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North America Nuclear Power Plant and Equipment Market Size: By Reactor Type: PWR (Pressurised Water Reactor), PHWR (Pressurised Heavy Water Reactor), Boiling Water Reactor (BWR), Light Water Graphite Reactor (LWGR), Others; By Equipment Type; By Application; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
North America Nuclear Power Plant and Equipment Market Outlook
The North America nuclear power plant and equipment market size reached around USD 14.45 billion in 2023. The market is projected to grow at a CAGR of 4.0% between 2024 and 2032, reaching almost USD 20.71 billion by 2032.
Key Takeaways:
- The United States of America accounts for 30% of the world’s nuclear power generation.
- Public Utilities are expected to constitute a major portion of the North America nuclear power plant and equipment market share.
- Canada is expected to witness a significant increase in the demand for nuclear power plants and equipment in upcoming years.
Nuclear power is responsible for meeting 20% of the total electricity demand in the United States. Even a modest increase in the consumption of electricity could trigger a wide gap between the supply and demand for nuclear power, which currently accounts for 55% of the carbon-free electricity generation in the United States. To avoid this, 55 GWe of new nuclear power capacity has to be established in the United States by 2035. This is expected to drive the North America nuclear power plant and equipment market expansion over the forecast period.
Improvements in safety systems and refuelling and maintenance processes in nuclear power plants have led to a reduction in the cost of nuclear power generation in the United States and Canada. This is expected to increase the nuclear power production in the region, thereby fuelling the North America nuclear power plant and equipment market growth over the forecast period.
The provision of various laws, such as the Inflation Reduction Act of 2022, which favour the expansion of existing facilities and construction of new nuclear power plants are expected to drive the North America nuclear power plant and equipment market growth in the coming years.
Market Segmentation
North America Nuclear Power Plant and Equipment Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Reactor Type
- (PWR) Pressurised Water Reactor
- (PHWR) Pressurised Heavy Water Reactor)
- Boiling Water Reactor (BWR)
- Light Water Graphite Reactor (LWGR)
- Gas Cooled Reactor (GCR)
- Others
Market Breakup by Equipment Type
- Island Equipment
- Auxiliary Equipment
Market Breakup by Application
- Military
- Public Utilities
- Others
Market Breakup by Country
- United States of America
- Canada
The key North America nuclear power plant and equipment market players are GE-Hitachi Nuclear Energy Ltd., Toshiba Corp. (Toshiba Energy Systems & Solutions Corporation), Doosan Corp., Mitsubishi Heavy Industries Ltd., BWX Technologies Inc., Nuscale Power Corp., Westinghouse Electric Company LLC, and Terrestrial Energy Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Reactor Type |
|
| Breakup by Equipment Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Nuclear Power Plant and Equipment Market Overview
8.1 Key Industry Highlights
8.2 Global Nuclear Power Plant and Equipment Historical Market (2018-2023)
8.3 Global Nuclear Power Plant and Equipment Market Forecast (2024-2032)
8.4 Global Nuclear Power Plant and Equipment Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Nuclear Power Plant and Equipment Market Overview
9.1 Key Industry Highlights
9.2 North America Nuclear Power Plant and Equipment Historical Market (2018-2023)
9.3 North America Nuclear Power Plant and Equipment Market Forecast (2024-2032)
10 North America Nuclear Power Plant and Equipment Market by Reactor Type
10.1 PWR (Pressurised Water Reactor)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 PHWR (Pressurised Heavy Water Reactor)
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Boiling Water Reactor (BWR)
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Light Water Graphite Reactor (LWGR)
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Gas Cooled Reactor (GCR)
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 North America Nuclear Power Plant and Equipment Market by Equipment Type
11.1 Island Equipment
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Auxiliary Equipment
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 North America Nuclear Power Plant and Equipment Market by Application
12.1 Military
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Public Utilities
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Others
13 North America Nuclear Power Plant and Equipment Market by Country
13.1 United States of America
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Canada
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Trade Data Analysis (HS Code – 840120)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 GE-Hitachi Nuclear Energy Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Toshiba Corp. (Toshiba Energy Systems & Solutions Corporation)
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Doosan Corp.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Mitsubishi Heavy Industries Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 BWX Technologies Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Nuscale Power Corp.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Westinghouse Electric Company LLC
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Terrestrial Energy Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Nuclear Power Plant and Equipment Market: Key Industry Highlights, 2018 and 2032
2. North America Nuclear Power Plant and Equipment Market: Key Industry Highlights, 2018 and 2032
3. North America Nuclear Power Plant and Equipment Historical Market: Breakup by Reactor Type (USD Billion), 2018-2023
4. North America Nuclear Power Plant and Equipment Market Forecast: Breakup by Reactor Type (USD Billion), 2024-2032
5. North America Nuclear Power Plant and Equipment Historical Market: Breakup by Equipment Type (USD Billion), 2018-2023
6. North America Nuclear Power Plant and Equipment Market Forecast: Breakup by Equipment Type (USD Billion), 2024-2032
7. North America Nuclear Power Plant and Equipment Historical Market: Breakup by Application (USD Billion), 2018-2023
8. North America Nuclear Power Plant and Equipment Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. North America Nuclear Power Plant and Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
10. North America Nuclear Power Plant and Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Major Exporting Countries by Value
12. Major Importing Countries by Value
13. Major Exporting Countries by Volume
14. Major Importing Countries by Volume
15. North America Nuclear Power Plant and Equipment Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 14.45 billion in 2023.
The market is projected to grow at a CAGR of 4.0% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 20.71 billion in 2032.
The different reactor types in the market include pressurised water reactor (PWR), pressurised heavy water reactor (PHWR), boiling water reactor (BWR), boiling water reactor, and gas cooled reactor (GCR), among others.
The different equipment types in the market include island equipment and auxiliary equipment.
The different applications of nuclear power plant and equipment are military, and public utilities, among others.
The major countries in the market include the United States of America and Canada.
The key market players are GE-Hitachi Nuclear Energy Ltd., Toshiba Corp. (Toshiba Energy Systems & Solutions Corporation), Doosan Corp., Mitsubishi Heavy Industries Ltd., BWX Technologies Inc., Nuscale Power Corp., Westinghouse Electric Company LLC, and Terrestrial Energy Inc., among others.
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