Global Nuclear Power Market To Exceed USD 49.25 Billion by 2035| CAGR of 3.05%

According to a research report published by Spherical Insights & Consulting, The Global Nuclear Power Market is Expected To Grow From USD 35.40 Billion in 2024 to USD 49.25 Billion by 2035, at a CAGR of 3.05% during the Forecast Period 2025-2035.

Browse key industry insights spread across 240 pages with 120 Market data tables and figures & charts from the report on the "Global Nuclear Power Market Size, Share, and COVID-19 Impact Analysis, By Reactor Type (Pressurized Water Reactors (PWRs), Boiling Water Reactors (BWRs), Pressurized Heavy Water Reactors (PHWRs), and Others), By Reactor Size (Large Reactors, and Small Modular Reactors (SMRs)), By Application (Energy, and Hydrogen Production), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/nuclear-power-market 

The global industry, including the development, manufacturing, and distribution of nuclear energy and related technologies, is referred to as the nuclear power market. Operators of nuclear power plants, technology developers, fuel suppliers, regulatory organizations, and governmental organizations are among the many parties involved in this intricate network. The need for nuclear fission-generated power, which offers a low-carbon substitute for fossil fuels, is what defines nuclear power market. Research and development of improved reactor designs, supply and management of nuclear fuel, nuclear reactor construction and maintenance, and the application of safety and environmental standards are all included in the nuclear power market. The growing need for electricity and growing environmental concerns are the main drivers of the nuclear power business. As the world's population increases and gets more urbanized, there will likely be a greater need for energy, which will support market expansion. The primary drivers of the nuclear power market include the fact that there is a greater demand for energy than there is supply, as well as the depletion of fossil fuels and increased awareness of the benefits of clean energy. However, High prices, drawn-out construction, strict rules, safety issues, waste management difficulties, and competition from renewable energy sources are some of the restraining factors.  

The pressurized water reactors (PWRs) segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.   

Based on the reactor type, the nuclear power market is divided into pressurized water reactors (PWRs), boiling water reactors (BWRs), pressurized heavy water reactors (PHWRs), and others. Among these, the pressurized water reactors (PWRs) segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The most beneficial aspect of the PWR is its turbine cycle. The primary and secondary loops in the main system loop are separate, thus radioactive particles cannot ever contaminate water.   

The large reactors segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.   

Based on the reactor size, the nuclear power market is divided into large reactors, and small modular reactors (SMRs). Among these, the large reactors segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. In order to further solidify their market position, numerous nations also keep spending money on modernizing and prolonging the lifespan of their current big reactors. Large reactors continue to be an essential part of the worldwide nuclear energy landscape, even in the face of developing technology.     

The energy segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. 

Based on the application, the nuclear power market is divided into energy, and hydrogen production. Among these, the energy segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. It is anticipated that the growing demand for water and energy, along with the strain on supply sources, will sustain the segmental expansion. Demand for energy-intensive desalination facilities is rising as a result of these pressures, which are also contributing to the scarcity of fresh water.     

North America is expected to hold the majority share of the global nuclear power market during the forecast period.

North America is expected to hold the majority share of the global nuclear power market during the forecast period. The North America region is driven by substantial investments in advanced nuclear technologies, supportive government policies, and a well-established nuclear infrastructure. The region's focus on clean energy transition further reinforces its leading market position.

Asia Pacific is anticipated to grow at the fastest pace in the global nuclear power market during the forecast period. The Asia Pacific region is driven by increasing energy demand, government initiatives, and significant investments in new nuclear power projects and advanced technologies.

Major vendors in the global nuclear power market are Orano SA, Engie SA, Rosatom, Cameco Corp., Nuscale Power, Centrus Energy, FirstEnergy Corp., Electricite de France, GE Hitachi Nuclear Energy, Constellation Energy Corporation, Energy Harbor Nuclear Generation LLC, Korea Hydro & Nuclear Power Co., Ltd., China National Nuclear Corporation, Westinghouse Electric Company LLC, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development 

• In March 2025, with the help of BNP Paribas Exane Research, the THEAM Quant platform of BNP Paribas introduced the THEAM Quant Nuclear Opportunities fund, which aims to provide exposure to businesses in the nuclear energy value chain.     

Market Segment  

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the nuclear power market based on the below-mentioned segments:

Global Nuclear Power Market, By Reactor Type

• Pressurized Water Reactors (PWRs)
• Boiling Water Reactors (BWRs)
• Pressurized Heavy Water Reactors (PHWRs)
• Others

 Global Nuclear Power Market, By Reactor Size    

• Large Reactors
• Small Modular Reactors (SMRs)

Global Nuclear Power Market, By Application

• Energy
• Hydrogen Production

Global Nuclear Power Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa