Market Size of Global Power Plant Uranium Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 1.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Power Plant Uranium Market Analysis
The global power plant uranium market is expected to grow at a CAGR of less than 1.2% during the forecast period. The COVID-19 pandemic had negatively impacted nuclear power plant projects in countries like France. Moreover, the pandemic has suspended the production of uranium from major mining centers. Factors like the increasing number of nuclear power plants especially in developing countries are likely to drive the market during the forecast period. However, high capital cost and complex technology are likely to hinder the market growth during the forecast period.
- Increasing adoption of renewable technologies are likely to restraint the market growth in the study period.
- Countries like China, and India has nuclear energy targets for 2030 and beyond. By 2030, China is likely to install 80 GW of nuclear power plants, whereas India to have around 22.4 GW of nuclear power by 2031. Such targets are likely to increase nuclear power projects and thus would leads to more demand for uranium in regions like Asia-Pacific.
- Asia-Pacific is expected to be a significant market for Uranium demand during the forecast period owing to a number of upcoming projects.
