Kings Research™ in its report titled ” Nuclear Energy Market , Share and Industry Analysis, By Type (Nuclear Fission, Nuclear Fusion, Nuclear Decay), By Application (Power Generation, Industrial Process Heat, Research and Development, Desalination)” with this information, as well as regional analysis, 2024-2031″
The unique advantages of nuclear energy, such as high energy density, low greenhouse gas emissions and stable power output, make it an important part of many countries’ energy strategies. The market is supported by continued developments in nuclear reactor technology, including small modular reactors (SMRs) and fourth-generation reactors, which promise to make nuclear power safer, cheaper and more accessible.
The nuclear energy market is expected to reach US$30.8 billion in 2023, with a compound annual growth rate (CAGR) of 2.96% from 2024 to 2031, and is expected to reach US$31.25 billion in 2024.
View full report details @ https://www.kingsresearch.com/zh/nuclear-energy-market-729
List of key companies in the nuclear energy market:
- NuScale Electric Power Co., Ltd.
- TerraPower LLC
- Cameco Corporation
- Westinghouse Electric Co., Ltd.
- GE Villenova
- BWX Technology. company
- China National Nuclear Corporation
- ROSATOM State Atomic Energy Corporation
- EDF
- Mitsubishi Heavy Industries Co., Ltd.
Key drivers and trends:
- Energy security: Nuclear energy plays a vital role in enhancing energy security by providing stable and reliable power supply. Unlike intermittent renewable energy sources such as wind and solar, nuclear power plants operate continuously, providing a stable energy output. This reliability is vital to supporting the national grid and ensuring stable power supply, particularly during periods of peak demand
- Mitigating climate change : As global efforts to combat climate change continue to intensify, nuclear energy is increasingly regarded as an important part of the low-carbon energy structure. Nuclear power plants produce the fewest greenhouse gas emissions compared to fossil fuel power generation, making them a key asset in meeting carbon reduction goals. Governments around the world are investing in nuclear technology to transition to cleaner energy systems and reduce their carbon footprint.
- Technological Advances : Innovations in nuclear technology, including the development of small modular reactors (SMRs) and advances in nuclear fusion, are set to revolutionize the market. Small and medium-sized reactors offer several advantages over traditional large-scale reactors, such as lower capital costs, enhanced safety features, and greater deployment flexibility. These advances are expected to drive further adoption of nuclear energy across regions
- Government Policies and Investments : Supportive government policies and substantial investments in nuclear infrastructure are crucial for the growth of the market. Some countries are implementing policies that encourage the development of new nuclear power plants and extend the service lives of existing ones. For example, the UK government’s recent subsidies for innovative energy projects highlight the strategic importance of nuclear power in the national energy plan
The global nuclear energy market is segmented into:
by type
- nuclear fission
- nuclear fusion
- nuclear decay
press application
- generate electricity
- Industrial process heat
- research and development
- Desalination
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