North America Nuclear Reactor Construction Market is Expected to grow at a robust CAGR of 2.15% through 2030F
The
North America nuclear reactor construction market is expected to be led by the
United States, driven by strong government support, technological advancements,
and increasing demand for clean energy, during the forecast period 2026-2030F.
According
to TechSci Research report, “North
America Nuclear Reactor Construction Market – By Country, Competition, Forecast
& Opportunities, 2020-2030F", The North America Nuclear Reactor
Construction Market was valued at USD 19.35 Billion in 2024 and is expected to
reach USD 21.99 Billion by 2030 with a CAGR of 2.15% during the forecast period.
The
increasing use of nuclear energy for industrial decarbonization and hydrogen
production is a powerful force accelerating nuclear reactor construction in
North America. As governments and industries work toward aggressive climate
commitments, sectors such as chemicals, cement, and steel—which account for a
large share of industrial emissions—require reliable, high-temperature,
low-emission energy sources. Nuclear reactors, particularly advanced models,
are uniquely suited for this purpose, capable of delivering both electricity
and process heat at the scale necessary for heavy industrial operations.
Nuclear
energy is emerging as a leading contender for clean hydrogen production through
high-temperature electrolysis and thermochemical processes. Given hydrogen’s
pivotal role in decarbonizing transportation, manufacturing, and energy
storage, nuclear-powered hydrogen production offers a zero-carbon solution with
high output efficiency. Policymakers in the United States and Canada are
aligning national hydrogen strategies with nuclear energy deployment, signaling
a clear intention to integrate reactor projects with broader industrial
decarbonization pathways. Energy companies and industrial conglomerates are
responding by forming joint ventures and pilot projects focused on
nuclear-enabled hydrogen hubs and heat supply systems.
Notably,
Idaho National Laboratory is spearheading several demonstration projects that
integrate small modular reactors into industrial and hydrogen supply chains.
This alignment of environmental policy, industrial demand, and nuclear
capability is creating a new rationale for reactor construction that goes well
beyond traditional electricity generation. As the economics of nuclear-powered
hydrogen improve and industrial customers seek long-term emission reductions,
the demand for purpose-built nuclear facilities will continue to grow. These
facilities, designed with dual output capacity, are expected to be among the
most strategically significant reactor projects in the coming years.
A
key trend shaping the North America nuclear reactor construction market is the
increasing use of government incentives to stimulate investment in new nuclear
infrastructure as part of broader clean energy and decarbonization strategies.
Both the United States and Canadian federal governments have introduced a range
of financial and policy mechanisms to encourage the construction of new nuclear
reactors, including tax credits, loan guarantees, direct funding for research
and development, and regulatory reform initiatives. These incentives are aimed
at reducing the financial barriers traditionally associated with nuclear
construction, such as high capital expenditure and long payback periods, while
promoting the role of nuclear energy in achieving climate targets. The
inclusion of nuclear power as a qualifying technology under clean energy
investment frameworks—such as those embedded in the United States Inflation
Reduction Act—has elevated the sector’s profile among energy planners and
infrastructure investors.
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Based
on Application, Desalination & Process Heat applications are rapidly
emerging as the fastest-growing segment in the North America Nuclear Reactor
Construction Market. This growth is primarily driven by the increasing demand
for fresh water and the need for reliable, low-emission solutions to support
industrial processes. Nuclear reactors, particularly small modular reactors,
are being increasingly considered for desalination purposes due to their
ability to provide a consistent and stable energy supply, which is crucial for
energy-intensive desalination plants. With growing concerns over water scarcity
in several parts of North America, the adoption of nuclear-powered desalination
systems is seen as a promising solution to meet both potable water and
industrial water needs.
The
need for process heat in industries such as petrochemicals, refining, and
manufacturing has spurred interest in nuclear reactors as a viable, clean
energy source. The ability to generate high-temperature steam for industrial
processes with low carbon emissions aligns with North America's sustainability
and decarbonization goals. As global demand for clean, reliable water and
industrial heat increases, nuclear reactors are poised to play a pivotal role
in addressing these needs. This trend is expected to continue expanding
throughout the forecast period as governments and industries prioritize energy
security and environmental responsibility.
Based
on country, Mexico is
rapidly emerging as the fastest-growing country in the North America nuclear
reactor construction market, driven by its increasing energy demands and
commitment to sustainable development. The country is actively exploring
nuclear energy as a solution to reduce its dependence on fossil fuels and
diversify its energy mix.
With
significant investments in nuclear infrastructure, including the expansion of
existing plants and the potential for new reactor projects, Mexico is
positioning itself as a key player in the region. Government initiatives aimed
at enhancing energy security, along with advancements in nuclear technology,
are further accelerating growth. Mexico’s push toward reducing carbon emissions
aligns with its nuclear energy expansion, fostering a favorable environment for
future reactor construction.
Key
market players in the North America Nuclear Reactor Construction market are: -
- Bechtel
Corporation
- Westinghouse
Electric Company LLC
- Fluor
Corporation
- Kiewit
Corporation
- Siemens
AG
- Toshiba
Corporation
- McDermott
International, Ltd.
- Larsen
& Toubro Limited
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“The
North America Nuclear Reactor Construction Market is poised for significant
growth in the future, driven by increasing demand for clean, reliable energy
sources and advancements in nuclear technology. The adoption of small modular
reactors, alongside large-scale reactor projects, will expand capacity while
reducing environmental impacts. Governments are prioritizing energy security
and decarbonization, fueling investments in nuclear infrastructure. Applications
like desalination, process heat, and industrial energy are gaining traction. As
regulatory environments evolve and public acceptance increases, nuclear energy
will play a pivotal role in North America's transition to sustainable energy,
supporting long-term economic and environmental goals.” said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based Global management
consulting firm.
“North America Nuclear Reactor Construction Market
By Reactor Type (Pressurized Water Reactors, Boiling Water Reactors, Advanced
Reactors), By Application (Baseload Electricity Generation, Desalination &
Process Heat, Marine Propulsion, Others), By Country, Competition, Forecast and
Opportunities, 2020-2030F,”
has evaluated the future growth potential of North America Nuclear Reactor
Construction Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in North America Nuclear
Reactor Construction Market.
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