Nuclear Power Market Size, Share, Growth, Trends 2023-2030

Description
Segmentation & Scope

This study intends to unfurl the multiple facets of global nuclear power market and thereby examine how the short-term growth of the market will unfold during the stipulated time span.

Rising Energy Demand and Inclination towards Clean Energy to Bolster Growth of Nuclear Power Market

Since past several years, the demand for energy has been on its peak across the globe owing to rising industrialization and increasing electricity usage. Various companies in developed and developing nations worldwide have been focusing on adopting clean and efficient ways to meet the growing demand for energy. For instance, in October 2021, Abu Dhabi National Oil Co (ADNOC) announced its plan to utilize solar and nuclear energy to power its operations. To achieve this, a supply contract was signed between ADNOC and Emirates Water and Electricity Co. for the supply of clean energy. With this contract, ADNOC will be able to utilize 100% of the solar and nuclear energy to meet its power and energy requirements. In addition, governing bodies have been giving targets to promote utilization of nuclear power. For instance, as per the target set by the World Nuclear Association (WNA), by 2050, around 25% of the electricity worldwide is to be sourced from nuclear power. To meet this target, a requirement of about 1000 GW of additional nuclear capacity needs to be established, which can provide ample opportunities for key players in global nuclear power market.

Advent of Technology in Nuclear Reactors to Offer Potential Opportunities to Nuclear Power Market

On the back of growing concerns regarding environment health, government authorities are putting efforts to reduce greenhouse gas emissions. This has positioned nuclear power as a key to sustainable and clean energy source which has resulted in technological advancements in this space. For instance, in October 2021, the Government of UK announced the development of a new technology referred to as small modular reactors (SMRs) for its new plant. This technology provides maximum cost savings over conventional large reactors. That said, technological advances in the nuclear reactor space are likely to give an impetus to the growth of the nuclear power market.

Pressurized Water Reactors to Witness High Adoption in Worldwide Nuclear Power Market

Pressurized water reactors have been the most preferred since past several years and the scenario is expected to further increase going forward. Growth in adoption of pressurized water reactors (PWR) is mainly owing to rising investments in this space owing to their operational benefits coupled with increasing number of projects. Pressurized water reactors have higher stability even at very high temperatures which makes these reactors easy to operate. The main factor being high stability at extreme conditions, the use of pressurized water reactors has been on an upswing. For instance, according to the International Atomic Energy Agency (IAEA) 2021 report, there are around 442 operational nuclear reactors worldwide, of which 302 reactors are pressurized water reactors with a capacity of about 287 GWe. The United States itself has 63 pressurized water reactors followed by France and China who have 56 and 47 PWRs respectively. In this backdrop, the pressurized water reactor is expected to account for a significant value share in the nuclear power market and is likely to lead over other reactor types in the coming years.

Asia Pacific Likely to Account for a Significant Revenue Share in Nuclear Power Market

As compared to developed nations in Europe and North America, various Asian countries have been focusing on building nuclear power plants to fulfil the rising clean energy demand. China is likely to dominate the Asia Pacific nuclear power market. This can be attributed towards development of strong project pipeline backed by favourable government approvals for establishing nuclear reactors. According to the International Atomic Energy Agency (IAEA), China has 50 operating nuclear reactors with capacity of 47.52 GW. In addition, the Government of China aims to reach 150 GW of nuclear capacity by end of 2030. Nuclear sector in China is poised to expand at a significant rate owing to the country’s vision to achieve decarbonization while amassing nuclear expertise.

India on the other hand is dedicated towards expanding its nuclear power capacity for its infrastructure development program. As per the Indian Government, the country is set to achieve 22.5 GW nuclear power capacity by end of 2031. Also, the Government of India aims to use nuclear energy to provide 23% of electricity by end of 2050, a 2.5% up as compared to the current statistic. These factors are expected to bolster growth of the nuclear power market in Asia Pacific and companies can expect an optimistic scenario in the forthcoming years.

Nuclear Power Market: Competitive Landscape

Key players in global nuclear power market have been investing in technological developments and entering strategic collaborations and alliances. For instance, in February 2022, CNNC (China National Nuclear Corp) signed contract with Argentine Government to develop the US$ 8 billion Atucha 3 nuclear power plant by adopting the Hualong One Technology of China. Atucha 3 is expected to have gross power of about 1200 MW with a useful service life of around 60 years. This contract is likely to expand the nuclear capacity of the country in the coming years. Same year in August, Rosatom awarded a new contract to TSM Enerji for the remaining construction of its Akkuyu Nuclear power plant in Turkey. This new project, after completion, is expected to generate around 35 billion kWh each year which can meet about 10% of the electricity demands of Turkey.

