Technology Trends and Advancements in Nuclear Energy Utilization

Technology Trends and Advancements in Nuclear Energy Utilization

Globally, low-carbon energy resources are increasingly critical to combat climate change and ensure adherence to the Paris Climate Summit declarations, especially net zero carbon emissions targets. Nuclear energy can play a critical role due to its high energy density, low land footprint compared to renewable energy sources, and cost competitiveness with fossil-fueled power plants. However, there have long been concerns surrounding the safety of nuclear power plants. This has prompted industry players to make continuous changes in plant design to enhance the safety profile of reactors. There are also significant R&D efforts in plant miniaturization, notably the development of small modular reactors, to make nuclear energy a key tool in decarbonizing the energy and industrial sector. The nuclear industry is also gearing up for its next growth phase by developing Generation IV reactors, which involve changes in the working fluid, coolants, operating temperatures, and power output, among others. With the recent downturn in geopolitical stability in Europe, high natural gas prices, and efforts to ensure energy security, nuclear power is set to record strong growth in upcoming years. The study describes the major technology trends, growth drivers, and restraints in next-generation nuclear energy technologies. It also offers a detailed growth opportunity analysis and explores the key stakeholders developing advanced nuclear plant designs, including Generation III – III+ and Generation IV reactors. The study analyzes the global patent landscape for nuclear fission technologies and highlights the main patent owners/applicants and major research areas.