Nuclear Power Equipment Market size was valued at USD 45.6 Billion in 2024 and is forecasted to grow at a CAGR of 4.1% from 2026 to 2033, reaching USD 62.3 Billion by 2033.
The global Nuclear Power Equipment Market was valued at USD 40.6 billion in 2022, with a projected compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. The demand for nuclear power equipment is expected to rise due to the growing focus on reducing carbon emissions and meeting global energy needs. The market size is anticipated to reach approximately USD 72.5 billion by 2030. Increased investments in the development of nuclear power plants, along with the need for upgrading aging infrastructure, are expected to drive the demand for nuclear power equipment. Key drivers include the integration of advanced technologies, safety improvements, and the expansion of nuclear energy capacities worldwide, especially in emerging economies. The markets growth is also fueled by governmental support for nuclear energy as a cleaner alternative to fossil fuels, contributing to the increased construction of new reactors globally.
Regionally, North America held the largest market share in 2022, contributing to over 35% of the global market revenue. The market in this region is driven by the ongoing nuclear power generation expansion projects and the continuous upgrade of existing reactors. Europe followed closely, with a market share of around 30%, due to the commitment of several European countries to maintain and expand their nuclear power generation capacity. The Asia Pacific region is projected to grow at the highest CAGR during the forecast period, driven by increasing investments in nuclear energy in countries such as China, India, and Japan. With growing energy demands and a shift towards sustainable energy sources, the Middle East and Africa are expected to present significant opportunities for market expansion in the coming years.
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Hitachi-GE Nuclear Energy
Mitsubishi Heavy Industries
Larsen and Toubro Industries
Babcock and Wilcox
Dongfang Electric
Orano
Doosan Enerbility
Shanghai Electric
China First Heavy Industries
Harbin Electric Corporation
Xiangtan Electric Manufacturing
SuZhou THVOW Technology
SUFA Technology Industry
Nanfang Ventilator
Dalian Huarui Heavy Industry Group
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Nuclear Power Equipment Market
Pressurized Water Reactor (PWR)
Boiling Water Reactor (BWR)
Pressurized Heavy Water Reactor (PHWR)
Small Modular Reactors (SMR)
Advanced Generation Reactors (Gen III & Gen IV)
Reactor Vessel
Steam Generators
Fuel Assemblies
Turbine Generators
Control Systems
Cooling Systems
Electricity Generation
District Heating
Industrial Processes
Research Applications
Medical Applications (Isotope production)
Engineering and Consulting Services
Maintenance and Repair Services
Decommissioning Services
Testing and Inspection Services
Training and Certification Services
Uranium Fuel
Plutonium Fuel
Mixed Oxide Fuel (MOX)
Thorium Fuel
Enriched and Natural Uranium
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Nuclear Power Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Nuclear Power Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Nuclear Power Equipment Market, By Type
6. Global Nuclear Power Equipment Market, By Application
7. Global Nuclear Power Equipment Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Nuclear Power Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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