Global Nuclear Power Market - Share Analysis, Industry Trends, Statistics, and Growth Forecasts, 2026-2031 | SMRs and Asia-Pacific Expansion Drive Investment

Global Nuclear Power Market - Share Analysis, Industry Trends, Statistics, and Growth Forecasts, 2026-2031 | SMRs and Asia-Pacific Expansion Drive Investment Dublin, Oct. 30, 2026 (GLOBE NEWSWIRE) -- "Nuclear Power - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.

The global nuclear power market is projected to expand from 400.56 gigawatt in 2025 and 409.90 gigawatt in 2026 to 425 gigawatt by 2031, registering a CAGR of 0.73% from 2026 to 2031. Growth is being supported by national decarbonization targets, reactor lifetime extension programs, advanced small modular reactor development and rising demand for reliable, zero-emission baseload power.

Clean Baseload Power Strengthens Nuclear Energy Investment

Governments are increasingly incorporating nuclear power into long-term energy security and carbon reduction strategies. France's 2024 energy law mandates six new EPR2 units, while the United Kingdom's Great British Nuclear program targets 24 GW of nuclear capacity by 2050. In the United States, production tax credits introduced under the Inflation Reduction Act are improving project economics, including in deregulated electricity markets.

Policy instruments such as the U.K. regulated asset-base model are also helping reduce financing costs that previously contributed to project cancellations. These measures are restoring investor interest in nuclear energy, particularly in markets where the cost of energy storage limits the adoption of high-renewables power systems.

Lifetime Extension and Uprate Programs Support Capacity Growth

Extending existing reactor operations from 40 years to 60 or 80 years enables utilities to preserve generating capacity while deferring multi-billion-dollar replacement projects. The U.S. Nuclear Regulatory Commission approved 11 subsequent license renewals in 2024-2025, increasing the average remaining operating life of the domestic fleet to 28 years.

France's EUR 49.4 billion Grand Carenage modernization program is similarly designed to extend reactor operations and strengthen safety performance. Uprate projects can increase generation by 5-20% through equipment replacements and facility improvements without requiring greenfield permitting. These projects can achieve levelized costs below USD 30 per MWh, compared with more than USD 70 per MWh for new large reactors. However, aging fleets require predictive maintenance and operational excellence to minimize unplanned outages.

Cost Overruns and Financing Remain Key Market Challenges

High capital requirements, construction delays and supply-chain fragmentation continue to affect the global nuclear power market. Vogtle 3-4 entered service at a reported cost of USD 35 billion, more than double its original budget. France's Flamanville 3 required EUR 19.1 billion and 17 years of development.

First-of-a-kind engineering risks and changing safety requirements can increase costs and place pressure on utility balance sheets. Greater standardization, repeat reactor construction and more effective project management will be critical to improving delivery performance. The market must also address HALEU fuel-supply bottlenecks as advanced reactor development progresses.

Nuclear Reactor Type and Size Analysis

Pressurized light-water reactors accounted for 72.8% of global nuclear power market share in 2025. Their leadership reflects standardized supply chains, established operating experience and broad regulatory acceptance. Pressurized heavy-water reactors remain strategically important in India and Canada, while boiling water reactors continue to face higher retrofit and operating requirements in several markets.

Fast breeder reactors are projected to grow at a CAGR of 21.4%, supported by Russia's BN-800 and China's CFR-600 programs. These reactors improve uranium utilization and can support closed fuel cycles, although sodium-cooling systems, elevated capital costs and specialized safety requirements may restrict adoption without sovereign backing. Light-water reactor designs are therefore expected to retain their scale advantage through 2031.

Medium-sized plants between 500 and 1,000 MWe represented the largest market segment in 2025, balancing economies of scale with grid integration flexibility. Small reactors below 500 MWe are forecast to expand at a CAGR of 20.1%, supported by factory fabrication, lower onsite labor requirements and reduced financing exposure.

NuScale's 77 MWe module and GE-Hitachi's 300 MWe BWRX-300 are among the projects supporting the commercial pipeline. Small modular reactors are attracting interest from emerging economies, utilities and industrial operators seeking incremental capacity or captive power. Large reactors above 1,000 MWe maintain cost-per-kilowatt advantages in markets with policy-backed financing and long-term electricity offtake arrangements.

Regional Nuclear Power Market Outlook

Europe held 39.1% of global nuclear capacity in 2025, led by France's 56-unit fleet, which supplied approximately 65% of the country's electricity. Nuclear developments in the United Kingdom, Poland and the Czech Republic are expected to offset some regional retirements. France began civil works on its first EPR2 project at Penly in 2026, while Hinkley Point C in the U.K. is targeting a 2031 start.

Asia-Pacific is projected to be the fastest-growing regional market, advancing at a CAGR of 7.2%. China connected 22 reactors during 2024-2025, and India commissioned two indigenous 700 MWe heavy-water units. Reactor restarts in Japan and renewed nuclear energy support in South Korea are also contributing to regional capacity growth.

North America's outlook is increasingly linked to small modular reactor demonstrations, including TerraPower's Natrium project and Ontario Power Generation's BWRX-300 development. Vogtle's two AP1000 units have already added 2.2 GW of capacity. In the Middle East and Africa, the UAE's Barakah plant provides 5.6 GW of baseload generation, while Saudi Arabia has pre-qualified vendors for a 2.8 GW tender. South American activity remains focused on Brazil's Angra 3 and Argentina's CAREM-25, reflecting continued but measured regional investment in nuclear energy.