A few of the major players in nuclear power market include General Electric, Areva, Alstom, BWX Technologies Inc., Shanghai Electric, The State Atomic Energy Corporation, Toshiba Corporation, Dongfang Electric Corp. Ltd., Korea Electric Power Corporation, GE - Hitachi Nuclear Energy, SKODA JS AS, KEPCO Engineering & Construction, Westinghouse Electric Company LLC, Mitsubishi Heavy Industries Ltd., Larsen & Toubro Limited, China National Nuclear Corporation, and Doosan Corporation.

Regional Classification of the Global Nuclear Power Market is Described Below:

North America

U.S.
Canada

Europe

Germany
France
Spain
U.K.
Italy
Russia
Rest of Europe

Asia Pacific

China
Japan
India
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East and Africa

GCC
South Africa
Rest of Middle East and Africa

1. Executive Summary
1.1. Global Nuclear Power Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations

2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
  2.2.1.2. Driver B
  2.2.1.3. Driver C
  2.2.2. Restraints
  2.2.2.1. Restraint 1
  2.2.2.2. Restraint 2
  2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
  2.5.1. Pre-Covid and Post-Covid Scenario
  2.5.2. Supply Impact
  2.5.3. Demand Impact
2.6. Government Regulations
2.7. Global Energy Mix, 2022 - Overview
2.8. Technology Landscape
2.9. Economic Analysis
2.10. PESTLE

3. Installed Capacity, 2018 - 2022
3.1. Regional Production Statistics
  3.1.1. North America
  3.1.2. Europe
  3.1.3. Asia Pacific
  3.1.4. Latin America
  3.1.5. Middle East & Africa
3.2. New Installations, 2023 - 2030, by Region

4. Price Trends Analysis and Future Projects, 2018 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Region

5. Global Nuclear Power Market Outlook, 2018 - 2030
5.1. Global Nuclear Power Market Outlook, by Reactor Type, Installed Capacity (GW(e)), 2018 - 2030
  5.1.1. Key Highlights
  5.1.1.1. Pressurized Water Reactor (PWR)
  5.1.1.2. Boiling Water Reactor (BWR)
  5.1.1.3. Pressurized Heavy-water Reactor (PHWR)
  5.1.1.4. Light Water Graphite Reactor (LWGR)
  5.1.1.5. Misc. (GCR, FNR, HTGR, etc.)
5.2. Global Nuclear Power Market Outlook, by Application, Installed Capacity (GW(e)), 2018 - 2030
  5.2.1. Key Highlights
  5.2.1.1. Electricity
  5.2.1.2. Space & Defence
  5.2.1.3. Misc.
  5.2.2. BPS/Market Attractiveness Analysis
5.3. Global Nuclear Power Market Outlook, by Region, Installed Capacity (GW(e)), 2018 - 2030
  5.3.1. Key Highlights
  5.3.1.1. North America
  5.3.1.2. Europe
  5.3.1.3. Asia Pacific
  5.3.1.4. Latin America
  5.3.1.5. Middle East & Africa
  5.3.2. BPS/Market Attractiveness Analysis

6. North America Nuclear Power Market Outlook, 2018 - 2030
6.1. North America Nuclear Power Market Outlook, by Reactor Type, Installed Capacity (GW(e)), 2018 - 2030
  6.1.1. Key Highlights
  6.1.1.1. Pressurized Water Reactor (PWR)
  6.1.1.2. Boiling Water Reactor (BWR)
  6.1.1.3. Pressurized Heavy-water Reactor (PHWR)
  6.1.1.4. Light Water Graphite Reactor (LWGR)
  6.1.1.5. Misc. (GCR, FNR, HTGR, etc.)
6.2. North America Nuclear Power Market Outlook, by Application, Installed Capacity (GW(e)), 2018 - 2030
  6.2.1. Key Highlights
  6.2.1.1. Electricity
  6.2.1.2. Space & Defence
  6.2.1.3. Misc.
6.3. North America Nuclear Power Market Outlook, by Country, Installed Capacity (GW(e)), 2018 - 2030
  6.3.1. Key Highlights
  6.3.1.1. U.S.
  6.3.1.2. Canada
  6.3.2. BPS/Market Attractiveness Analysis

7. Europe Nuclear Power Market Outlook, 2018 - 2030
7.1. Europe Nuclear Power Market Outlook, by Reactor Type, Installed Capacity (GW(e)), 2018 - 2030
  7.1.1. Key Highlights
  7.1.1.1. Pressurized Water Reactor (PWR)
  7.1.1.2. Boiling Water Reactor (BWR)
  7.1.1.3. Pressurized Heavy-water Reactor (PHWR)
  7.1.1.4. Light Water Graphite Reactor (LWGR)
  7.1.1.5. Misc. (GCR, FNR, HTGR, etc.)
7.2. Europe Nuclear Power Market Outlook, by Application, Installed Capacity (GW(e)), 2018 - 2030
  7.2.1. Key Highlights
  7.2.1.1. Electricity
  7.2.1.2. Space & Defence
  7.2.1.3. Misc.
7.3. Europe Nuclear Power Market Outlook, by Country, Installed Capacity (GW(e)), 2018 - 2030
  7.3.1. Key Highlights
  7.3.1.1. Germany
  7.3.1.2. France
  7.3.1.3. U.K.
  7.3.1.4. Italy
  7.3.1.5. Spain
  7.3.1.6. Russia
  7.3.1.7. Rest of Europe
  7.3.2. BPS/Market Attractiveness Analysis

