The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing demand for electricity are expected to drive innovation in nuclear electricity manufacturing, thus driving the market during the forecast period.

The global nuclear electricity market is expected to grow from $204.41 billion in 2022 to $217.4 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The global nuclear electricity market size is expected to grow to $271.08 billion in 2027 at a CAGR of 5.7%.

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Global Nuclear Electricity Market Segments Include:

• By Reactor Type: Pressurized Water Reactors (PWR), Fast Breeder Reactor (FBR), Pressurized Heavy-Water Reactor (PHWR), Boiling Water Reactor (BWR), Light Water Graphite Reactor (LWGR), Gas-Cooled Reactor (GCR)
• By End-User: Residential, Commercial, Industrial
• By Technology:Generation I, Generation II, Generation III, and Generation IV
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global nuclear electricity market in 2021.

Major Market Players in the nuclear electricity market include EDF Group, Exelon Corp., Duke Energy Corp., Enel SpA, and NextEra Energy, Inc.

Global issues such as energy security, climate change, and electricity demand growth have led to an increase in the use of nuclear energy for power generation. Nuclear technology provides large amounts of power with significantly lower carbon emissions. According to the World Nuclear Association (WNA) 2020, nuclear energy now provides about 10% of the world’s electricity from about 440 power reactors. Around 50 more reactors are under construction, equivalent to around 15% of the existing capacity. In 2021, nuclear plants provided 2653 TWh of electricity, up from 2553 TWh in 2020. New nuclear markets such as Bangladesh, Turkey, and Vietnam are also making progress in nuclear power plant construction.

The Nuclear Electricity Global Market Report 2023  provides a nuclear electricity market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The nuclear electricity market forecast analyzes nuclear electricity market size, nuclear electricity market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Nuclear electricity refers to a clean and efficient way of boiling water to make steam, which turns turbines to produce electricity. The heat produced in the nuclear power reactor core during nuclear fission is used to boil water into steam, which converts the blades of a steam turbine. As the turbine blades turn, they drive generators that produce electricity.

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