Global Nuclear Fuel Market (2023 Edition)

Global Nuclear Fuel Market Factbook (2023 Edition): Analysis By Fuel Type (Uranium Fuel, Mixed Oxide), Reactor Type (BWR, PWR, Others), By Region, By Country: Market Insights and Forecast (2019-2029)

Executive Summary

Azoth Analytics has released a research report titled “Global Nuclear Fuel Market Factbook (2023 Edition)” which provides a complete analysis of the Global Nuclear Fuel industry in terms of market segmentation By Fuel Type (Uranium Fuel, MO Nuclear Fuel), Reactor Type (Boiling Water Reactor, Pressurized Water Reactor, Others), By Region (North America, Europe, Asia-Pacific, ROW), and By Country for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.

The research report covers a detailed analysis of the regions (North America, Europe, APAC, Rest of the World) and 16 countries (United States, Canada, United Kingdom, Russia, Germany, France, Italy, China, Japan, India, South Korea, Brazil, Argentina, Mexico, UAE, Saudi Arabia). Additionally, the research report presents data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities and demand forecast.

The research report also assesses growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution.

Global Nuclear Fuel Market attained a market value of USD 11.7 Billion in 2022. Demand for nuclear continues to increase as the transition to clean energy gains momentum and energy security becomes of increasing importance. At the same time, uranium supply sits near a decade low, and geopolitical tensions continue to rewire global supply chains.

Conventional demand for uranium remains extremely robust. Global nuclear capacity currently stands at ~394 Gwe from 437 operable reactors and there are currently 60 new reactors under construction in 18 countries. Nuclear power is no longer sitting on the sidelines of international energy and climate change conversations, it is increasingly being viewed as critical to global decarbonization and energy security.

While the strong demand outlook persisted in 2022, primary mine supply remained under pressure. Production out of Kazakhstan was impacted by ongoing supply chain issues related to COVID-19, as difficulties procuring materials resulted in delayed well-field development in 2021 (eight-to-ten-month lag between development and production).

In 2022, rising concerns around energy security motivated a record number of nuclear power plant restarts, extensions and new build announcements, all of which add incremental demand to the market forecast. Through 2035, uranium demand growth will be ~3.0% PA.

Scope of the Report

• The report analyses the Nuclear Fuel Market by Value (USD Million)
• The report presents the analysis of the Nuclear Fuel Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Nuclear Fuel Market by Fuel Type (Uranium Fuel, MO Nuclear Fuel).
• The report analyses the Nuclear Fuel Market by Reactor Type (Boiling Water Reactor, Pressurized Water Reactor, Others).
• The research report has been analysed by region (North America, Europe, APAC, Rest of the World) and countries (United States, Canada, United Kingdom, Russia, Germany, France, Italy, China, Japan, India, South Korea, Brazil, Argentina, Mexico, UAE, Saudi Arabia)
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by services, by mode of operation & by end users.
• The major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Areva S.A., ARMZ Uranium Holding Company, Cameco Corp, China National Nuclear Corp, Eagle Plains Resources, Energy Resources of Australia Ltd, Japan, Oil, Gas and Metals National Company, Kazatomprom, Paladin Energy, and Vattenfall Group.