Floating Nuclear Power Plant Market Report 2026

The floating nuclear power plant market size has grown rapidly in recent years. It will grow from $3.48 billion in 2025 to $4.06 billion in 2026 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to increasing demand for power in remote regions, early deployment of marine nuclear reactors, expansion of offshore industrial activities, government-backed nuclear research programs, limitations of land-based power infrastructure.

The floating nuclear power plant market size is expected to see rapid growth in the next few years. It will grow to $7.4 billion in 2030 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to expansion of low-carbon baseload power demand, increasing investments in small modular reactor technology, growing focus on energy security for coastal regions, advancements in marine nuclear engineering, rising use in disaster-resilient power systems. Major trends in the forecast period include increasing development of small modular floating reactors, rising interest in remote and offshore power solutions, growing integration of advanced safety and monitoring systems, expansion of nuclear-based desalination applications, enhanced focus on mobile power infrastructure.

The increasing demand for clean power sources is expected to drive the growth of the floating nuclear power plant market in the coming years. Clean power sources refer to energy systems that produce minimal emissions while providing a consistent and uninterrupted supply of electricity. The rise in clean power sources is driven by growing awareness of environmental sustainability, as they help reduce greenhouse gas emissions and combat climate change. Floating nuclear power plants support clean and reliable power generation by producing high-output electricity with zero local emissions, delivering consistent energy to remote or coastal areas where conventional power infrastructure is limited. For example, in June 2024, the International Energy Agency, a France-based intergovernmental organization, reported that worldwide investment in clean energy reached $80 billion in 2024, up from $67 billion in 2023. Therefore, the increasing demand for clean power sources is fueling the growth of the floating nuclear power plant market.

Key companies in the floating nuclear power plant market are focusing on developing technologically advanced solutions, such as fission technologies, to enhance efficiency, safety, and sustainability. Fission technologies refer to nuclear processes and systems that generate energy by splitting the nucleus of heavy atoms, such as uranium or thorium, releasing large amounts of heat that can be converted into electricity. For instance, in February 2025, Core Power (UK) Ltd., a UK-based advanced nuclear maritime technology company, launched the US-anchored maritime civil nuclear program called Liberty, aimed at mass-producing floating nuclear power plants (FNPPs) by the mid-2030s using advanced fission technologies and modular shipyard construction methods. The program is a collaborative industry effort to create an export-controlled technology regime, ensuring that intellectual property and advancements in maritime nuclear energy and its global fuel supply remain under the stewardship of the U.S. and its allies. It focuses on developing and deploying marine molten salt reactors (m-MSRs) to provide a clean, reliable power source for a new generation of commercial ships.

In November 2024, Westinghouse Electric Company, a US-based nuclear energy company, partnered with Core Power (UK) Ltd. to develop a floating nuclear power plant. This partnership aims to advance clean, reliable, and scalable offshore energy solutions by integrating advanced nuclear technologies for marine and coastal power generation. Core Power (UK) Ltd. is a UK-based maritime and advanced nuclear technology company specializing in the development of floating nuclear power plant solutions.

Major companies operating in the floating nuclear power plant market are Rosatom State Atomic Energy Corporation, China National Nuclear Corporation, Korea Electric Power Corporation KEPCO, Samsung Heavy Industries Co Ltd, Westinghouse Electric Company LLC, NuScale Power LLC, Rolls‑Royce SMR (Rolls‑Royce Small Modular Reactors), General Electric Hitachi Nuclear Energy, Toshiba Energy Systems & Solutions Corporation, Areva Orano, Holtec International, BWX Technologies Inc, X‑Energy LLC, Terrestrial Energy Inc, Seaborg Technologies.

North America was the largest region in the floating nuclear power plant market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the floating nuclear power plant market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the floating nuclear power plant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The floating nuclear power plant market consists of sales of floating reactor modules, marine containment vessels, onboard turbine generators, heat exchangers, and nuclear fuel handling systems. 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 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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