What are the recent trends in market size and growth for the nuclear electricity market?
The nuclear electricity market size has grown steadily in recent years. It will grow from $270.08 billion in 2024 to $281.57 billion in 2025 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to low carbon emissions, energy security, government support, long lifespan.
The nuclear electricity market size is expected to see steady growth in the next few years. It will grow to $328.08 billion in 2029 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to climate change mitigation, energy transition, aging nuclear fleet, public acceptance. Major trends in the forecast period include international collaboration, technological advancements, nuclear innovation hubs, green financing and esg focus, grid integration, advanced reactor designs.
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How have varous drivers impacted the growth of the nuclear electricity market?
The growing demand for electricity is expected to be a key driver of the nuclear power generation market in the forecast period. This can be attributed to growing economies and rising populations, especially in developing countries such as China, India, Brazil, And Some African Countries. For instance, in March 2023, according to Indian Express, an India-based e-newspaper, in 2022, India experienced an 8% increase in power demand, nearly double the growth rate of the Asia Pacific region, resulting in over 149.7 terawatt-hours. During the initial two months of 2023, demand surged by 10% compared to the previous year. Industrial and commercial sectors contribute to over 50% of India’s yearly power consumption, with households representing a quarter, and agriculture covering more than one-sixth in recent years. Therefore, the demand for electricity and driving the growth of nuclear electricity market going forward.
What are the primary segments of the nuclear electricity market?
The nuclear electricity market covered in this report is segmented –
1) By Reactor Type: Pressurized Water Reactors (PWR), Fast Breeder Reactor (FBR), Pressurized Heavy-Water Reactor (PHWR), Boiling Water Reactor (BWR), Light Water Graphite Reactor (LWGR), Gas-Cooled Reactor (GCR)
2) By Technology: Generation I, Generation II, Generation III, and Generation IV
3) By End-User: Residential, Commercial, Industrial
Subsegments:
1) By Pressurized Water Reactors (PWR): Small Modular PWRs, Conventional Large PWRs
2) By Fast Breeder Reactor (FBR): Sodium-Cooled FBR, Lead-Cooled FBR, Gas-Cooled FBR
3) By Pressurized Heavy-Water Reactor (PHWR): Advanced PHWRs, Conventional PHWRs
4) By Boiling Water Reactor (BWR): Advanced BWR (ABWR), Economic Simplified BWR (ESBWR)
5) By Light Water Graphite Reactor (LWGR): RBMK (Reaktor Bolshoy Moshchnosti Kanalny), EGP (Experimental Graphite Reactors)
6) By Gas-Cooled Reactor (GCR): Magnox Reactors, Advanced Gas-Cooled Reactors (AGR)
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Which firms are leading the nuclear electricity market?
Major companies operating in the nuclear electricity market include Électricité de France S.A., Exelon Corporation, Duke Energy Corporation, Enel SpA, NextEra Energy Inc., State Atomic Energy Corporation Rosatom, Korea Electric Power Corporation, Constellation Energy Group Inc., China General Nuclear Power Corporation, Enel Green Power S.p.A., General Electric Company, Hitachi Ltd., Mitsubishi Electric Corporation, Toshiba Corporation, Westinghouse Electric Company LLC, Areva SA, China National Nuclear Corporation, China National Nuclear Power Co. Ltd., Dominion Energy Inc., Southern Company, Bruce Power LP, Korea Hydro & Nuclear Power Co. Ltd., Rosenergoatom Concern JSC, TVEL Fuel Company, Urenco Limited
How will industry trends affect the trajectory of the nuclear electricity market?
Major companies operating in the nuclear electricity market are investing in nuclear innovation company such as TerraPower on its flagship technology called as Natrium to gain a competitive edge in the market. Natrium combines a sodium fast reactor with an economically competitive energy storage system based on molten salt. For instance, In November 2022, ArcelorMittal, Luxembourg-based leading steel and mining company, invested $25 million in breakthrough nuclear power innovator TerraPower. TerraPower is an US-based nuclear reactor design and development engineering company. The combination of a cost-effective sodium fast reactor and molten salt energy storage system through its leading technology, Natrium, offers clean, adaptable energy and harmonizes effortlessly with grids rich in renewable sources.
Which geographic trends are shaping the nuclear electricity market, and which region has the highest market share?
Asia-Pacific was the largest region in the nuclear electricity market in 2023. Western Europe was the second-largest region in the nuclear electricity market. The regions covered in the nuclear electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The Nuclear Electricity Market Report 2025 Offer?
The nuclear electricity market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Nuclear electricity refers to a clean and efficient way of boiling water to make steam, which turns turbines to produce electricity. The heat produced in the nuclear power reactor core during nuclear fission is used to boil water into steam, which converts the blades of a steam turbine. As the turbine blades turn, they drive generators that produce electricity.
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