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Nuclear Power Market Size, Share, Growth Trends, Industry Analysis, Key Players, Investment Opportunities and Forecast (2025-2032)
Nuclear Power Market size was valued at USD 38.23 Bn in 2024, and the total Nuclear Power revenue is expected to grow at a CAGR of 3.14% from 2025 to 2032, reaching nearly USD 48.95 Bn.
Format : PDF | Report ID : SMR_2690
Nuclear Power Market Overview
The nuclear power sector has witnessed remarkable technological development, mainly with the advent of Generation III+ & Generation IV reactors. These reactors are intended to be safer, more efficient, and capable of producing less waste compared to earlier generations. Nuclear energy produces carbon emissions in a very minimal amount; therefore, it is an alternative to fossil fuels. The nuclear power industry also creates high-paying jobs that are 400–800 employees per plant, and increases local economies.
The global nuclear power market is experiencing a Major revival in 2025, as previously, due to the pandemic, the nuclear power operation, supply chains, and long-term energy policies were highly affected, and now the market is experiencing significant growth due to the high energy demand and technological advancements in the market, which are helping to shape the nuclear markets. And there are many emerging opportunities which are transformative growth in 2025 and in the forecast period. In Small Modular Reactors (SMRs) the Commercial Pilots and Licensing, there are over 80 SMR designs that are in development, with NuScale’s VOYGR (77 MW), GE Hitachi’s BWRX-300, and China’s HTR-PM leading the charge.
Globally, the region Asia-Pacific dominated the market in 2024. They particularly focus on energy security and reducing greenhouse gas emissions which further strengthens nuclear power’s role, ensuring its continued growth and market dominance. Companies like Rosatom, EDF, and Westinghouse Electric dominate the nuclear power market due to their advanced reactor technology, and global project portfolios. Their strong international presence gives them a competitive edge in securing large-scale contracts.
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Nuclear Power Market Dynamics
Climate Change and Decarbonization Goals Drive the Nuclear Power Market Growth
Climate change and global decarbonization help to increase the market as nuclear energy provides a consistent source of electricity with almost nil greenhouse gas emissions. As many countries are not able to meet the emissions reduction targets that are set by different international agreements, for example, the Paris Agreement, they are turning to low-carbon energy sources. Unlike irregular renewables such as solar and wind. Nuclear power gives a consistent baseload supply, and it is making it a stable, low-carbon energy grid. Moreover, growing public and private sector investments in clean energy innovation are helping in the development of advanced nuclear technologies such as small modular reactors and next-generation reactors. These technologies enhanced safety, lower capital costs, and greater flexibility, and this help to accelerate the deployment of nuclear power in both developed and developing nations.
Hybrid Energy System Creates a Future Opportunity for the Nuclear Power Market
Hybrid Energy Systems combines nuclear energy, hydrogen production, and renewables to create a transformative opportunity for the future of industrial nuclear energy. By mixing the stable, always-on power and high-temperature heat from nuclear with the intermittent but clean energy from solar and wind, these systems can deliver reliable and flexible power to industries that demand continuous operations. High electricity from renewables or nuclear can be used to produce green hydrogen, which serves as both a clean fuel and a form of energy storage, helping balance supply and demand.
High Capital cost restrains the Nuclear Power Market
The cost of construction of a Nuclear Power Plant is much higher compared to other energy sources like solar or wind farms, which can be built relatively quickly. The building of a nuclear power plant takes a lot of time, as it needs precision and accuracy in construction. Nuclear projects experience cost overruns and delays due to regulatory hurdles, engineering challenges, and changes in political or public support.
Nuclear Power Market Segment Analysis
Based on Reactor type, the nuclear power market is segmented into Pressurised Water Reactor, Pressurised Heavy Water Reactor, Boiling Water Reactor, High-temperature Gas-cooled Reactor, Liquid Metal Fast Breeder Reactor, Small Modular Reactors (SMRs), Microreactors and Other Reactor types. In this segment pressurised water reactor dominated the market in 2024 and expected to dominate the market in the forecast period. Pressurised water reactors give advanced and best technology, operational stability, and high safety features. Their wide adoption is apparent in countries like the United States, France, and China, where they have the significant number of PWR units.
