Comprehensive Report on the Nuclear Power Plant Market: Opportunities and Challenges

 Crafted for informed planning, this report explores the forces reshaping the nuclear power plant market and what they mean for business leaders.

What Is The Projected Market Size & Growth Rate Of The Nuclear Power Plant Market?
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 in the historic period can be attributed to energy security concerns, government subsidies, rising electricity demand, geopolitical energy diversification, 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 3.0%. The growth in the forecast period can be attributed to decarbonization targets, investments in grid stability, aging fossil fuel infrastructure, increasing public-private partnerships, and extension of existing reactors. Major trends in the forecast period include technological advancements in reactor design, development of small modular reactors (SMRs), growth of small modular reactor (SMR) deployments, integration with renewable energy sources, and digitalization of nuclear operations.

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What Is The Crucial Factor Driving The Global Nuclear Power Plant Market?
The increasing electricity demand is expected to propel the growth of the nuclear power plant market going forward. Electricity refers to the flow of electric charge, typically through conductors such as wires, and is a form of energy used to power devices, machines, and systems. The demand for electricity is increasing due to rapid urbanization, as expanding cities require more power to support residential, commercial, and industrial activities. Nuclear power plants support rising electricity demand by providing a stable and large-scale source of low-carbon energy, ensuring a reliable supply for growing populations and industries. They enhance energy infrastructure by delivering consistent power output, helping to meet increasing consumption needs efficiently and sustainably. For instance, in May 2025, according to the International Energy Agency, a France-based intergovernmental organization, total net electricity generation in the Organization for Economic Co-operation and Development (OECD) reached 904.8 terawatt-hours (TWh) in February 2025, an increase of 4.0% compared to February 2024. Therefore, the increasing electricity demand is driving the growth of the nuclear power plant market.

Segment Covered In The Nuclear Power Plant Market Report
The nuclear power plant market covered in this report is segmented –

1) By Reactor Type: Pressurized Water Reactor (PWR), Boiling Water Reactor (BWR), Pressurized Heavy Water Reactor (PHWR), Gas-Cooled Reactor (GCR), Other Reactor Types
2) By Component: Reactor Core, Steam Generator, Control Rods, Other Components
3) By Technology Adoption: Conventional Nuclear Technology, Advanced Nuclear Technology, Generation IV Reactors, Small Modular Reactor Technology, Research And Development In Next-Generation Reactors
4) By Application: Electricity Generation, Desalination, Research Reactors, Other Applications
5) By End-User Industry: Electric Power Generation, Industrial Manufacturing, Desalination Plants, Research Facilities, Healthcare And Medical Applications

Subsegments:
1) By Pressurized Water Reactor (PWR): Generation II Pressurized Water Reactor, Generation III Pressurized Water Reactor, Generation III+ Pressurized Water Reactor, Small Modular Reactor (SMR) - Pressurized Water Reactor
2) By Boiling Water Reactor (BWR): Generation II Boiling Water Reactor, Generation III Boiling Water Reactor, Advanced Boiling Water Reactor (ABWR), Small Modular Reactor (SMR) - Boiling Water Reactor
3) By Pressurized Heavy Water Reactor (PHWR): Canada Deuterium Uranium (CANDU) Reactor, Advanced Pressurized Heavy Water Reactor, Small Modular Reactor (SMR) - Pressurized Heavy Water Reactor
4) By Gas-Cooled Reactor (GCR): Magnox Gas-Cooled Reactor, Advanced Gas-Cooled Reactor (AGR), High-Temperature Gas-Cooled Reactor (HTGR)
5) By Other Reactor Types: Fast Breeder Reactor (FBR), Liquid Metal-cooled Reactor (LMR), Molten Salt Reactor (MSR), Small Modular Reactor (SMR)

What Are The Main Trends, Positively Impacting The Growth Of Nuclear Power Plant Market?
Major companies operating in the nuclear power plant market are focusing on developing advanced reactor technologies, such as single-loop pressurized water reactors, to enhance safety, improve efficiency, and reduce construction costs. A single-loop pressurized water reactor (PWR) is a type of nuclear reactor design where the reactor coolant circulates through one closed loop to transfer heat from the reactor core to the steam generator. For instance, in May 2023, Westinghouse Electric Company LLC, a US-based nuclear power company, launched the AP300 small modular reactor (SMR), a 300-MWe single-loop pressurized water reactor. The AP300 builds on the proven technology of the AP1000 reactor, offering a compact footprint, passive safety features that require no operator action or backup power, and an expected 80+ year operational lifespan. It offers reliable, safe, and clean electricity, as well as additional applications for district heating and water desalination. Its fast load-follow capabilities make it ideally suited for integration with renewable resources.

Key Player In The Nuclear Power Plant Market
Major Companies operating 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, Larsen & Toubro Limited.

View the full nuclear power plant market report here:
Nuclear Power Plant Market Size and Growth Report 2025

Global Nuclear Power Plant Market - Regional Insights:
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 the nuclear power plant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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