Global Nuclear Energy Market Size, Trends & Analysis - Forecasts to 2027 By Reaction Type (Nuclear Fission, Nuclear Fusion, and Nuclear Decay), By Reactor Type (Pressurized Water & Heavy Water Reactor, Boiling Water Reactor, High-temperature Gas Cooled Reactor, Liquid-metal Fast-Breeder Reactor, and Other Reactor Types), By Equipment Type (Island Equipment, Auxiliary Equipment, Island Equipment, and Auxiliary Equipment), By Application (Electricity Power Generation, Lifescience & Research, Food & Agriculture, Consumer Products, Industrial Applications, Space & Defense Research, and Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Company Market Share Analysis, and Competitor Analysis
The global nuclear energy market is projected to grow at a high CAGR value from 2022 to 2027. The nuclear energy market is largely driven by the growing demand for reducing dependence on non-renewable sources of energy like petroleum and coal. Technological advancements in nuclear energy, energy storage devices, and other advancements are expected to be major drivers of the market.
Since the development of nuclear energy in the 1940s and the launch of the first commercial nuclear power plant in 1950, the market has been growing tremendously. Nuclear energy has become the world’s second-largest source of low-carbon emission power source. Currently, over fifty countries utilize nuclear energy in over 200 reactors across these countries. Providing almost 10% of the world’s electricity, the nuclear energy market is expected to continue to thrive during the forecast period. The growing demand for reducing older fossil fuel-dependent units, especially coal-powered electricity generators is a major driver of this industry. The high carbon emission profile of coal-powered generators is expected to cause countries to turn to nuclear energy to meet their growing energy demands. The need to reduce air pollution, reduce environmental damage while meeting the world’s growing energy demands has led to various international agencies promoting the need for expansion of nuclear energy in many of their policy recommendations and scenarios. This growing focus on nuclear energy will undoubtedly increase the demand for nuclear energy during the forecast period. Increasing demand for energy self-sustainability among countries will also play a crucial role in the development of the market.
Technological advancements such as small modular reactors, and light water reactors, among others, are expected to further enhance the demand for nuclear energy. The investment into the research and development of novel nuclear energy reactors by countries across the globe is expected to further enhance the growth of the market. The development of new energy storage technologies that will allow for more efficient storage of energy is also expected to have a positive impact on the growth of the nuclear energy market. Increasing investment into space technologies and increasing adoption of nuclear energy for space exploration is another factor for the growth of the market.
The COVID-19 pandemic has resulted in supply chain restrictions and resulted in various manufacturing and energy shortage issues across the globe. The dependence of countries for energy on nuclear power plants saw nuclear power plants maintain operations. Falling energy consumption owing to shutdowns did reduce the demand for nuclear energy during the pandemic. The market is expected to bounce back as companies return to full operations.
The nuclear energy market is largely driven by the need to reduce carbon emission from energy generation, growing energy demand, increased focus on improving energy self-sustainability, increased investment in nuclear energy technology, and growing technological advancements in the industry.
Based on the type of reaction, the nuclear energy market is segmented into nuclear fission, nuclear fusion, and nuclear decay. The nuclear fission segment is expected to hold the largest piece of the market during the forecast period. The ease of generating electricity through nuclear fission, more suited to current technology, and greater control over the process have resulted in the dominance of the nuclear fission segment. The nuclear fusion reaction is expected to showcase better growth rates during the forecast period owing to increased investment in R&D of nuclear fusion reactors and technological advancements.
Based on the type of reactor, the nuclear energy market is segmented into pressurized water & heavy water reactor, boiling water reactor, high-temperature gas-cooled reactor, liquid-metal fast-breeder reactor, and other reactor types. Pressurized water and heavy water segment is expected to hold the largest piece of the market during the forecast period. These reactors are increasingly stable, lower chance of contamination, have greater control over the reaction, and greater technology maturity have led to the dominance of the pressurized water and heavy water segment.