Based on Application, the Nuclear power market is segmented into Energy, Defence and others. In this segment, Energy dominated the market in 2024 and will also dominate the market in the forecast period. Nuclear power provides low-carbon, baseload electricity, which is essential for meeting the high global energy demand. Many countries, like the US and China, have invested in nuclear energy to reduce carbon emissions
Nuclear Power Market Regional Insights
The Asia-Pacific region dominated the global nuclear power market in 2024 due to their energy demand and rapid industrialisation
The Asia-Pacific region has dominated the global nuclear power market. The dominance is due to high energy demand and high industrial growth of major economies such as China and India. China has extended its nuclear power capacity as a strategy to reduce dependence on coal and lower carbon emissions. The government's policies and investments in nuclear power plants and their targets for clean energy have helped position the country as a global leader in nuclear power development. India is also expanding its nuclear capacity to fulfil the electricity demand while taking care of the environment as well. Countries in this Asia-Pacific region get benefit from newer reactor technologies and faster regulatory approvals, which help in project execution.
Nuclear Power Market Competitive Analysis
In the global nuclear power market, companies like Rosatom, EDF and Westinghouse Electric dominate the industry due to high entry barriers and strict regulations. The company compete based on nuclear reactor technology, fuel supply services, and long-term operation. The Westinghouse Electric Company and Framatome are two top players with strong international footprints in the nuclear power market. Westinghouse is the contractor of nuclear technology and fuel. Its creation AP1000 reactor, which is a Generation III+ pressurised water reactor (PWR) which is passive safety systems and modular construction. The company also provides advanced nuclear fuel, outage services, and digital instrumentation. Westinghouse leads nuclear energy developments mostly in Asia and Eastern Europe, whereas EFD company plays in the nuclear reactor design, fuel manufacturing, and plant services arena. It produces EPR (European Pressurised Reactor), a large-scale generation III+ reactor for many projects such as those in France, Finland and China. Alongside this, Framatome also remains the major supplier of fuel assemblies and digital solutions for reactor operation and safety upgrades.
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Nuclear Power Market |
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Market Size in 2024 |
USD 38.23 Bn |
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Market Size in 2032 |
USD 48.95 Bn |
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CAGR (2025-2032) |
3.14% |
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Historic Data |
2019-2024 |
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Base Year |
2024 |
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Forecast Period |
2025-2032 |
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Segments |
By Reactor type Pressurised Water Reactor Pressurised Heavy Water Reactor Boiling Water Reactor High-temperature Gas-cooled Reactor Liquid Metal Fast Breeder Reactor Small Modular Reactors (SMRs) Microreactors Other Reactor |
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By Application Energy Defence Others |
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Regional Scope |
North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe Asia Pacific – China, South Korea, India, Japan, South Korea, Australia, Indonesia, Philippines, Malaysia, Vietnam, Thailand, Rest of Asia Pacific region Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America |
Nuclear Power Market Key Players
North America
- Westinghouse Electric Company (United States)
- GE Hitachi Nuclear Energy (United States)
- Vistra Corp (United States)
- Bruce Power (Canada)
- Centrus Energy (United States)
- Cameco Corporation (Canada)
- Constellation Energy Corporation (United States)
- Exelon Corporation (United States)
- Ontario Power Generation (Canada)
Europe
- Rosatom (Russia)
- EDF Energy (United Kingdom)
- CEZ Group (Czechia)
- Nukem (Germany)
- Engie (France)
Asia Pacific
- China National Nuclear Corporation (CNNC) (China)
- Doosan Enerbility (South Korea)
- Larsen and Toubro (India)
- Shanghai Electric (China)
- Korea Hydro & Nuclear Power (KHNP) (South Korea)
Middle East and Africa
- Emirates Nuclear Energy Corporation (UAE)
South America
- Nuclearelectrica (Argentina)
- INVAP (Argentina)
Frequently Asked Questions
The Asia Pacific region held the largest market share of the Nuclear Power Market in 2024.
