTION
9.2 SMALL (LESS THAN 500 MW)
9.3 MEDIUM (500 MW – 1000 MW)
9.4 LARGE (ABOVE 1000 MW)

NUCLEAR POWER MARKET, BY APPLICATION

INTRODUCTION

POWER GENERATION

DESALINATION

INDUSTRIAL

NUCLEAR POWER MARKET, BY REGION

11.1 INTRODUCTION
11.2 ASIA PACIFIC

BY TYPE

BY PLANT LIFECYCLE STAGE

BY CONNECTIVITY

BY CAPACITY

BY APPLICATION

BY COUNTRY
11.3 EUROPE

BY TYPE

BY PLANT LIFECYCLE STAGE

BY CONNECTIVITY

BY CAPACITY

BY APPLICATION

BY COUNTRY
11.4 AMERICAS

BY TYPE

BY PLANT LIFECYCLE STAGE

BY CONNECTIVITY

BY CAPACITY

BY APPLICATION

BY COUNTRY
11.5 MIDDLE EAST & AFRICA

BY TYPE

BY PLANT LIFECYCLE STAGE

BY CONNECTIVITY

BY CAPACITY

BY APPLICATION

BY COUNTRY
11.6 KEY PLAYER STRATEGIES OVERVIEW

COMPETITIVE LANDSCAPE

12.1 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2023
12.2 REVENUE ANALYSIS OF TOP 5 PLAYERS, 2019-2023
12.3 BRAND/PRODUCT COMPARISON
12.4 COMPANY VALUATION AND FINANCIAL METRICS
12.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023

STARS

EMERGING LEADERS

PERVASIVE PLAYERS

PARTICIPANTS

COMPANY FOOTPRINT: KEY PLAYERS, 2023
12.6 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023

PROGRESSIVE COMPANIES

RESPONSIVE COMPANIES

DYNAMIC COMPANIES

STARTING BLOCKS

COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
12.7 COMPETITIVE SCENARIO AND TRENDS
12.8 THE STATE ATOMIC ENERGY CORPORATION ROSATOM

Business Overview

COMPANY PROFILES

13.1 Products & Services
13.2 Recent Developments
13.3 MnM View

EDF

MITSUBISHI NUCLEAR ENERGY SYSTEMS, INC.

ATKINS RÉALIS

ONTARIO POWER GENERATION INC.

BILFINGER SE

WESTINGHOUSE ELECTRIC COMPANY LLC

SOUTHERN COMPANY.

ENEL SPA

HOLTEC INTERNATIONAL.

BECHTEL CORPORATION

KOREA ELECTRIC POWER CORPORATION

DUKE ENERGY CORPORATION

TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.

ROLLS ROYCE

CHINA NATIONAL NUCLEAR CORPORATION

NUSCALE POWER, LLC.

ORANA GROUP

ULTRA SAFE NUCLEAR

VATTENFALL AB

THORCON CC BY-SA

BULGARIAN ENERGY HOLDING EAD.

TERRAPOWER, LLC

HITACHI-GE NUCLEAR ENERGY, LTD.

SEABORG TECHNOLOGIES

LAST ENERGY, INC.

NEWCLEO

INSIGHTS OF INDUSTRY EXPERTS

DISCUSSION GUIDE

APPENDIX

14.1 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.2 CUSTOMIZATION OPTIONS
14.3 RELATED REPORTS
14.4 AUTHOR DETAILS

This research study involves the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg L.P., Factiva, ICIS, and OneSource, to identify and collect information useful for this technical, market-oriented, and commercial study of the global nuclear power market. Primary sources are mainly industry experts from core and related industries, preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the value chain of this industry. In-depth interviews were conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as assess growth prospects of the market.

Secondary Research

The secondary sources for this research study include annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, and databases of various companies and associations. Secondary research was mainly used to obtain key information about the supply chain and identify the key players offering nuclear power, market classification, and segmentation according to the offerings of the leading players, along with the industry trends to the bottom-most level, regional markets, and key developments from both, market- and technology oriented perspectives.

