Nuclear Power Market, By 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), By Application (Energy , Defence, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Feb 2025

Code : CMI5063

Pages :135

Formats :

Excel and PDF

Industry : Energy

Nuclear Power Market Size and Trends

The global nuclear power market is estimated to be valued at USD 36.72 Bn in 2025 and is expected to reach USD 48.68 Bn by 2032, growing at a compound annual growth rate (CAGR) of 4.1% from 2025 to 2032.

Nuclear Power Market Key Factors

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Nuclear power is experiencing a resurgence of interest globally as it is seen as a low carbon source of baseload electricity generation. After a slowdown in the last decade due to stringent regulations following the Fukushima disaster, the nuclear power industry has started gaining momentum again. Countries around the world are investing in new nuclear reactors as they aim to reduce dependence on fossil fuels and meet their commitment towards reduced carbon emissions under the Paris Agreement. However, high capital costs and construction delays continue to remain as challenges for widespread expansion of nuclear power globally.

Growing Energy Demands

The world's demand for energy is continually increasing as populations increase and economies develop further. According to the International Energy Agency, the global energy demand is projected to grow over 25% between 2018 and 2040. Much of this increased demand will come from developing nations in Asia Pacific and Africa where living standards and energy consumption are rising rapidly. Nuclear power can play a vital role in meeting this escalating demand for clean, low-carbon energy by providing abundant baseload power. A single nuclear power plant can power over 1 million homes and displace enormous amounts of carbon emissions from fossil fuel power sources. As countries develop advanced nuclear technologies like small modular reactors, they will provide lower-cost options to satisfy electricity needs. Nuclear energy offers a densely efficient way to generate massive amounts of power without depending on unpredictable renewable sources. Maintaining global energy security will depend on developing diverse sources like nuclear that can reliably power economies around the clock.