The key players of the Market are Rosatom, Doosan, GE Hitachi Nuclear Energy and many more.
The Global Nuclear Power Market size was USD 38.23 Bn in 2024.
The nuclear power market is segmented by reactor type and application
1. Global Nuclear Power Market: Introduction
1.1. Study Assumptions and Market Definition
1.2. Scope of the Study
1.3. Executive Summary
2. Global Nuclear Power Market: Competitive Landscape
2.1. SMR Competition Matrix
2.2. Key Players Benchmarking
2.2.1. Company Name
2.2.2. Product Segment
2.2.3. End-user Segment
2.2.4. Revenue (2024)
2.2.5. Geographical Presence
2.3. Market Structure
2.3.1. Market Leaders
2.3.2. Market Followers
2.3.3. Emerging Players
2.4. Mergers and Acquisitions Details
3. Global Nuclear Power Market: Dynamics
3.1. Nuclear Power Market: Trends
3.2. Nuclear Power Market: Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PORTER’s Five Forces Analysis
3.4. PESTLE Analysis
3.5. Regulatory Landscape by Region
3.6. Key Opinion Leader Analysis for the Global Industry
3.7. Analysis of Government Schemes and Initiatives for Industry
4. Global Nuclear Power Market: Global Market Size and Forecast By Segmentation (by Value USD Bn) (2024-2032)
4.1. Global Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
4.1.1. Pressurised Water Reactor
4.1.2. Pressurised Heavy Water Reactor
4.1.3. Boiling Water Reactor
4.1.4. High-temperature Gas-cooled Reactor
4.1.5. Liquid Metal Fast Breeder Reactor
4.1.6. Small Modular Reactors (SMRs)
4.1.7. Microreactors
4.1.8. Other Reactor
4.2. Global Nuclear Power Market: Size and Forecast, By Application(2024-2032)
4.2.1. Energy
4.2.2. Defence
4.2.3. Others
4.3. Global Nuclear Power Market: Size and Forecast, By Region (2024-2032)
4.3.1. North America
4.3.2. Europe
4.3.3. Asia Pacific
4.3.4. Middle East & Africa
4.3.5. South America
5. North America Nuclear Power Market: Size and Forecast By Segmentation (by Value USD Bn) (2024-2032)
5.1. North America Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
5.1.1. Pressurised Water Reactor
5.1.2. Pressurised Heavy Water Reactor
5.1.3. Boiling Water Reactor
5.1.4. High-temperature Gas-cooled Reactor
5.1.5. Liquid Metal Fast Breeder Reactor
5.1.6. Small Modular Reactors (SMRs)
5.1.7. Microreactors
5.1.8. Other Reactor
5.2. North America Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.2.1. Energy
5.2.2. Defence
5.2.3. Others
5.3. North America Nuclear Power Market: Size and Forecast, By Country (2024-2032)
5.3.1. United States
5.3.1.1. United States Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
5.3.1.1.1. Pressurised Water Reactor
5.3.1.1.2. Pressurised Heavy Water Reactor
5.3.1.1.3. Boiling Water Reactor
5.3.1.1.4. High-temperature Gas-cooled Reactor
5.3.1.1.5. Liquid Metal Fast Breeder Reactor
5.3.1.1.6. Small Modular Reactors (SMRs)
5.3.1.1.7. Microreactors
5.3.1.1.8. Other Reactor
5.3.1.2. United States Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.1.2.1. Energy,
5.3.1.2.2. Defence
5.3.1.2.3. Others
5.3.2. Canada
5.3.2.1. Canada Nuclear Power Market: Size and Forecast, By Reactor type(2024-2032)
5.3.2.1.1. Pressurised Water Reactor
5.3.2.1.2. Pressurised Heavy Water Reactor
5.3.2.1.3. Boiling Water Reactor
5.3.2.1.4. High-temperature Gas-cooled Reactor
5.3.2.1.5. Liquid Metal Fast Breeder Reactor
5.3.2.1.6. Small Modular Reactors (SMRs)
5.3.2.1.7. Microreactors
5.3.2.1.8. Other Reactor
5.3.2.2. Canada Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.2.2.1. Energy,
5.3.2.2.2. Defence
5.3.2.2.3. Others
5.3.3. Mexico
5.3.3.1. Mexico Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
5.3.3.1.1. Pressurised Water Reactor
