Nuclear Electricity Market Report 2025

This Nuclear Electricity market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

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.

The nuclear power generation market in the forecast period is anticipated to be significantly driven by the increasing demand for electricity. This can be attributed to the growth of economies and the rise in populations, particularly in developing countries like China, India, Brazil, and certain African nations. For instance, in March 2023, India witnessed an 8% surge in power demand during 2022, which was nearly double the growth rate of the Asia Pacific region, resulting in a total of over 149.7 terawatt-hours of power consumption. The first two months of 2023 saw a 10% increase in demand compared to the previous year. In recent years, the industrial and commercial sectors have accounted for over 50% of India's annual power consumption, with households representing a quarter and agriculture covering more than one-sixth. Therefore, the increasing need for electricity is expected to continue driving the growth of the nuclear electricity market.

The growing adoption of microgrids is anticipated to drive the growth of the nuclear electricity market in the coming years. A microgrid is a localized energy system that can operate independently or in conjunction with the main power grid. Microgrids are instrumental in integrating and optimizing AI technology within the energy sector, facilitating intelligent energy management, grid optimization, and the seamless incorporation of renewable energy sources. They contribute to demand response, load balancing, and the efficient integration of renewable energy into the grid. For example, in September 2024, a report by the UK Department of Energy Security & Net Zero highlighted a 21% increase in net imports from Q2 2023, reaching 9.2 TWh and accounting for 13% of the UK's electricity demand in Q2 2024. As microgrid use expands, it is expected to bolster the nuclear electricity market's growth.

To maintain a competitive edge in the market, major companies operating in the nuclear electricity sector are making strategic investments in nuclear innovation companies such as TerraPower, known for its flagship technology called Natrium. Natrium combines a sodium fast reactor with an economically competitive energy storage system based on molten salt. For example, in November 2022, ArcelorMittal, a Luxembourg-based leading steel and mining company, invested $25 million in TerraPower, a US-based nuclear reactor design and development engineering company specializing in breakthrough nuclear power innovation. TerraPower's technology, Natrium, combines a cost-effective sodium fast reactor with a molten salt energy storage system, offering clean and adaptable energy solutions that seamlessly integrate with grids rich in renewable sources.

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.

Asia-Pacific was the largest region in the nuclear electricity market in 2024. 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. The countries covered in the nuclear electricity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Nuclear electricity generation involves a clean and efficient process in which water is heated to produce steam, subsequently driving turbines to generate electricity. The heat generated within the nuclear power reactor core due to nuclear fission is utilized to vaporize water, transforming it into steam, which in turn powers the blades of a steam turbine. As these turbine blades rotate, they operate generators responsible for producing electrical energy.

The primary types of nuclear reactors utilized in power generation encompass pressurized water reactors (PWR), fast breeder reactors (FBR), pressurized heavy-water reactors (PHWR), boiling water reactors (BWR), light water graphite reactors (LWGR), and gas-cooled reactors (GCR). Pressurized water reactors (PWR) not only produce energy but are also employed in the propulsion of nuclear submarines and navy vessels. Different reactor technologies, categorized as generation I, generation II, generation III, and generation IV, are utilized across various sectors, including residential, commercial, and industrial applications.

The nuclear electricity market research report is one of a series of new reports that provides nuclear electricity market statistics, including nuclear electricity industry global market size, regional shares, competitors with a nuclear electricity market share, detailed nuclear electricity market segments, market trends and opportunities, and any further data you may need to thrive in the nuclear electricity industry. This nuclear electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The nuclear electricity market includes revenues earned by entities by pressurized water reactors (PWR), boiling water reactors (BWR), advanced gas-cooled reactors (AGR), light water graphite-moderated reactors (LWGR), fast neutron reactors (FNR), and operable nuclear power plants. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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