Nuclear Steam Generator Market is expected to Grow with a CAGR of 6.09% through 2030
The nuclear steam generator
market is driven by increasing demand for clean, reliable, and large-scale
energy production, coupled with rising investments in nuclear power
infrastructure to meet growing global electricity needs.
According to TechSci Research
report, “Nuclear Steam Generator Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2030F”, the Nuclear Steam Generator Market was valued at USD 4.94 Billion in 2024 and is expected to reach USD 7.11 Billion by 2030 with a CAGR of 6.09%. The global nuclear steam
generator market is being strongly driven by the increasing demand for
reliable, low-carbon, and large-scale energy production to meet rising
electricity consumption while reducing greenhouse gas emissions, positioning
nuclear power as a strategic energy option for both developed and emerging
economies. Nuclear steam generators, as critical components of pressurized
water reactors, play a central role in ensuring safe and efficient thermal
energy conversion, and their demand is underpinned by multiple interconnected
factors.
Growing urbanization,
industrialization, and electrification across sectors such as manufacturing,
transportation, and digital infrastructure are amplifying the requirement for
uninterrupted power supply, driving governments and utilities to expand nuclear
capacity as a dependable baseload energy source. Furthermore, as nations commit
to ambitious carbon neutrality and climate targets, nuclear power is
increasingly recognized as a key solution to bridge energy demand while
minimizing environmental impact, directly fueling investments in nuclear
infrastructure and the replacement or upgrading of aging steam generator units.
Many existing nuclear power plants are approaching the end of their design
life, creating a surge in demand for steam generator replacements to extend
operational lifespans, enhance safety, and comply with stricter regulatory
standards.
At the same time, the
development of advanced nuclear reactor technologies, including small modular
reactors (SMRs) and Generation III+ designs, is creating new opportunities for
steam generator manufacturers to deliver more compact, efficient, and durable
systems that support evolving energy strategies. The nuclear industry is also
witnessing a wave of modernization programs focused on improving reactor
efficiency and resilience, which directly translates to higher demand for
high-performance steam generators. Additionally, increased energy security
concerns and geopolitical dynamics are encouraging nations to diversify energy
sources and reduce dependency on fossil fuels, with nuclear energy offering a
strategic advantage, further stimulating market growth.
Technological advancements in
materials, design, and manufacturing processes are improving the durability,
corrosion resistance, and operational safety of steam generators, enabling
utilities to achieve longer maintenance cycles and reduced operating costs,
strengthening the business case for nuclear investments. Moreover, rising
collaboration between governments, research institutions, and private sector
companies is promoting innovation and international cooperation in nuclear
power projects, thereby creating a stable pipeline of steam generator demand.
The healthcare and industrial
sectors, which rely on nuclear energy for both electricity and isotopes, also
contribute to market expansion, as stable nuclear operations depend on
high-quality steam generators. Altogether, the convergence of climate commitments,
energy security needs, technological progress, and the replacement of aging
infrastructure forms a robust foundation for sustained growth in the nuclear
steam generator market, positioning it as a critical enabler in the transition
toward a cleaner and more resilient global energy mix.
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Figures spread through XX Pages and an in-depth TOC on the "Global Nuclear Steam Generator Market.”
Based on the Design Type, Once-Through
Steam Generators (OTSGs) segment held the largest Market share in 2024. The
Once-Through Steam Generators (OTSGs) segment is emerging as a major driver in
the nuclear steam generator market, propelled by the growing global demand for
safer, more efficient, and compact nuclear power systems capable of meeting
rising electricity needs while supporting decarbonization goals. Unlike
traditional designs, OTSGs eliminate the recirculation of water, enabling a
single-pass heat exchange process that results in reduced size, lower weight,
and simplified operations—characteristics that align perfectly with the ongoing
trend toward small modular reactors (SMRs) and advanced nuclear technologies.
The compact nature of OTSGs
allows for easier installation in constrained environments and supports modular
deployment, making them highly attractive to both developed and developing
economies seeking scalable nuclear power options. In addition, the enhanced
thermal efficiency and lower maintenance requirements of OTSGs contribute to
reduced lifecycle costs, an increasingly important factor as utilities and
governments look to optimize investment in nuclear infrastructure. The inherent
safety advantages of OTSGs, such as reduced water inventory and simplified
design that lowers the risk of tube failures, further enhance their appeal in a
market where safety compliance and regulatory approvals are stringent.
