Nuclear Power Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Global Nuclear Energy Market Size and Share and 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 Offers the Installed Capacity and Forecasts of Nuclear Power Market for all the Above Segments.

Nuclear Power Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Nuclear Power Market Size

Nuclear Power Market Summary
Study Period 2019 - 2030
Market Volume (2025) 398.24 gigawatt
Market Volume (2030) 439.69 gigawatt
CAGR 2.00 %
Fastest Growing Market Middle East and Africa
Largest Market Europe
Market Concentration Medium

Major Players

Nuclear Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Nuclear Power Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

Decommissioning

Emerging Energy Technologies

Energy Storage Technology

Nuclear Power Market Analysis

The Nuclear Power Market size is estimated at 398.24 gigawatt in 2025, and is expected to reach 439.69 gigawatt by 2030, at a CAGR of 2% during the forecast period (2025-2030).

The nuclear power industry is experiencing a significant transformation as countries worldwide reassess their energy strategies to meet growing power demands while reducing carbon emissions. The industry has witnessed substantial technological advancements, particularly in reactor designs and safety systems, with Generation III+ and Generation IV reactors becoming increasingly prevalent. France continues to lead in nuclear energy adoption, with nuclear power contributing approximately 75% of its total electricity generation, demonstrating the potential for large-scale nuclear deployment in national energy portfolios. This shift is further evidenced by major economies investing in nuclear research and development, focusing on enhanced safety features and improved operational efficiency.


The emergence of small modular reactors (SMRs) represents a revolutionary development in the nuclear power sector, offering more flexible and cost-effective solutions compared to traditional large-scale reactors. These innovative designs are gaining traction globally, with several countries advancing their SMR programs through research, development, and commercial deployment initiatives. The United Arab Emirates exemplifies the industry's progress, with its Barakah nuclear power plant's Unit 2 achieving commercial operations in 2021, adding 1.3 GW of clean energy capacity to the grid. This milestone highlights the growing confidence in nuclear technology and its role in future energy systems.


International collaboration has become increasingly prominent in the nuclear power industry, with countries forming strategic partnerships to share expertise and resources. China has emerged as a significant player in the global nuclear market, generating 366.2 TWh from nuclear power, representing 4.7% of its total electricity generation. The country's ambitious nuclear expansion program, coupled with its development of indigenous reactor technologies like the Hualong One, demonstrates the industry's dynamic evolution and the growing importance of technological self-reliance.


The industry is witnessing a notable shift towards advanced nuclear technologies, with significant investments in research and development of next-generation reactors. These developments focus on enhanced safety features, improved fuel efficiency, and reduced waste generation. The sector is also experiencing increased attention to nuclear waste management and decommissioning solutions, with countries developing comprehensive strategies for the entire nuclear fuel cycle. This holistic approach to nuclear power generation, combined with stringent safety protocols and environmental considerations, is reshaping the industry's future trajectory and its role in the global energy transition.

Segment Analysis: Application

Energy Segment in Nuclear Power Market

The energy segment continues to dominate the global nuclear power market in 2024, accounting for approximately 90% of the total market share. This segment primarily consists of nuclear power plants focused on electricity generation for commercial and residential use. The segment's dominance is driven by the large number of operational nuclear reactors worldwide, with countries like China, France, and the United States leading in nuclear power generation capacity. The increasing focus on clean energy sources and the need to reduce carbon emissions have led many countries to maintain or expand their nuclear power generation capabilities. Additionally, technological advancements in reactor designs, particularly in Generation III+ and Generation IV reactors, have enhanced the safety and efficiency of nuclear power plants, further strengthening the energy segment's position in the market.

