The global nuclear power plant equipment market size was estimated at USD 21.52 billion in 2024 and is projected to reach USD 26.35 billion by 2030, growing at a CAGR of 3.4% from 2025 to 2030. This growth is driven by the adoption of low-carbon energy sources to combat climate change, the surging energy needs of rapidly developing economies, and modernization and life-extension programs for existing nuclear plants.

In addition, advancements in nuclear technology, including small modular reactors (SMRs) and next-generation reactor designs, are expected to deliver enhanced safety, greater efficiency, and lower operating costs, further boosting the adoption of nuclear energy. This trend, combined with favorable government policies and international initiatives focused on decarbonization, is accelerating the growth of this sector.

Government incentives, subsidies, and regulatory reforms aimed at reducing greenhouse gas emissions and ensuring energy security also play a pivotal role in market expansion. Nuclear power remains a critical component of global strategies to achieve carbon neutrality, making it a preferred alternative to fossil fuels.

Key Market Trends & Insights

• Asia Pacific dominated the nuclear power plant equipment market with a revenue share of 35.1% in 2024.

• North America is primarily driven by the need to upgrade and extend the life of aging reactors.

• By component, auxiliary equipment held the largest revenue share at nearly 67% in 2024.

• By reactor type, the pressurized water reactor (PWR) segment accounted for the largest revenue share of almost 45% in 2024, while the boiling water reactor (BWR) segment is expected to experience the fastest growth.

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Market Size & Forecast

• 2024 Market Size: USD 21.52 Billion

• 2030 Projected Market Size: USD 26.35 Billion

• CAGR (2025–2030): 3.4%

• Asia Pacific: Largest market in 2024

Competitive Landscape

Leading market players are focusing on R&D investments to introduce cutting-edge technologies like SMRs and next-generation reactors that promise higher safety and cost efficiency. Strategic partnerships, joint ventures, and plant modernization services are also being adopted to strengthen market positions and tap into emerging opportunities. Furthermore, adherence to stringent safety and performance standards through regulatory compliance is enabling companies to maintain a competitive advantage in this highly regulated industry.

Key Players

• GE Hitachi Nuclear Energy – A U.S.-based global provider of advanced nuclear technology, offering reactor designs, nuclear fuel services, and engineering solutions to ensure safe and efficient plant operations.

• Shanghai Electric – Specializes in industrial-grade smart systems and energy solutions, including nuclear power generation, solar, wind, and energy storage.

• X Energy, LLC – Focused on SMRs, offering scalable and safe nuclear solutions under XE-100 and XE-MOBILE designs.

• NuScale Power, LLC – Known for its flagship NuScale Power Module, a compact and scalable SMR design with passive safety features.

Other prominent players include:

ALSTOM SA, AVEVA, BWX Technologies, Inc., Dongfang Electric Co., Ltd., DOOSAN CORPORATION, EDF, and more.

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Conclusion

The nuclear power plant equipment market is poised for steady growth, supported by environmental mandates, technological advancements, and strong governmental backing. As nations prioritize carbon reduction and energy security, nuclear energy stands out as a reliable, low-carbon solution. The rise of SMRs and next-generation reactor technologies is expected to revolutionize the sector, ensuring safer and more cost-efficient operations. Companies that invest in innovation, regulatory compliance, and strategic partnerships will be best positioned to capture emerging opportunities in this evolving market.