Global Nuclear Energy Market Size, Share, Growth Analysis, By Type(Nuclear Fission, Nuclear Fusion), By Application(Electricity Generation, Industrial Process Heat) - Industry Forecast 2024-2031

Report ID: SQMIG55A2028 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Global Nuclear Energy Market Dynamics

Drivers

Low Carbon Emission:

Since nuclear energy produces a minimal carbon footprint, it stays in line with the recent guidelines to lower greenhouse gas emissions to win the fight against climate change. Nuclear power is the answer when businesses look for a reliable and green replacement for fossil fuel energy sources.

Energy Security:

In addition to lowering dependence on volatile fossil fuel markets and increasing national energy security, nuclear energy provides a steady and dependable supply of power.

Restraints

High Initial Costs:

Building a nuclear power plant requires a significant financial investment, making it a capital-intensive project for both public and private entities.

Waste Management:

The problem of safe long-term storage of radioactive waste remains unresolved and it needs to be dealt with to ensure avoiding damage to environment.

Global Nuclear Energy Market Report Snapshots

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FAQs

Global Nuclear Energy Market size was valued at USD 84.81 billion in 2022 and is poised to grow from USD 87.18 billion in 2023 to USD 108.74 billion by 2031, growing at a CAGR of 2.8% in the forecast period (2024-2031).

The competitive landscape of the nuclear energy market is characterized by a mix of global players, regional utilities, and government entities. Established industry leaders like EDF (Électricité de France), Exelon Corporation, Rosatom, and E.ON SE dominate the market due to their extensive experience, operational expertise, and large nuclear power plant portfolios. These companies have a significant presence across multiple regions and are often at the forefront of advancing nuclear technology and safety standards. 'EDF (Electricité de France)', 'Exelon Corporation', 'Rosatom', 'E.ON SE', 'Tokyo Electric Power Company Holdings (TEPCO)', 'Dominion Energy', 'Southern Company', 'China National Nuclear Corporation (CNNC)', 'Korea Electric Power Corporation (KEPCO)', 'Nuclear Energy Corporation of South Africa (NECSA)', 'Ontario Power Generation', 'Electric Power Development Co., Ltd. (J-Power)', 'Nucleoeléctrica Argentina S.A. (NA-SA)', 'Engie', 'Vattenfall AB', 'Areva Group', 'Fortum Corporation', 'TVO (Teollisuuden Voima Oyj)', 'Kansai Electric Power Co., Inc.', 'Duke Energy Corporation'

Since nuclear energy produces a minimal carbon footprint, it stays in line with the recent guidelines to lower greenhouse gas emissions to win the fight against climate change. Nuclear power is the answer when businesses look for a reliable and green replacement for fossil fuel energy sources.

Growing Interest in Carbon-Free Energy: The growing focus on reducing carbon emissions and inhibiting climate change is driving the interest in nuclear energy as a source of reliable and low-carbon energy. As industries shift to more sustainable energy systems, the nuclear power sector provides a helpful alternative because it can produce large amounts of uninterrupted electricity while refraining from emitting greenhouse gasses.

The world's largest nuclear energy market was in the Asia-Pacific area. China, which has been making substantial investments in the growth of its nuclear power capacity, and served as the market leader. The development of new nuclear power plants and China's lofty nuclear energy deployment plans helped the country take the lead in the industry.

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Global Nuclear Energy Market Size, Share, Growth Analysis, By Type(Nuclear Fission, Nuclear Fusion), By Application(Electricity Generation, Industrial Process Heat) - Industry Forecast 2024-2031

Global Nuclear Energy Market Dynamics

Global Nuclear Energy Market Report Snapshots

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