Primary Research

In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include industry experts such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, and related key executives from various companies and organizations operating in the nuclear power market.

In the complete market engineering process, the top-down and bottom-up approaches and several data triangulation methods were extensively used to perform the market size estimations and forecasts for all segments and subsegments listed in this report. Extensive qualitative and quantitative analyses were conducted to complete the market engineering process and list key information/insights throughout the report.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the size of the nuclear power market and its dependent submarkets. The key players in the market were identified through secondary research, and their market share in the respective regions was obtained through primary and secondary research. The research methodology includes the study of the annual and financial reports of top market players and interviews with industry experts, such as chief executive officers, vice presidents, directors, sales managers, and marketing executives, for key quantitative and qualitative insights related to the Nuclear Power market.

Nuclear Power Market : Top-Down and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and sub-segments. Data triangulation and market breakdown procedures have been used wherever applicable to complete the overall market engineering process and to arrive at the exact statistics for all segments and sub-segments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has been validated using both the top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources—the top-down approach, the bottom-up approach, and expert interviews. When the values arrived at from the three points matched, the data was assumed to be correct.

Market Definition

Nuclear power is produced through the energy released during nuclear fission. In nuclear power plants, electricity is generated by harnessing this process, where heavy atoms such as uranium-235 split when struck by a neutron. This splitting triggers a chain reaction, releasing more neutrons and significant heat. The heat is then used to produce steam, which drives turbines connected to generators, ultimately producing electricity.

The nuclear power market represents the sum of year-on-year installation of nuclear reactor capacities by global companies and electricity generated by nuclear power plants each year, covering the entire plant lifecycle stages. In this study, the sum of the year-on-year cost of decommissioning and maintenance & operation services has been considered. Additionally, the study also includes the revenues of the companies that are considered during the study period. In EPC segment, the equipment cost is also considered.

Stakeholders

Companies in the energy & power sector
Government and research organizations
Investment banks
Engineering, Procurement, and Construction companies
Decommissioning service providers
Maintenance & Operations services providers
Nuclear power plant owners/operators
Power and energy associations
Nuclear power plant equipment support service providers
Manufacturers of nuclear power plant equipment
Nuclear power plant equipment component manufacturers
Power generation companies
Heavy industries

Report Objectives

To define, describe, and forecast the nuclear power market based on type, connectivity, capacity, plant lifecycle stage, application, and region in terms of value
To forecast the nuclear power market by type and region in terms of volume
To describe and forecast the market for four key regions: Americas, Europe, Asia Pacific, Middle East & Africa, along with their country-level market sizes in terms of value
To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market size
To provide market dynamics, trends/disruptions impacting customer business, supply chain analysis, ecosystem analysis, case study analysis, investment and funding scenario, patent analysis, trade analysis, technology analysis, key conferences & events, regulatory landscape, pricing analysis, key stakeholders and buying criteria, global macroeconomic outlook for nuclear power market, Porter’s five forces analysis, pertaining to the nuclear power market
To benchmark players within the market using the company evaluation matrix, which analyzes market players on various parameters within the broad categories of business and product strategies
To compare key market players with respect to their market share, product specifications, and applications
To strategically profile key players and comprehensively analyze their market rankings and core competencies2
To analyze competitive developments, such as contracts & agreements, investments & expansions, mergers & acquisitions, partnerships, and collaborations, in the nuclear power market
To study the impact of AI/Gen AI on the market under study, along with the global macroeconomic outlook

Note: 1. Micromarkets are defined as the further segments and subsegments of the nuclear power market included in the report.
2. Core competencies of companies are captured in terms of their key developments and product portfolios, as well as key strategies adopted to sustain their position in the nuclear power market.

Available Customizations

MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.

The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

Further breakdown of the nuclear power market, by country

Nuclear Power Market by Plant Lifecycle Stage (EPC, Decommissioning, Operation & Maintenance), Type (Nuclear Power Plant, SMR), Application (Power Generation, Desalination, Industrial), Connectivity, Capacity, and Region - Global Forecast to 2029