Defense Segment in Nuclear Power Market

The defense segment is projected to witness the fastest growth in the nuclear power market during the forecast period 2024-2029. This growth is primarily driven by increasing investments in nuclear-powered naval vessels, particularly submarines and aircraft carriers. Countries like the United States, Russia, China, and India are expanding their nuclear-powered naval fleets, while others are developing new capabilities in this area. The segment's growth is further supported by technological advancements in small-scale nuclear reactors specifically designed for marine propulsion systems. The US Air Force's selection of Eielson Air Force Base to receive its first nuclear microreactor, which could be operational by 2027, demonstrates the expanding applications of nuclear power in defense installations. The development of new nuclear-powered military vessels and the modernization of existing fleets are expected to continue driving growth in this segment.

Remaining Segments in Nuclear Power Applications

The other applications segment in the nuclear power market primarily consists of research reactors and specialized applications in various industries. Research reactors play a crucial role in advancing nuclear technology, providing training facilities, and producing radioisotopes for medical and industrial applications. As of 2024, there are numerous research reactors operating across multiple countries, with Russia and the United States hosting the largest numbers. These facilities contribute to scientific research, material testing, and the development of new nuclear technologies. The segment also includes emerging applications such as nuclear-powered space exploration systems and small-scale reactors for remote locations. While smaller in market share, this segment remains vital for technological advancement and innovation in the nuclear power industry.

Segment Analysis: Reactor Type

PWR and PHWR Segment in Nuclear Power Market

The Pressurized Water Reactor (PWR) and Pressurized Heavy Water Reactor (PHWR) segment dominates the global nuclear power market, commanding approximately 81% of the total market share in 2024. This substantial market position is attributed to the segment's proven technology, lower operational costs, and widespread adoption across major nuclear power-generating countries. The United States, France, and China have significantly contributed to this segment's dominance, with numerous operational PWR units. The technology's maturity, reliability, and established safety protocols have made it the preferred choice for new nuclear power plant installations worldwide. The development of advanced PWR designs, such as the AP1000 and EPR (European Pressurized Reactor), has further strengthened this segment's market position by incorporating enhanced safety features and improved operational efficiency.

Market Analysis of Nuclear Power Market: Chart for Reactor Type

LMFBR Segment in Nuclear Power Market

The Liquid Metal Fast Breeder Reactor (LMFBR) segment is emerging as the fastest-growing segment in the nuclear power market for the forecast period 2024-2029. This growth is driven by the technology's unique ability to produce more fissile material than it consumes, making it highly efficient in uranium resource utilization. Countries like Russia, China, and India are making significant investments in LMFBR technology, with several new projects under construction and in planning stages. The segment's growth is further supported by its advanced safety features, including the use of liquid metal coolants that provide efficient heat transfer capabilities. The development of new LMFBR designs and the increasing focus on closing the nuclear fuel cycle are expected to drive substantial growth in this segment over the forecast period.

Remaining Segments in Reactor Type

The remaining segments in the nuclear power market include Boiling Water Reactors (BWR), High Temperature Gas-cooled Reactors (HTGR), and other reactor types. BWRs represent a significant portion of the market, particularly in countries like the United States and Japan, offering advantages such as simpler design and lower operating pressure. HTGRs are gaining attention for their potential in industrial applications due to their high operating temperatures, with countries like China and the UK showing increased interest in this technology. Other reactor types, including various experimental and research reactors, continue to play a role in advancing nuclear technology and supporting specialized applications, though their market impact remains relatively small compared to the dominant segments.

Nuclear Power Market Geography Segment Analysis

Nuclear Power Market in North America

The North American nuclear power market maintains a significant global presence, commanding approximately 27% of the worldwide installed capacity in 2024. The region's nuclear infrastructure is characterized by a mature fleet of reactors, particularly in the United States and Canada. The market dynamics are shaped by a dual focus on extending the operational lifetime of existing facilities while simultaneously exploring opportunities in small modular reactor (SMR) technology. Regulatory frameworks in both countries emphasize safety and operational excellence, while utilities continue to invest in modernization and efficiency improvements. The region's commitment to maintaining nuclear power as a reliable baseload power source remains strong, despite increasing competition from natural gas and renewable energy sources. Market participants are actively pursuing innovations in plant operations, maintenance protocols, and safety systems to ensure long-term viability. The sector also benefits from robust research and development initiatives, particularly in next-generation nuclear technologies and advanced fuel cycles.