Key Topics Covered:

1 Introduction

1.1 Study Assumptions & Market Definition

1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increase in demand for clean baseload power

4.2.2 Lifetime extension & uprate programs

4.2.3 Commercialization of advanced SMRs

4.2.4 Industrial decarbonization process-heat demand

4.2.5 Nuclear-produced hydrogen & ammonia initiatives

4.2.6 Emergence of nuclear-powered data-center & marine applications

4.3 Market Restraints

4.3.1 Cost overruns & financing challenges

4.3.2 Competition from low-cost renewables

4.3.3 HALEU fuel-supply bottlenecks

4.3.4 Export-control & proliferation scrutiny

4.4 Supply-Chain Analysis

4.5 Regulatory Landscape

4.6 Technological Outlook

4.7 Porters Five Forces

4.7.1 Bargaining Power of Suppliers

4.7.2 Bargaining Power of Buyers

4.7.3 Threat of New Entrants

4.7.4 Threat of Substitutes

4.7.5 Intensity of Rivalry

5 Market Size & Growth Forecasts

5.1 By Reactor Type

5.1.1 Pressurized Light-Water Moderated and Cooled Reactor (PWR)

5.1.2 Pressurized Heavy-Water Moderated and Cooled Reactor (PHWR)

5.1.3 Boiling Light-Water Cooled and Moderated Reactor (BWR)

5.1.4 Gas Cooled, Graphite Moderated Reactor (GCR)

5.1.5 High-Temperature Gas-Cooled Reactor (HTGR)

5.1.6 Light-Water Cooled, Graphite Moderated Reactor (LWGR)

5.1.7 Fast Breeder Reactor (FBR)

5.1.8 Others

5.2 By Reactor Size

5.2.1 Large (Above 1,000 MWe)

5.2.2 Medium (500 to 1,000 MWe)

5.2.3 Small (Below 500 Mwe; includes SMRs and Micro-reactors)

5.3 By Fuel Type

5.3.1 Low-Enriched Uranium (Below 5% U-235)

5.3.2 High-Assay LEU (5 to 20% U-235)

5.3.3 Mixed Oxide (MOX)

5.3.4 Thorium-based Fuels

5.4 By Application

5.4.1 Grid-Connected Power

5.4.2 Off-grid/Remote Electrification

5.4.3 Industrial Process Heat and Steam

5.4.4 Desalination and District Heating

5.4.5 Defense and Military Bases

5.5 By End-User Sector

5.5.1 Utilities and IPPs

5.5.2 Industrial and Petro-chemical

5.5.3 Mining and Remote Operations

5.5.4 Government/Defense

5.5.5 Research Institutions

5.6 By Geography

5.6.1 North America

5.6.1.1 United States

5.6.1.2 Canada

5.6.1.3 Mexico

5.6.2 Europe

5.6.2.1 United Kingdom

5.6.2.2 France

5.6.2.3 Sweden

5.6.2.4 Spain

5.6.2.5 Ukraine

5.6.2.6 Russia

5.6.2.7 Rest of Europe

5.6.3 Asia-Pacific

5.6.3.1 China

5.6.3.2 India

5.6.3.3 Japan

5.6.3.4 South Korea

5.6.3.5 Rest of Asia-Pacific

5.6.4 South America

5.6.4.1 Brazil

5.6.4.2 Argentina

5.6.4.3 Rest of South America

5.6.5 Middle East and Africa

5.6.5.1 United Arab Emirates

5.6.5.2 South Africa

5.6.5.3 Egypt

5.6.5.4 Rest of Middle East and Africa

6 Competitive Landscape

6.1 Market Concentration

6.2 Strategic Moves (M&A, JVs, Funding, PPAs)

6.3 Market Share Analysis (Market Rank/Share for Key Companies)

6.4 Company Profiles (includes Global-level Overview, Market-level Overview, Core Segments, Financials, Strategic Information, Products & Services, Recent Developments)

6.4.1 Electricite de France SA (EDF)

6.4.2 Rosatom State Atomic Energy Corporation

6.4.3 China National Nuclear Corporation (CNNC)

6.4.4 Westinghouse Electric Company LLC

6.4.5 GE-Hitachi Nuclear Energy

6.4.6 Framatome SA

6.4.7 Mitsubishi Heavy Industries Ltd

6.4.8 Korea Hydro & Nuclear Power / KEPCO E&C

6.4.9 BWX Technologies Inc.

6.4.10 Bechtel Corporation

6.4.11 Doosan Enerbility Co. Ltd

6.4.12 Fluor Corporation (NuScale)

6.4.13 SKODA JS a.s.

6.4.14 Holtec International

6.4.15 TerraPower LLC

6.4.16 Rolls-Royce SMR Ltd

6.4.17 X-Energy LLC

6.4.18 General Fusion Inc.

6.4.19 Ontario Power Generation

6.4.20 Babcock International Group

6.4.21 Bilfinger SE

6.4.22 Duke Energy Corporation

6.4.23 Japan Atomic Power Company

6.4.24 Ansaldo Nucleare

7 Market Opportunities & Future Outlook

7.1 White-space & Unmet-Need Assessment

7.2 Advanced Small Modular Reactors

7.3 Floating Nuclear Plants

7.4 Nuclear Hydrogen & Ammonia Production

7.5 Data-Center & Marine Micro-reactors

7.6 Lifetime Extension Services Market

7.7 Decommissioning & Waste-Management Services

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