5.3.3.1.2. Pressurised Heavy Water Reactor
5.3.3.1.3. Boiling Water Reactor
5.3.3.1.4. High-temperature Gas-cooled Reactor
5.3.3.1.5. Liquid Metal Fast Breeder Reactor
5.3.3.1.6. Small Modular Reactors (SMRs)
5.3.3.1.7. Microreactors
5.3.3.1.8. Other Reactor
5.3.3.2. Mexico Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.3.2.1. Energy,
5.3.3.2.2. Defence
5.3.3.2.3. Others
5.3.3.2.4.
5.3.4. Europe
5.3.4.1. Europe Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
5.3.4.2. Europe Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.4.3. Europe Nuclear Power Market: Size and Forecast, By Country (2024-2032)
5.3.5. United Kingdom
5.3.5.1. United Kingdom Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
5.3.5.2. United Kingdom Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.6. France
5.3.6.1. France Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
5.3.6.2. France Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.7. Germany
5.3.7.1. Germany Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
5.3.7.2. Germany Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.7.3.
5.3.8. Italy
5.3.8.1. Italy Nuclear Power Market: Size and Forecast, By Reactor Type(2024-2032)
5.3.8.2. Italy Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.8.3. )
5.3.9. Spain
5.3.9.1. Spain Nuclear Power Market: Size and Forecast, By Reactor type(2024-2032)
5.3.9.2. Spain Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.10. Sweden
5.3.10.1. Sweden Nuclear Power Market: Size and Forecast, By Reactor type(2024-2032)
5.3.10.2. Sweden Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.11. Russia
5.3.11.1. Russia Nuclear Power Market: Size and Forecast, By Reactor Type(2024-2032)
5.3.11.2. Russia Nuclear Power Market: Size and Forecast, By Application(2024-2032)
5.3.12. Rest of Europe
5.3.12.1. Rest of Europe Nuclear Power Market: Size and Forecast, By Reactor type(2024-2032)
5.3.12.2. Rest of Europe Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6. Asia Pacific Nuclear Power Market: Size and Forecast By Segmentation (by Value USD Bn) (2024-2032)
6.1. Asia Pacific Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.2. Asia Pacific Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3. Asia Pacific Nuclear Power Market: Size and Forecast, By Country (2024-2032)
6.3.1. China
6.3.1.1. China Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.1.2. China Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.2. S Korea
6.3.2.1. South Korea Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.2.2. South Korea Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.3. Japan
6.3.3.1. Japan Nuclear Power Market: Size and Forecast, By Reactor Type(2024-2032)
6.3.3.2. Japan Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.4. India
6.3.4.1. India Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.4.2. India Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.5. Australia
6.3.5.1. Australia Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.5.2. Australia Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.6. Indonesia
6.3.6.1. Indonesia Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.6.2. Indonesia Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.7. Philippines
6.3.7.1. Philippines Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.7.2. Philippines Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.8. Malaysia
6.3.8.1. Malaysia Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.8.2. Malaysia Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.9. Vietnam