Market Analysis of Nuclear Power Market: Forecasted Growth Rate by Region

Nuclear Power Market in Europe

Europe's nuclear power market has demonstrated resilience with a modest growth rate of approximately 0.3% annually from 2019 to 2024. The region's nuclear landscape is characterized by diverse national policies, with some countries pursuing aggressive expansion while others implement phase-out strategies. France continues to be the cornerstone of European nuclear power, maintaining its position as the region's largest nuclear energy producer. The market is witnessing significant investments in plant modernization and safety upgrades across operational facilities. European nations are increasingly focusing on the development of advanced reactor technologies and small modular reactors to complement their existing nuclear fleet. The region's commitment to decarbonization goals has led to renewed interest in nuclear energy as a stable, low-carbon energy source. Industry stakeholders are actively working on improving operational efficiency and implementing enhanced safety protocols while addressing public concerns about nuclear energy. The market also benefits from strong research and development capabilities and established supply chains.

Nuclear Power Market in Asia-Pacific

The Asia-Pacific nuclear energy market is positioned for robust expansion, with a projected annual growth rate of approximately 3% from 2024 to 2029. The region's nuclear sector is driven primarily by ambitious nuclear energy programs in China, India, and several emerging markets. This growth trajectory is supported by increasing electricity demand, urbanization, and industrial development across the region. The market is characterized by significant investments in new reactor construction, particularly in China, which leads global nuclear expansion efforts. Technology transfer agreements and domestic capability development are key features of the regional market landscape. Countries in the region are actively pursuing a mix of large-scale reactors and innovative nuclear technologies to meet their energy needs. The sector benefits from strong government support, established regulatory frameworks, and growing technical expertise. Market participants are focusing on developing indigenous capabilities in reactor design, construction, and operation while maintaining high safety standards.

Nuclear Power Market in South America

The South American nuclear power industry represents a developing segment within the global nuclear landscape, with Brazil and Argentina leading regional nuclear development efforts. The market is characterized by focused expansion plans and growing interest in nuclear technology as a solution for baseload power generation. Regional governments are increasingly recognizing nuclear power's potential role in achieving energy security and environmental goals. The sector benefits from established nuclear research programs and growing technical expertise in both countries. Market development is supported by international cooperation agreements and technology transfer initiatives. The region's nuclear infrastructure continues to evolve with investments in both existing facilities and new project developments. Industry stakeholders are working to strengthen domestic supply chains and develop local expertise while maintaining strong safety standards and operational excellence.

Nuclear Power Market in Middle East & Africa

The Middle East and African nuclear power generation market represents an emerging frontier in the global nuclear energy landscape, with several countries actively pursuing nuclear power programs. The region is witnessing increasing interest in nuclear technology as a solution for both electricity generation and water desalination needs. The United Arab Emirates leads the region's nuclear development, having successfully established its nuclear power program. Several other countries in the region are at various stages of nuclear power planning and development. The market is characterized by strong international partnerships and technology transfer agreements with established nuclear vendors. Regional governments are investing in developing domestic nuclear expertise and establishing robust regulatory frameworks. The sector benefits from growing recognition of nuclear power's potential role in economic diversification and sustainable development strategies. Market participants are focusing on building public acceptance while ensuring adherence to international safety standards and best practices.

