The global nuclear power plant and equipment market size was US$ 81.34 billion in 2021. The global nuclear power plant and equipment market size is forecast to reach US$ 191.81 billion by 2030, growing at a compound annual growth rate (CAGR) of 10% during the forecast period from 2022 to 2030.

Nuclear power comes from the energy released by a fission reaction. The technology used was developed during World War II. Nuclear fission is a nuclear power plant that combines fission and fusion in a controlled environment, generating large amounts of heat. The heat exchanger used to produce electricity then converts this heat into steam. There are different types of reactors used in nuclear power plants.

Factors Influencing Market Growth

• As energy demand rises and cleans electricity generation increases worldwide, the global nuclear power plant and equipment market is forecast to grow. As energy demand increases, countries turn to clean and efficient energy sources, such as nuclear power. 
• A number of technological advancements in nuclear power equipment have driven the market even further, upping its growth potential. 
• There has been a slowdown in the market growth attributed to the difficulty of managing nuclear waste including, radioactive waste.
• Increased nuclear energy reliability in several countries will create lucrative opportunities for overall market growth during the forecast period.

Impact Analysis of COVID-19

The nuclear power market saw a slight spike with the commissioning of nuclear reactors in the United Arab Emirates and Belarus following the COVID-19 pandemic. There were repercussions from the lockdowns imposed on multiple construction sites, such as those in Bangladesh and the United States. As a result of the delays in the work, the project's cost increased. Meanwhile, due to the reduced consumption of electricity, several plants were forced to stop temporarily during the pandemic, which impacted the market for nuclear power plant equipment to a certain degree. 

Regional Insights

The Asia Pacific region held dominant in the nuclear power plant and equipment market and is forecast to remain dominant throughout the forecast period. The region is one of the largest worldwide when it comes to electricity generation capacity and specifically nuclear power. Asia-Pacific's power shortages and widespread air pollution issues have encouraged governments to look for new energy sources such as nuclear power. China and India are the leading countries contributing to the growth of the nuclear power plant and equipment market in Asia-Pacific. Indonesia also has more nuclear technology experience and infrastructure than any other country in Southeast Asia. Therefore, Asia-Pacific is forecast to drive the nuclear power plant equipment market during the forecast period.

Leading Competitors

The leading prominent companies profiled in the global nuclear power plant and equipment market are:

• Shanghai Electric Group Co., Limited
• Mitsubishi Heavy Industries, Limited
• Larsen & Toubro Limited
• BWX Technologies, Incorporated
• Dongfang Electric Corp. Limited
• ROSATOM (ROSATOM State Atomic Energy Corporation)
• Toshiba
• Doosan Corporation
• Korea Electric Power Corporation
• General Electric. 
• Hitachi, Limited
• Babcock & Wilcox Enterprises Incorporated
• Orano SA
• Korea Hydro & Nuclear Energy
• Other Prominent Players

Scope of the Report

The global nuclear power plant and equipment market segmentation focus on Reactor Type, Equipment, and Region.

Segmentation based on Reactor Type

• PWR (Pressurized water reactor)
• PHWR (Pressurized heavy water reactor)
• Boiling water reactor (BWR)
• High-temperature gas-cooled reactor (HTGR),
• Fast Breeder Reactor (FBR)
• Others

Segmentation based on Equipment

• Island Equipment
• Auxiliary Equipment

Segmentation based on Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Brazil
  • Argentina
  • Rest of South America