The nuclear power generation market is projected to expand from approximately US$ 271.4 billion in 2022 to around US$ 392.7 billion by 2030, reflecting a compound annual growth rate (CAGR) of 1.24% during this period.

The trends in the nuclear power generation sector highlight its potential role in achieving net-zero emissions and facilitating the future energy transition. Nuclear energy is anticipated to become a crucial contributor to electricity generation moving forward. As a reliable and low-emission energy source, nuclear power is expected to play a vital role in the evolving energy landscape, providing consistent, emission-free electricity that meets the increasing demand for power. Consequently, the anticipated growth in nuclear power plants is expected to support the achievement of future energy generation targets, thereby driving market expansion in the years ahead.

In recent years, the nuclear industry has seen significant growth in regions such as North America, Europe, and Asia Pacific, leading to a rising demand for nuclear power generation. Key markets include the United States, Canada, France, Russia, China, South Korea, South Africa, and Brazil. The increasing emphasis on energy security and sustainability has made nuclear power an attractive option, as it offers a stable energy supply that is less susceptible to price volatility and supply disruptions compared to fossil fuels. Countries are seeking diverse and reliable energy sources to diminish their dependence on fossil fuels. The long-term viability of nuclear power plants, along with advancements in reactor technology, positions nuclear energy as a sustainable solution to meet global energy demands. These factors are contributing to the growth of the nuclear power generation market.

The rising investments in nuclear power facilities and the increasing number of operational nuclear plants are significant drivers of market growth. Trends favoring clean energy and low-carbon alternatives are expected to further enhance the nuclear power generation market. Additionally, nuclear energy contributes to energy security by reducing reliance on imported fossil fuels, which can be subject to geopolitical uncertainties. The long-term energy supply capabilities of nuclear power plants, combined with innovative reactor designs, ensure sustainability in meeting global energy needs.

The nuclear power generation market is categorized by reactor type, including pressurized water reactors, boiling water reactors, gas-cooled reactors, and others. The pressurized water reactor segment holds the largest share of the market, accounting for 80.54% in 2022, and is expected to continue its dominance throughout the forecast period. The reactor type segmentation in the global nuclear power generation market includes pressurized water reactors, gas-cooled reactors, boiling water reactors, and other types, with pressurized water reactors leading the market.

In terms of end-users, the global nuclear power generation market is divided into residential, commercial, and industrial segments. The industrial segment represented 45.43% of the total market share in 2022 and is projected to maintain its leading position from 2022 to 2030. This is primarily due to the increasing electricity demand from industrial sectors in countries such as the United States, China, India, Brazil, Japan, and Russia. The rapid economic growth and industrial development in regions like Europe, North America, and Asia Pacific are driving the demand for nuclear power generation. Emerging economies, particularly China, India, Brazil, and Canada, are expected to further stimulate this demand during the forecast period.

The analysis of the global nuclear power generation market has been conducted by examining various segments, including reactor type, end-user, and geographical distribution. The reactor types are categorized into pressurized water reactors, boiling water reactors, gas-cooled reactors, and others. The end-user segmentation includes residential, commercial, and industrial categories. Geographically, the market is analyzed across five major regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM).

Key players in the nuclear power generation market include Electricite de France, China National Nuclear Corporation, KEPCO, Dominion Energy Inc., General Electric, Duke Energy Corporation, Enel SpA, NextEra Energy, Inc., State Atomic Energy Corporation, and Constellation Energy Corporation.

The overall forecast for the nuclear generation market has been developed through a combination of primary and secondary research. Extensive secondary research has been conducted using both internal and external sources to gather quantitative and qualitative data regarding the nuclear power generation market size. This process has facilitated a comprehensive overview and forecast of the nuclear power generation market across all segments. Additionally, numerous primary interviews with industry stakeholders have been carried out to validate the data and gain deeper analytical insights. This includes discussions with industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the nuclear power generation sector.