Nuclear Power Industry Overview

Top Companies in Nuclear Power Market

The nuclear power market features prominent players, including Électricité de France (EDF), GE-Hitachi Nuclear Energy, Westinghouse Electric, China National Nuclear Corporation (CNNC), and Rosatom Corporation, leading the industry through various strategic initiatives. These nuclear power companies are heavily investing in research and development to advance nuclear reactor technologies, particularly in areas like small modular reactors and enhanced safety systems. The industry demonstrates a strong focus on operational excellence through the modernization of existing facilities and the implementation of advanced digital solutions for plant monitoring and control. Companies are expanding their geographical presence through strategic partnerships and joint ventures, particularly in emerging markets seeking to develop nuclear power capabilities. There is also an increasing emphasis on providing comprehensive lifecycle services, from initial plant design and construction to decommissioning and waste management solutions, reflecting the long-term nature of nuclear power investments.

Consolidated Market with High Entry Barriers

The nuclear power market exhibits a highly consolidated structure dominated by large, integrated corporations with extensive technical expertise and substantial financial resources. These established players typically operate as full-service providers, offering end-to-end solutions from reactor design and construction to maintenance and fuel services. The market shows strong regional variations in competitive dynamics, with state-owned enterprises playing significant roles in countries like China and Russia, while private corporations lead in Western markets. The high degree of market consolidation is reinforced by stringent regulatory requirements, extensive certification processes, and the need for proven track records in nuclear safety and reliability.


Recent market activities indicate a trend toward strategic consolidations and partnerships, particularly in developing advanced nuclear technologies and entering new geographical markets. Companies are increasingly forming technology-sharing alliances and joint ventures to share the substantial costs and risks associated with new nuclear power projects. The industry also sees vertical integration strategies, with major players expanding their capabilities across the nuclear value chain, from fuel fabrication to waste management services, to enhance their competitive positions and capture additional value streams.

Innovation and Adaptability Drive Future Success

Success in the nuclear energy service market increasingly depends on companies' ability to innovate while maintaining the highest safety standards and operational efficiency. Market leaders are focusing on developing next-generation reactor designs that address key concerns around safety, cost, and construction time. The ability to offer flexible financing solutions and risk-sharing mechanisms has become crucial, particularly for large-scale nuclear projects in emerging markets. Companies are also investing in digital technologies and advanced materials to improve plant performance and extend operational lifespans while developing solutions for waste management and decommissioning.


The market's future competitive landscape will be shaped by companies' responses to growing environmental concerns and the transition to cleaner energy sources. Success factors include the ability to demonstrate nuclear power's role in achieving carbon reduction goals while competing effectively with renewable energy alternatives. Companies must navigate complex regulatory environments across different markets while maintaining strong relationships with government stakeholders and local communities. The development of smaller, more modular reactor designs could potentially lower entry barriers and introduce new competitors, though established players' expertise and track records will remain significant advantages in this highly regulated industry.

Nuclear Power Market Leaders

  1. GE-Hitachi Nuclear Energy

  2. KEPCO Engineering & Construction

  3. China National Nuclear Corporation

  4. Westinghouse Electric Company LLC

  5. SKODA JS AS

  6. *Disclaimer: Major Players sorted in no particular order
Nuclear Power Market Concentration
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Nuclear Power Market News

  • February 2024: Iran commenced the construction of four additional nuclear power plants in the southern part of the country. These plants will have a combined capacity of 5,000 MW. The plants will be located in the port town of Sirik on Iran's East coast, about 1,150 km South of Tehran. The project is estimated to cost more than USD 20 billion. Each plant is projected to consume 35 tonnes of nuclear fuel per annum.
  • February 2024: India announced plans to add 18 additional nuclear power reactors with a cumulative capacity to generate 13,800 MWe of electricity, taking the total share of nuclear power in the energy mix to 22,480 MWe by 2031-2032. The plans were announced by the Nuclear Power Corporation of India Limited (NPCIL).
  • January 2024: The UK government announced plans for one of the country's most significant expansions of nuclear power in 70 years to strengthen its energy independence and meet carbon emission targets. The Civil Nuclear Roadmap includes exploring the construction of a significant new power station, with a total investment of about USD 382 million of investment to produce an advanced uranium fuel.

