Nuclear Power Market

According to a research report "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" published by MarketsandMarkets, the nuclear power market is forecasted to reach USD 44.71 billion by 2029 from an estimated USD 38.84 billion in 2024, at a CAGR of 2.9%  during the forecast period (2024-2029).  

Browse 316 market data Tables and 68 Figures spread through 323 Pages and in-depth TOC on "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 "
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/nuclear-power-market-90078787.html

The major factors driving the market growth of the nuclear power market include various driving factors such as many governments view nuclear power as a strategic constituent of their energy policy, and provide subsidies, tax incentives, or direct investment to build up nuclear projects. For example, some countries like China, Russia, and France have long-term plans to expand their nuclear power capacity. In addition, governments also set regulatory frameworks that ensure the safe development of nuclear energy. Similarly, Volatile and rising prices of fossil fuels such as oil, gas, and coal also make nuclear energy even more appealing as a cost-competitive alternative. Since fuel is needed in only small amounts in nuclear plants, uranium price volatility does not significantly affect the general energy costs.

Power Generation by Application is expected to be the largest segment in the nuclear power market during the forecast period

Power generation application is expected to account largest market share during the forecast period.  Nuclear power plants produce enormous amounts of electricity uninterruptedly and thus are the choice option for increased energy production based on increasing urbanization, industrialization, and technological development. Their baseload capability to produce stability and reliability in power is essential, especially in emerging economies where electricity consumption keeps rising. Since the energy generation from wind and sun is intermittent, a high output by nuclear power ensures constant energy generation while reducing dependence on fossil fuel as energy needs expand more globally.

The large segment, by capacity, is expected to be the largest segment in the nuclear power market during the forecast period

Large reactors generate a lot of electricity, hence achieving economies of scale. Their high output helps to cover increasing energy demand in a much better way that brings the economies in the long term. The plants become favorites because they provide a constant and stable power supply for big industrial sectors and urban centers. Moreover, Large nuclear reactors create stable baseload power, hence stabilizing the grid, primarily because of the growing integration of renewables in countries. This helps ensure a stable, consistent supply of energy, and, as such, large reactors are capable of supplying a long power system demanding a constant generation of electricity.

Asia Pacific is expected to be the largest region in the nuclear power market during the forecast period

The Asia-Pacific region is a significant factor for the nuclear power market due to rapid industrialization, energy demand increase, and government initiatives under the goals of decarbonization. Among the countries, China, India, and South Korea have been leaders by investing massive amounts in developing new nuclear plants and advanced reactor technologies. China is dominant in terms of the ambitious energy strategy and large-scale reactor deployment. Furthermore, supportive policies and technological innovations foster growth. The region's push toward reducing greenhouse gas emissions, combined with factors such as urbanization and economic growth, promotes the adoption of nuclear power and makes the Asia-Pacific region the world's largest-growing nuclear energy market.

The report profiles key players such as The State Atomic Energy Corporation ROSATOM (Russia), EDF (France), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), AtkinsRéalis (Canada), Westinghouse Electric Company LLC. (US), Rolls-Royce plc (UK), NuScale Power, LLC. (US), China National Nuclear Corporation (China), Holtec International (US), ULTRA SAFE NUCLEAR (US), and Seaborg Technologies (Denmark) Among others.

Don’t miss out on business opportunities in Nuclear Power Industry. Speak to our analyst and gain crucial market insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103,
Delray Beach, FL 33445
USA : 1-888-600-6441
[email protected]