Nuclear Power Plant Market Report 2025

The nuclear power plant market size has grown steadily in recent years. It will grow from $32.46 billion in 2024 to $33.53 billion in 2025 at a compound annual growth rate (CAGR) of 3.3%. The growth during the historic period can be attributed to concerns over energy security, government subsidies, increasing electricity demand, geopolitical efforts to diversify energy sources, and low operating costs.

The nuclear power plant market size is expected to see steady growth in the next few years. It will grow to $37.73 billion in 2029 at a compound annual growth rate (CAGR) of 3%. The growth in the forecast period can be attributed to decarbonization goals, investments aimed at grid stability, the aging of fossil fuel infrastructure, rising public-private partnerships, and the extension of existing reactors. Major trends during this period include technological innovations in reactor design, the development and increased deployment of small modular reactors (SMRs), integration with renewable energy sources, and the digitalization of nuclear operations.

The growing demand for electricity is anticipated to drive the expansion of the nuclear power plant market in the future. Electricity, which is the flow of electric charge typically through conductors like wires, serves as an energy source to power devices, machinery, and systems. This demand is rising due to rapid urbanization, as expanding urban areas require increased power to support residential, commercial, and industrial activities. Nuclear power plants meet this rising electricity demand by providing a stable, large-scale source of low-carbon energy, ensuring a reliable supply for growing populations and industries. They strengthen energy infrastructure by delivering consistent power output, efficiently and sustainably addressing increasing consumption requirements. For example, in May 2025, the International Energy Agency, a France-based intergovernmental organization, reported that total net electricity generation in the Organization for Economic Co-operation and Development (OECD) reached 904.8 terawatt-hours (TWh) in February 2025, marking a 4% increase compared to February 2024. Consequently, the increasing electricity demand is propelling the growth of the nuclear power plant market.

Leading companies in the nuclear power plant market are focusing on developing advanced reactor technologies, such as single-loop pressurized water reactors, to improve safety, enhance efficiency, and reduce construction costs. A single-loop pressurized water reactor (PWR) is a nuclear reactor design where the reactor coolant circulates through a single closed loop, transferring heat from the reactor core to the steam generator. For instance, in May 2023, Westinghouse Electric Company LLC, a US-based nuclear power firm, introduced the AP300 small modular reactor (SMR), a 300-MWe single-loop pressurized water reactor. Building on the proven technology of the AP1000 reactor, the AP300 features a compact footprint, passive safety systems that require no operator intervention or backup power, and an expected operational life exceeding 80 years. It provides reliable, safe, and clean electricity, along with additional applications such as district heating and water desalination. Its fast load-following capability makes it well-suited for integration with renewable energy sources.

In November 2023, Cameco Corporation, a Canada-based uranium mining and nuclear fuel production company, along with Brookfield Corporation, a Canadian investment management firm, acquired Westinghouse Electric Company for $8.2 billion. Through this acquisition, Cameco aims to foster strategic growth by combining its fuel expertise with Brookfield’s strengths in clean energy, thereby strengthening Westinghouse’s position in delivering secure, emissions-free nuclear energy. Westinghouse Electric Company is a US-based nuclear technology firm specializing in the design, construction, and maintenance of nuclear power plants.

Major players in the nuclear power plant market are Siemens Energy AG, General Electric Company, Korea Electric Power Corporation, Mitsubishi Heavy Industries Ltd., Duke Energy Corporation, Électricité de France S.A., Exelon Corporation, Rolls-Royce Holdings plc, Bechtel Corporation, China National Nuclear Corporation, Framatome S.A.S., Toshiba Corporation, Hitachi-GE Nuclear Energy Ltd., BWXT Nuclear Energy Inc., The Babcock & Wilcox Company, TerraPower LLC, X Energy LLC, Doosan Enerbility Co. Ltd., NuScale Power Corporation, Rosatom, and Larsen & Toubro Limited.

Asia-Pacific was the largest region in the nuclear power plant market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in nuclear power plant report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the nuclear power plant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

A nuclear power plant is a facility that produces electricity by harnessing nuclear reactions, usually through nuclear fission, to generate heat. This heat is then used to convert water into steam, which drives turbines connected to generators to create electrical power. The primary purpose of a nuclear power plant is to supply a dependable and large-scale source of low-carbon electricity for industrial, commercial, and residential needs.

The primary types of nuclear reactors employed in power plants include pressurized water reactors (PWR), boiling water reactors (BWR), pressurized heavy water reactors (PHWR), gas-cooled reactors (GCR), and others. A pressurized water reactor (PWR) functions by using high-pressure water as both a coolant and a neutron moderator, enabling heat transfer without boiling the water. Key components include the reactor core, steam generator, control rods, among others, and incorporate various technologies such as conventional nuclear technology, advanced nuclear technology, generation IV reactors, small modular reactor technology, and research and development in next-generation reactors. These reactors serve a variety of applications, including electricity generation, desalination, research reactors, and more, catering to end-user industries like electric power generation, industrial manufacturing, desalination plants, research facilities, and healthcare and medical sectors.

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

The nuclear power plant market consists of revenues earned by entities by providing services such as reactor design and engineering, plant construction, fuel supply, maintenance and upgrades, decommissioning, and safety system integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The nuclear power plant market also includes sales of steam turbines, cooling systems, instrumentation and control systems, fuel assemblies, containment structures, auxiliary systems, nuclear reactors, and reactor components. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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 and 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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