Moreover, the segment is
supported by the rising adoption of nuclear energy as part of clean energy
portfolios, with countries prioritizing nuclear as a low-carbon baseload source
to balance intermittent renewables. OTSGs also find increasing application in
pressurized water reactors (PWRs) and are being integrated into next-generation
reactor concepts, broadening their commercial potential. The ability of OTSGs
to operate under higher pressures and temperatures not only improves power
plant performance but also supports flexible operations, which is becoming
critical in modern grids characterized by fluctuating demand and renewable
integration. Growing investments in nuclear modernization, coupled with life
extension projects for existing plants, further drive demand for advanced steam
generator technologies that can enhance efficiency while meeting new safety
standards.
The international push for
energy security and diversification of supply also adds momentum, with several
nations accelerating nuclear programs to reduce reliance on fossil fuels and
imported energy. Additionally, the technological edge of OTSGs provides
opportunities for co-generation and district heating applications, expanding
their utility beyond electricity generation. As nuclear power infrastructure
evolves to meet the dual challenges of climate change and energy demand, OTSGs
are gaining traction as the preferred solution for operators and developers
seeking compact, reliable, and cost-effective steam generation systems. This
strong alignment with global energy trends ensures that the OTSG segment
continues to play a pivotal role in driving growth and innovation within the
nuclear steam generator market, positioning it as a cornerstone technology in
the future of nuclear energy.
Based on region, Asia Pacific
is emerging as the fastest-growing region in the nuclear steam generator
market, driven by increasing investments in nuclear energy to meet rising power
demand and reduce dependence on fossil fuels. Countries across the region are
expanding their nuclear power programs to support long-term energy security and
sustainability goals. The need for advanced steam generators is further
amplified by large-scale infrastructure projects, modernization of existing
nuclear plants, and government-backed clean energy initiatives. With rapid
industrialization, urbanization, and a strong focus on low-carbon energy
solutions, Asia Pacific offers substantial opportunities for growth and
innovation in the nuclear steam generator market.
Major companies operating in
the Global Nuclear Steam Generator Market are:
- Mitsubishi Heavy Industries
Ltd
- Westinghouse Electric Company
LLC
- BWX Technologies Inc.
- Framatome
- Hitachi-GE Nuclear Energy Ltd
- Babcock & Wilcox
Enterprises Inc.
- China National Nuclear
Corporation (CNNC)
- Rosatom Corp.
- Bharat Heavy Electricals
Limited (BHEL)
- Doosan Corp.
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“The Global Nuclear Steam
Generator Market is expected to rise in the upcoming years and register a
significant CAGR during the forecast period. The nuclear steam generator market
offers considerable growth opportunities, supported by the accelerating global
transition toward clean and sustainable energy. Rising investments in nuclear
power infrastructure to meet decarbonization targets are driving strong demand
for high-performance and reliable steam generators. Significant potential lies
in the replacement and modernization of aging assets, where next-generation
systems deliver enhanced safety, operational efficiency, and extended service
life. Furthermore, nuclear expansion initiatives in emerging economies are
opening new avenues for deployment. Advancements in materials technology,
digital monitoring, and predictive maintenance solutions position the market
for continued innovation and long-term value creation across global energy
landscapes. Therefore, the Market of Nuclear Steam Generator is expected to
boost in the upcoming years.,” said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based global management consulting firm.
“Nuclear
Steam Generator Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented, By Reactor Type (Pressurized Water Reactors (PWRs),
Boiling Water Reactors (BWRs), CANDU Reactors, Advanced Gas-cooled Reactors
(AGRs), Sodium Fast Reactors (SFRs)), By Material (Alloy 800H, Alloy 690TT,
Stainless Steel 316L, Titanium Alloys, Nickel Alloys), By Design Type
(Once-Through Steam Generators (OTSGs), U-Tube Steam Generators (UTSGs),
Helical-Coil Steam Generators (HCSGs), Compact Steam Generators (CSGs)), By
Region, By Competition, 2020-2030F”, has evaluated the future growth potential of Global Nuclear
Steam Generator Market and provides statistics & information on the Market
size, structure, and future Market growth. The report intends to provide
cutting-edge Market intelligence and help decision-makers make sound investment
decisions., The report also identifies and analyzes the emerging trends along
with essential drivers, challenges, and opportunities in the Global Nuclear
Steam Generator Market.
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