8. Asia Pacific Nuclear Power Market Outlook, 2018 - 2030
8.1. Asia Pacific Nuclear Power Market Outlook, by Reactor Type, Installed Capacity (GW(e)), 2018-2030
  8.1.1. Key Highlights
  8.1.1.1. Pressurized Water Reactor (PWR)
  8.1.1.2. Boiling Water Reactor (BWR)
  8.1.1.3. Pressurized Heavy-water Reactor (PHWR)
  8.1.1.4. Light Water Graphite Reactor (LWGR)
  8.1.1.5. Misc. (GCR, FNR, HTGR, etc.)
8.2. Asia Pacific Nuclear Power Market Outlook, by Application, Installed Capacity (GW(e)), 2018 - 2030
  8.2.1. Key Highlights
  8.2.1.1. Electricity
  8.2.1.2. Space & Defence
  8.2.1.3. Misc.
8.3. Asia Pacific Nuclear Power Market Outlook, by Country, Installed Capacity (GW(e)), 2018 - 2030
8.3.1. Key Highlights
  8.3.1.1. China
  8.3.1.2. Japan
  8.3.1.3. South Korea
  8.3.1.4. India
  8.3.1.5. Southeast Asia
  8.3.1.6. Rest of Asia Pacific
  8.3.2. BPS/Market Attractiveness Analysis

9. Latin America Nuclear Power Market Outlook, 2018 - 2030
9.1. Latin America Nuclear Power Market Outlook, by Reactor Type, Installed Capacity (GW(e)), 2018 - 2030
  9.1.1. Key Highlights
  9.1.1.1. Pressurized Water Reactor (PWR)
  9.1.1.2. Boiling Water Reactor (BWR)
  9.1.1.3. Pressurized Heavy-water Reactor (PHWR)
  9.1.1.4. Light Water Graphite Reactor (LWGR)
  9.1.1.5. Misc. (GCR, FNR, HTGR, etc.)
9.2. Latin America Nuclear Power Market Outlook, by Application, Installed Capacity (GW(e)), 2018-2030
  9.2.1. Key Highlights
  9.2.1.1. Electricity
  9.2.1.2. Space & Defence
  9.2.1.3. Misc.
9.3. Latin America Nuclear Power Market Outlook, by Country, Installed Capacity (GW(e)), 2018 - 2030
  9.3.1. Key Highlights
  9.3.1.1. Brazil
  9.3.1.2. Mexico
  9.3.1.3. Rest of Latin America
  9.3.2. BPS/Market Attractiveness Analysis

10. Middle East & Africa Nuclear Power Market Outlook, 2018 - 2030
10.1. Middle East & Africa Nuclear Power Market Outlook, by Reactor Type, Installed Capacity (GW(e)), 2018 - 2030
  10.1.1. Key Highlights
  10.1.1.1. Pressurized Water Reactor (PWR)
  10.1.1.2. Boiling Water Reactor (BWR)
  10.1.1.3. Pressurized Heavy-water Reactor (PHWR)
  10.1.1.4. Light Water Graphite Reactor (LWGR)
  10.1.1.5. Misc. (GCR, FNR, HTGR, etc.)
10.2. Middle East & Africa Nuclear Power Market Outlook, by Application, Installed Capacity (GW(e)), 2018 - 2030
  10.2.1. Key Highlights
  10.2.1.1. Electricity
  10.2.1.2. Space & Defence
  10.2.1.3. Misc.
10.3. Middle East & Africa Nuclear Power Market Outlook, by Country, Installed Capacity (GW(e)), 2018 - 2030
  10.3.1. Key Highlights
  10.3.1.1. GCC
  10.3.1.2. South Africa
  10.3.1.3. Rest of Middle East & Africa
  10.3.2. BPS/Market Attractiveness Analysis

11. Competitive Landscape
11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Company Profiles
  11.3.1. China General Nuclear Power Group
  11.3.1.1. Company Overview
  11.3.1.2. Product Portfolio
  11.3.1.3. Financial Overview
  11.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
  11.3.2. Électricité de France S.A
  11.3.3. The China National Nuclear Corporation
  11.3.4. Constellation Energy Corporation
  11.3.5. Rosatom State Nuclear Energy Corporation
  11.3.6. Areva
  11.3.7. Korea Electric Power Corp
  11.3.8. Ontario Power Generation Inc.
  11.3.9. Centrus Energy Corp.
  11.3.10. NNEGC Energoatom
  11.3.11. The Iberdrola Group

12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations

Nuclear Power Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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