Market Size of Nuclear Power Industry
| Study Period | 2020 - 2029 |
| Market Volume (2024) | 411.51 gigawatt |
| Market Volume (2029) | 439.39 gigawatt |
| CAGR (2024 - 2029) | 1.32 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Nuclear Power Market Analysis
The Nuclear Power Market size is estimated at 411.51 gigawatt in 2024, and is expected to reach 439.39 gigawatt by 2029, growing at a CAGR of 1.32% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.
- Factors such as the ability of nuclear energy to generate electricity with lower carbon emissions compared to fossil fuels have been driving the market's growth over the medium term.
- On the other hand, the high initial cost of setting up a nuclear power plant and the availability of alternative power generation sources, such as renewable energy, is likely to restrain the market's growth during the forecast period.
- Nevertheless, nations worldwide are researching and developing generation IV nuclear energy technologies to promote safety, technical, economic, and environmental advancements in nuclear energy. This, in turn, is likely to create several future opportunities for the market.
- Asia-Pacific is expected to witness significant growth in the nuclear power market during the forecast period, owing to its substantial share of nuclear energy in China and India.
