Last Updated: 28 Jul 2025
Source: Statifacts
The US nuclear power market size was estimated at USD 425.01 billion in 2024 and is expected to increase around USD 515.05 billion by 2034, growing at a CAGR of 1.94% from 2025 to 2034.
| Reports Attributes | Statistics |
| Market Size in 2024 | USD 425.01 Billion |
| Market Size in 2025 | USD 433.26 Billion |
| Market Size in 2032 | USD 495.63 Billion |
| Market Size by 2034 | USD 515.05 Billion |
| CAGR 2025 to 2034 | 1.94% |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
The U.S. nuclear power market is essential for its ability to offer a large, reliable, as well as low-carbon source of electricity, leading to energy security and climate goals. It's a key element in the transition to a cleaner energy system and, in addition, plays a role in decreasing reliance on fossil fuels. Nuclear power provides energy security by offering a stable and reliable electricity supply, together with independence of fluctuating fossil fuel costs and geopolitical events.
It can help ensure a stable and reliable electricity grid, mainly as the world transitions to a more sustainable energy system. The expense of nuclear power can be decreased by finalizing designs before construction, along with building multiple units at the same site, and guaranteeing stable regulatory frameworks.
AI is already transforming nuclear operations. Each reactor brings out billions of pages of operational information. AI can digitize and determine these archives, optimizing fuel cycles, streamlining regulatory compliance, and improving safety via predictive maintenance. Even the U.S. Nuclear Regulatory Commission stands to benefit from AI-based tools. Right now, licensing acceptances for new nuclear projects are slowed by fragmented, paper-based systems. AI could streamline these processes by digitizing regulatory records, improving their searchability, decreasing bureaucratic bottlenecks, and speeding up the deployment of advanced reactors.
Nuclear energy offers a reliable, low-emission source of electricity, leading to energy independence as well as economic expansion, while also serving as a strategic advantage that improves a nation's energy security. Nuclear power plants offer a consistent and predictable electricity supply, making them a reliable source for both base-load power as well as supporting the incorporation of intermittent renewable energy sources. Nuclear power plants are basically a strategic asset, offering a reliable domestic energy source that is less susceptible to geopolitical instability, in addition to supply disruptions. Nuclear power plants usually incorporate developed technologies, leading to a nation's technological capabilities, together with expertise.
High upfront capital costs are considered a major obstacle to the expansion of the U.S. nuclear power market. These expenses, including the cost of financing together with construction, can be prohibitive, contributing to project delays, cancellations, as well as a reluctance among investors to fund the latest nuclear power plants. The expense of borrowing money to capitalize on the project can be substantial, mainly given the long construction timelines and the demand to service the debt prior to the plant becoming operational. The fusion of high upfront costs, extensive construction times, and the potency for expense overruns can deter investors from supporting new nuclear projects. This is mostly true in competitive electricity markets where other, or less capital-intensive energy origins, may be more attractive.
Advancements in nuclear technology, mainly with small modular reactors (SMRs) and developed reactors, are opening the latest avenues for the growth of the nuclear power market in the United States. Advanced reactors, like fast reactors, can potency be more efficient in addition to extracting more energy from nuclear fuel, targeting concerns about waste management. Nuclear power is a clean energy source, emitting virtually no greenhouse gases during operation, making it a valuable tool in combating climate change. Investments in nuclear power can provoke economic expansion in local communities and lead to national energy security.
“Last year, Constellation announced a plan to restart the Crane Clean Energy Center became national news, but despite all of the interest and overwhelming support, a key question was missed: why did we let such a valuable plant close in the first place? We all know that the closure costs our community jobs, tax revenue, more pollution and higher prices,” said Joe Dominguez, president and CEO, Constellation. “We are proud to partner with Meta because they asked that important question, and even better, they figured out that supporting the relicensing and expansion of existing plants is just as impactful as finding new sources of energy. Sometimes the most important part of our journey forward is to stop taking steps backwards.”
“I want to congratulate each of these outstanding nuclear professionals as they take on their new roles. I also want to thank them for their many contributions in their former roles,” said John Dinelli, Entergy Nuclear chief operating officer. “Entergy values empowerment and engagement across our workforce, and the fact that our people can step into new and important roles is critical to our continued success.”