6.3.9.1. Vietnam Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.9.2. Vietnam Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.10. Thailand
6.3.10.1. Thailand Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.10.2. Thailand Nuclear Power Market: Size and Forecast, By Application(2024-2032)
6.3.11. Rest of Asia Pacific
6.3.11.1. Rest of Asia Pacific Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
6.3.11.2. Rest of Asia Pacific Nuclear Power Market: Size and Forecast, By Application(2024-2032)
7. Middle East and Africa Nuclear Power Market: Size and Forecast By Segmentation (by Value USD Bn) (2024-2032)
7.1. Middle East and Africa Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
7.2. Middle East and Africa Nuclear Power Market: Size and Forecast, By Application(2024-2032)
7.3. Middle East and Africa Nuclear Power Market: Size and Forecast, By Country (2024-2032)
7.3.1. South Africa
7.3.1.1. South Africa Nuclear Power Market: Size and Forecast, By Reactor type(2024-2032)
7.3.1.2. South Africa Nuclear Power Market: Size and Forecast, By Application(2024-2032)
7.3.2. GCC
7.3.2.1. GCC Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
7.3.2.2. GCC Nuclear Power Market: Size and Forecast, By Application(2024-2032)
7.3.3. Nigeria
7.3.3.1. Nigeria Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
7.3.3.2. Nigeria Nuclear Power Market: Size and Forecast, By Application(2024-2032)
7.3.4. Rest of ME&A
7.3.4.1. Rest of ME&A Nuclear Power Market: Size and Forecast, By Reactor type(2024-2032)
7.3.4.2. Rest of ME&A Nuclear Power Market: Size and Forecast, By Application(2024-2032)
8. South America Nuclear Power Market: Size and Forecast By Segmentation (by Value USD Bn) (2024-2032)
8.1. South America Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
8.2. South America Nuclear Power Market: Size and Forecast, By Application(2024-2032)
8.3. South America Nuclear Power Market: Size and Forecast, By Country (2024-2032)
8.3.1. Brazil
8.3.1.1. Brazil Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
8.3.1.2. Brazil Nuclear Power Market: Size and Forecast, By Application(2024-2032)
8.3.2. Argentina
8.3.2.1. Argentina Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
8.3.2.2. Argentina Nuclear Power Market: Size and Forecast, By Application(2024-2032)
8.3.3. Colombia
8.3.3.1. Colombia Nuclear Power Market: Size and Forecast, By Reactor type(2024-2032)
8.3.3.2. Colombia Nuclear Power Market: Size and Forecast, By Application(2024-2032)
8.3.4. Chile
8.3.4.1. Chile Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
8.3.4.2. Chile Nuclear Power Market: Size and Forecast, By Application(2024-2032)
8.3.5. Rest Of South America
8.3.5.1. Rest of South America Nuclear Power Market: Size and Forecast, By Reactor Type (2024-2032)
8.3.5.2. Rest of South America Nuclear Power Market: Size and Forecast, By Application(2024-2032)
9. Company Profile: Key Players
9.1 Westinghouse Electric Company
9.1.1 Company Overview
9.1.2 Business Portfolio
9.1.3 Financial Overview
9.1.4 SWOT Analysis
9.1.5 Strategic Analysis
9.1.6 Recent Developments
9.2 GE Hitachi Nuclear Energy
9.3 Vistra Corp
9.4 Bruce Power
9.5 Centrus Energy
9.6 Cameco Corporation
9.7 Constellation Energy Corporation
9.8 Exelon Corporation
9.9 Ontario Power Generation
9.10 Rosatom
9.11 Areva
9.12 EDF Energy
9.13 CEZ Group
9.14 Nukem
9.15 Engie
9.16 China National Nuclear Corporation
9.17 Doosan Enerbility
9.18 Larsen and Toubro
9.19 Shanghai Electric
9.20 Korea Hydro & Nuclear Power
9.21 Emirates Nuclear Energy Corporation
9.22 Nuclearelectrica
9.23 INVAP
10 Key Findings
11 Industry Recommendations
12 The Nuclear Power Market: Research Methodology