Based on the type of equipment, the nuclear energy market is segmented into island equipment and auxiliary equipment. The auxiliary equipment segment is expected to hold the largest piece of the market during the forecast period. The need for auxiliary equipment in every nuclear power plant in the event of power failure has resulted in the dominance of the auxiliary equipment segment.
Based on the applications, the nuclear energy market is segmented into electricity power generation, lifescience & research, food & agriculture, consumer products, industrial applications, space & defense research, and others. The electricity power generation segment is expected to hold the largest piece of the market during the forecast period. The growing energy demands and increased demand for clean energy have led to the dominance of the electricity power generation segment.
Based on region, the market can be segmented into various regions such as North America, Europe, Central and South America, Middle East and North Africa, and Asia Pacific regions.
The U.S. accounted for a major share in the market space. Also, the European region is expected to be the dominant force in the market during the forecast period. The region’s strong environmental protection laws, increased adoption of nuclear energy in the region, and the increased investment in clean energy by governments in the region have contributed to the dominance of this region.
The APAC region is expected to become the fastest-growing region owing to the growing adoption of nuclear energy in the region. The growing population in the region has increased the demand for electricity in the region. The growing manufacturing industry in the region is also expected to contribute to the growth of the market in the region.
Alstom SA, Areva SA, Babcock and Wilcox, Bechtel Group Inc., Bilfinger SE, Bruce Power, BWX Technologies Inc., Cameco, CEZ Group, CGN Power, China National Nuclear Corporation, Dongfang Electric Corp. Ltd., Doosan Heavy Industries & Construction Co. Ltd, Duke Energy, E.ON SE, Electricite de France SA (EDF), Engie, ENI S.P.A., Exelon Corporation, Hitachi-GE Nuclear Energy Ltd., Japan Atomic Power Co., Kepco, Korea Hydro & Nuclear Energy, Larsen and Toubro Industries, Mitsubishi Heavy Industries Ltd., Nukem GmbH, NuScale Power, Rosatom Corp., Shanghai Electric, SKODA JS a.s., Southern Nuclear, STP Nuclear Operating Company, TerraPower, The Kansai Electric Power Company, and Westinghouse Electric Company LLC, among others, are the key players in the nuclear energy market.
Please note: This is not an exhaustive list of companies profiled in the report.
Chapter 1 Methodology
1.1 Market Scope & Definitions
1.2 Estimates & Forecast Calculation
1.3 Historical Data Overview and Validation
1.4 Data Sources
1.4.1 Secondary
1.4.2 Primary
Chapter 2 Report Outlook
2.1 Nuclear Energy Industry Overview, 2020-2026
2.1.1 Industry Overview
2.1.2 Reaction Type Overview
2.1.3 Reactor Type Overview
2.1.4 Equipment Type Overview
2.1.5 Application Overview
2.1.6 Regional Overview
Chapter 3 Nuclear Energy Market Trends
3.1 Market Segmentation
3.2 Industry Background, 2020-2026
3.3 Market Key Trends
3.3.1 Positive Trends
3.3.1.1 Advancements in the nuclear energy technology
3.3.1.2 Growing nuclear power plant projects in the APAC region
3.3.2 Industry Challenges
3.3.2.1 Lack of adequate infrastructure in developing nations
3.4 Prospective Growth Scenario
3.4.1 Reaction Type Growth Scenario
3.4.2 Reactor Type Growth Scenario
3.4.3 Equipment Type Growth Scenario
3.4.4 Application Growth Scenario
3.5 COVID-19 Influence over Industry Growth
3.6 Porter’s Analysis
3.7 PESTEL Analysis
3.8 Value Chain & Supply Chain Analysis
3.9 Regulatory Framework
3.9.1 North America
3.9.2 Europe
3.9.3 APAC
3.9.4 LATAM
3.9.5 MEA
3.10 End-User Overview
3.11 Market Share Analysis, 2020
3.11.1 Company Positioning Overview, 2020
Chapter 4 Nuclear Energy Market, By Reaction Type
4.1 Reaction Type Outlook
4.2 Nuclear Fission
4.2.1 Market Size, By Region, 2020-2026 (USD Billion)
4.3 Nuclear Fusion
4.3.1 Market Size, By Region, 2020-2026 (USD Billion)
4.4 Nuclear Decay
4.4.1 Market Size, By Region, 2020-2026 (USD Billion)
Chapter 5 Nuclear Energy Market, By Equipment Type
5.1 Equipment Type Outlook
5.2 Island Equipment
5.2.1 Market Size, By Region, 2020-2026 (USD Billion)
5.3 Auxiliary Equipment
5.3.1 Market Size, By Region, 2020-2026 (USD Billion)