“More than ever, clean, baseload nuclear power is essential to our country’s energy mix, and this achievement is a significant step forward for not only the resiliency of the entire U.S. operating fleet, but future nuclear technologies,” said Southern Nuclear Chairman, President and CEO Pete Sena. “Our goal is to operate our units for longer periods with higher output, and with higher enriched fuel, we’re even better positioned to meet the growing energy demands of the state of Georgia.”
The nuclear fusion segment dominated and is expected to sustain the position as the fastest-growing in the U.S. nuclear power market in 2024. Nuclear fusion, holding huge potential for clean energy, is, however, in the research and development phase. This includes repairs, maintenance, and operational funding for existing nuclear power plants. As many nuclear reactors in the United States are reaching or have surpassed their initial 40-year operating licenses, the demand for upgrades, decommissioning services, and life extensions is rising, fueling the expansion.
The nuclear fission segment shows a notable growth in the U.S. nuclear power market during the forecast period. The US nuclear power industry has remarkably raised electricity generation from existing plants, targeting this via better refueling, safety systems, and maintenance. The industry's target has shifted towards expanding the operating licenses of existing plants as well as enhancing their efficiency, rather than building new ones. There has been a close halt to new nuclear plant construction in the United States for over 30 years, mainly due to high costs, public perception, and regulatory hurdles following incidents such as Three Mile Island and Chernobyl.
The pressurized water reactors (PWRs) segment dominated the U.S. nuclear power market in 2024. PWRs have been the backbone of the U.S. nuclear power industry for almost ten years, with many operational reactors. PWRs are called for their safety features, lower risk of radioactive contamination, and high thermal efficiency creates a preferred alternative for large-scale power generation. PWR technology is also utilized in naval propulsion systems, thus solidifying its position in the market.
The large reactors segment dominated the U.S. nuclear power market in 2024. Large reactors, mainly PWRs, have been the governing technology in the United States. PWRs are favored for their safety features, lower risk of radioactive contamination, and thermal efficiency. Large reactors, mainly those above 1,000 MW, however, account for a substantial portion of the market. Instances include the Westinghouse AP1000 PWRs utilized in the Vogtle 3 and 4 units under construction.
The small modular reactors (SMRs) segment is the fastest-growing in the U.S. nuclear power market during the forecast period. Small modular reactors represent a rising segment of the market, providing potential advantages in expense, safety, and deployment flexibility. Companies such as NuScale and GE Hitachi are actively advancing small modular reactor technology. Factors such as lower expenses, enhanced safety features, and the potency for deployment in different locations are boosting interest in small modular reactors. Ongoing research and development, along with government support via tax credits and loan guarantees, are also leading to the expansion of the small modular reactors market.
The energy segment dominated the U.S. nuclear power market in 2024. Nuclear energy is predominantly utilized to generate electricity for the power grid, serving businesses, homes, and industries. The growing need for electricity, mainly from data centers, is driving the demand for reliable and clean energy sources, where nuclear power can help meet this demand for electricity. Nuclear power offers a substantial section of the U.S.'s emission-free electricity, considering it a major player in the transition to cleaner energy sources.
The U.S. nuclear power market is dominated by well-known players such as NextEra Energy Inc. and Exelon Corporation, with remarkable contributions to regional utilities in close collaboration with government entities. Government support via tax credits, R&D funding, and loan guarantees is vital for the sector's expansion. Federal and state governments are offering crucial support via financial incentives, initiatives, and research funding targeted at rebuilding the nuclear fuel supply chain.
Constellation Energy tackles a competitive landscape dominated by a mix of conventional energy firms, renewable energy developers, as well as evolving technologies. Its nuclear-aimed strategy positions it well in the shove for carbon-free energy, but it must also negotiate regulatory risks as well as competition from other power sources.
Southern Nuclear operates in a competitive landscape featured by well-known players in the nuclear energy field, evolving technologies such as Small Modular Reactors (SMRs), and the ongoing demand for sustainable energy solutions. Companies specializing in decommissioning services tackle challenges related to the high expenses and complex processes involved in decommissioning nuclear facilities.
Entergy tackles a competitive landscape in the nuclear power market, challenging other energy sources, which include renewables and other nuclear power manufacturers. The firm also competes with itself, as it handles both nuclear and non-nuclear power generation, distribution, transmission, and retail sales. Furthermore, Entergy functions in a deregulated market, which means it must challenge customers and handle the expenses associated with its nuclear fleet.
Published by Shubham Desale