Nuclear Power Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Installed Capacity and Forecast, till 2029
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 Increase in Demand for Clean Energy
    • 4.5.1.2 Plant Lifetime Extensions With Favorable Policies
    • 4.5.2 Restraints
    • 4.5.2.1 Intense Competition From Renewable Energy Sources
    • 4.5.2.2 Accidents and Uncertainty over the Cost Effectiveness
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitute Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 By Application (Qualitative Analysis)
    • 5.1.1 Energy
    • 5.1.2 Defense
    • 5.1.3 Other Applications
  • 5.2 By Reactor Type
    • 5.2.1 Pressurized Water Reactor and Pressurized Heavy Water Reactor
    • 5.2.2 Boiling Water Reactor
    • 5.2.3 High-temperature Gas-cooled Reactor
    • 5.2.4 Liquid-metal Fast-breeder Reactor
    • 5.2.5 Other Reactor Types
  • 5.3 By Geography
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Rest of North America
    • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 United Kingdom
    • 5.3.2.3 Russia
    • 5.3.2.4 France
    • 5.3.2.5 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 India
    • 5.3.3.3 Japan
    • 5.3.3.4 South Korea
    • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
    • 5.3.5 Middle East and Africa
    • 5.3.5.1 United Arab Emirates
    • 5.3.5.2 Saudi Arabia
    • 5.3.5.3 South Africa
    • 5.3.5.4 Iran
    • 5.3.5.5 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Electricite de France SA (EDF)
    • 6.3.2 GE-Hitachi Nuclear Energy Inc.
    • 6.3.3 Westinghouse Electric Company LLC
    • 6.3.4 Duke Energy Corporation
    • 6.3.5 SKODA JS AS
    • 6.3.6 China National Nuclear Corporation
    • 6.3.7 Bilfinger SE
    • 6.3.8 BWX Technologies Inc.
    • 6.3.9 Doosan Enerbility Co. Ltd
    • 6.3.10 Mitsubishi Heavy Industries Ltd
    • 6.3.11 Bechtel Group Inc.
    • 6.3.12 Japan Atomic Power Company
    • 6.3.13 Rosatom State Atomic Energy Corporation
    • 6.3.14 KEPCO Engineering & Construction
  • *List Not Exhaustive
  • 6.4 Market Ranking/Share (%) Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Advanced Small Modular Reactors
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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
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Nuclear Power Market Research FAQs

How big is the Nuclear Power Market?

The Nuclear Power Market size is expected to reach 398.24 gigawatt in 2025 and grow at a CAGR of 2% to reach 439.69 gigawatt by 2030.

What is the current Nuclear Power Market size?

In 2025, the Nuclear Power Market size is expected to reach 398.24 gigawatt.

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.

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 (2025-2030).

Which region has the biggest share in Nuclear Power Market?

In 2025, the Europe accounts for the largest market share in Nuclear Power Market.

What years does this Nuclear Power Market cover, and what was the market size in 2024?

In 2024, the Nuclear Power Market size was estimated at 390.28 gigawatt. The report covers the Nuclear Power Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Nuclear Power Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Nuclear Power Market Research

Mordor Intelligence brings extensive expertise to the nuclear power industry and atomic energy sector. We deliver comprehensive analysis of the nuclear energy market. Our research thoroughly examines the evolving landscape of nuclear power generation and atomic power generation. It provides detailed insights into nuclear power companies and atomic energy companies. The report, available in an easy-to-read PDF format for download, covers crucial developments in the nuclear energy industry. It also evaluates emerging technologies in nuclear reactor services.

Our detailed analysis encompasses the entire spectrum of the nuclear power market. We focus particularly on nuclear power generation companies and their technological innovations. The report presents a thorough nuclear power industry analysis and projects the future outlook for nuclear energy. It helps stakeholders navigate industry challenges and opportunities. Stakeholders gain access to detailed assessments of nuclear power plant operations and comprehensive industrial nuclear power stations evaluations. Additionally, it offers strategic insights into the global nuclear power industry, enabling informed decision-making and strategic planning.