Chapter 6 Nuclear Energy Market, By Reactor Type
6.1 Pressurized Water & Heavy Water Reactor
6.1.1 Market Size, By Region, 2020-2026 (USD Billion)
6.2 Boiling Water Reactor
6.2.1 Market Size, By Region, 2020-2026 (USD Billion)
6.3 High-temperature Gas Cooled Reactor
6.3.1 Market Size, By Region, 2020-2026 (USD Billion)
6.4 Liquid-metal Fast-Breeder Reactor
6.4.1 Market Size, By Region, 2020-2026 (USD Billion)
6.5 Other Reactor Types
6.5.1 Market Size, By Region, 2020-2026 (USD Billion)
Chapter 7 Nuclear Energy Market, By Application
7.1 Electricity Power Generation
7.1.1 Market Size, By Region, 2020-2026 (USD Billion)
7.2 Lifescience & Research
7.2.1 Market Size, By Region, 2020-2026 (USD Billion)
7.3 Food & Agriculture
7.3.1 Market Size, By Region, 2020-2026 (USD Billion)
7.4 Consumer Products
7.4.1 Market Size, By Region, 2020-2026 (USD Billion)
7.5 Industrial Applications
7.5.1 Market Size, By Region, 2020-2026 (USD Billion)
7.6 Space & Defense Research
7.6.1 Market Size, By Region, 2020-2026 (USD Billion)
7.7 Others
7.7.1 Market Size, By Region, 2020-2026 (USD Billion)
Chapter 8 Nuclear Energy Market, By Region
8.1 Regional outlook
8.2 North America
8.2.1 Market Size, By Country 2020-2026 (USD Billion)
8.2.2 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.2.3 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.2.4 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.2.5 Market Size, By Application, 2020-2026 (USD Billion)
8.2.6 U.S.
8.2.6.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.2.4.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.2.4.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
Market Size, By Application, 2020-2026 (USD Billion)
8.2.7 Canada
8.2.7.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.2.7.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.2.7.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.2.7.4 Market Size, By Application, 2020-2026 (USD Billion)
8.3 Europe
8.3.1 Market Size, By Country 2020-2026 (USD Billion)
8.3.2 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.3.3 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.3.4 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.3.5 Market Size, By Application, 2020-2026 (USD Billion)
8.3.6 Germany
8.3.6.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.3.6.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.3.6.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.3.6.4 Market Size, By Application, 2020-2026 (USD Billion)
8.3.7 UK
8.3.7.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.3.7.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.3.7.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.3.7.4 Market Size, By Application, 2020-2026 (USD Billion)
8.3.8 France
8.3.8.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.3.8.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.3.8.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.3.8.4 Market Size, By Application, 2020-2026 (USD Billion)
8.3.9 Italy
8.3.9.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.3.9.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.3.9.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.3.9.4 Market Size, By Application, 2020-2026 (USD Billion)
8.3.10 Spain
8.3.10.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.3.10.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.3.10.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.3.10.4 Market Size, By Application, 2020-2026 (USD Billion)
8.3.11 Russia
8.3.11.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.3.11.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.3.11.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.3.11.4 Market Size, By Application, 2020-2026 (USD Billion)
8.4 Asia Pacific
8.4.1 Market Size, By Country 2020-2026 (USD Billion)
8.4.2 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.4.3 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.4.4 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.4.5 Market Size, By Application, 2020-2026 (USD Billion)
8.4.6 China
8.4.6.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.4.6.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.4.6.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.4.6.4 Market Size, By Application, 2020-2026 (USD Billion)
8.4.7 India
8.4.7.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.4.7.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.4.7.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.4.7.4 Market Size, By Application, 2020-2026 (USD Billion)
8.4.8 Japan
8.4.8.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.4.8.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.4.8.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.4.8.4 Market Size, By Application, 2020-2026 (USD Billion)
8.4.9 Australia
8.4.9.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.4.9.2 Market size, By Reactor Type, 2020-2026 (USD Billion)
8.4.9.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.4.9.4 Market Size, By Application, 2020-2026 (USD Billion)
8.4.10 South Korea
8.4.10.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.4.10.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.4.10.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.4.10.4 Market Size, By Application, 2020-2026 (USD Billion)
8.5 Latin America
8.5.1 Market Size, By Country 2020-2026 (USD Billion)
8.5.2 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.5.3 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.5.4 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.5.5 Market Size, By Application, 2020-2026 (USD Billion)
8.5.6 Brazil
8.5.6.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.5.6.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.5.6.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.5.6.4 Market Size, By Application, 2020-2026 (USD Billion)
8.5.7 Mexico
8.5.7.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.5.7.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.5.7.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.5.7.4 Market Size, By Application, 2020-2026 (USD Billion)
8.5.8 Argentina
8.5.8.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.5.8.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.5.8.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.5.8.4 Market Size, By Application, 2020-2026 (USD Billion)
8.6 MEA
8.6.1 Market Size, By Country 2020-2026 (USD Billion)
8.6.2 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.6.3 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.6.4 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.6.5 Market Size, By Application, 2020-2026 (USD Billion)
8.6.6 Saudi Arabia
8.6.6.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.6.6.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.6.6.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.6.6.4 Market Size, By Application, 2020-2026 (USD Billion)
8.6.7 UAE
8.6.7.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.6.7.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.6.7.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.6.7.4 Market Size, By Application, 2020-2026 (USD Billion)
8.6.8 South Africa
8.6.8.1 Market Size, By Reaction Type, 2020-2026 (USD Billion)
8.6.8.2 Market Size, By Reactor Type, 2020-2026 (USD Billion)
8.6.8.3 Market Size, By Equipment Type, 2020-2026 (USD Billion)
8.6.8.4 Market Size, By Application, 2020-2026 (USD Billion)
Chapter 9 Company Landscape
9.1 Competitive Analysis, 2020
9.2 Alstom SA
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Strategic Positioning
9.2.4 Info Graphic Analysis
9.3 Areva SA
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Strategic Positioning
9.3.4 Info Graphic Analysis
9.4 Babcock and Wilcox
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Strategic Positioning
9.4.4 Info Graphic Analysis
9.5 Bechtel Group Inc.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Strategic Positioning
9.5.4 Info Graphic Analysis
9.6 Bilfinger SE
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Strategic Positioning
9.6.4 Info Graphic Analysis
9.7 Bruce Power
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Strategic Positioning
9.7.4 Info Graphic Analysis
9.8 BWX Technologies Inc.
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Strategic Positioning
9.8.4 Info Graphic Analysis
9.9 Cameco
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Strategic Positioning
9.9.4 Info Graphic Analysis
9.10 CEZ Group
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Strategic Positioning
9.10.4 Info Graphic Analysis
9.11 Other Companies
9.11.1 Company Overview
9.11.2 Financial Analysis
9.11.3 Strategic Positioning
9.11.4 Info Graphic Analysis
The Global Nuclear Energy Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Nuclear Energy Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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