From GlobeNewswire: 2025-01-17 08:00:00

The global Nuclear Power Market is set to grow from USD 38.84 billion in 2024 to USD 44.71 billion by 2029, with a CAGR of 2.9%. Nuclear power is generated through nuclear fission, where heavy atoms split to produce heat used for electricity generation.

Factors driving market growth include government support, cost competitiveness, and the stability of nuclear energy. Countries like China, Russia, and France are expanding their nuclear capacity due to rising fuel prices and regulatory frameworks that promote safe development.

Power generation is expected to be the largest segment in the nuclear power market, providing a stable and reliable source of electricity for industrialization and urbanization. Nuclear power reduces reliance on fossil fuels and provides constant energy generation in comparison to intermittent renewable sources.

The Asia Pacific region leads the Nuclear Power Industry, with countries like China, India, and South Korea investing heavily in new nuclear plants and advanced technologies. China’s ambitious energy strategy and supportive policies drive growth, making it the largest-growing nuclear energy market globally.

Key players in the Nuclear Power Companies sector include ROSATOM, EDF, Mitsubishi, and Westinghouse. The industry faces challenges such as high initial investment, nuclear waste management, and safety concerns, but also opportunities for modernizing energy infrastructure and global partnerships.

Asia Pacific is expected to remain the largest region in the Nuclear Power Industry due to rapid industrialization and energy demand. Government initiatives for decarbonization, combined with urbanization and economic growth, contribute to the region’s adoption of nuclear power for energy needs.



Read more at GlobeNewswire: Nuclear Power Market Size Projected to Grow $44.71 billion