North America Nuclear Power Plant Equipment Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2035)
North America Nuclear Power Plant Equipment Market: by Type (Reactor Pressure Vessel, Reactor Coolant Pumps, Turbine Generators, Steam Generators, Instrumentation & Control Systems, Valves), Application (Pressurized Water Reactor, Boiling Water Reactor, Pressurized Heavy Water Reactor, Gas Cooled Reactor, Fast Breeder Reactor, Others), Distribution Channels (Direct Sales, Distributors/Dealers, E-commerce, EPC Contractors, Third-party Suppliers, Others), Technology (Generation I, Generation II, Generation III, Generation IV, Small Modular Reactors, Advanced Reactors), Organization Size (Small, Medium, Large) and By North America Historical & Forecast Period (2020-2035) Comprehensive Study 2025
Last Updated: 23-07-2025 | Format: PDF | Report ID:10798 | Author: Alice
North America Nuclear Power Plant Equipment Market (2025-2035)
The North America Nuclear Power Plant Equipment Market is experiencing considerable expansion, driven by a resurgence in nuclear energy strategies and rising energy security concerns. As economies accelerate their decarbonization goals and seek to ensure a stable, low-carbon power supply, nuclear energy investments are revitalizing both new builds and plant modernization projects. In 2025, the market size is forecasted to surpass USD 10,800 Million, advancing at a CAGR of 5.9% through 2035. The sector is seeing a pronounced push towards Generation III and IV reactor installations and increasing adoption of small modular reactors (SMRs). Leading players are focusing on technological advancement, digital integration, and strategic partnerships to enhance operational efficiency and safety standards, keeping the region at the forefront of nuclear innovation.
Latest Market Dynamics
Key Drivers
Government support and incentives for nuclear energy expansion continue to drive equipment demand. In May 2024, the U.S. Department of Energy announced an additional $2.5 billion investment for advanced reactor demonstration projects, significantly boosting the market outlook.
Advancements in SMR technology and deployment across North America act as a catalyst. Westinghouse, in June 2024, secured a major contract for SMR deployment in Canada, indicating robust growth in compact, flexible nuclear technology.
Key Trends
Digitalization and automation are shaping the market, with Siemens AG introducing advanced digital control systems for plant upgrades across the U.S. in July 2024, enhancing safety, reliability, and performance.
Focus on clean and sustainable energy production remains a major trend, as Areva collaborated with U.S. utilities in August 2024 to integrate Generation IV capabilities enhancing efficiency and reducing waste.
Key Opportunities
Expansion of Generation IV and advanced reactor projects provides high-value opportunities, highlighted by GE Hitachi’s June 2024 agreement to deliver next-gen reactors to U.S. utilities.
Increased refurbishment and lifetime extension of legacy plants, with Babcock & Wilcox landing contracts in July 2024 for upgrades, create sustained equipment demand.
Key Challenges
Stringent regulatory and safety requirements lead to prolonged project timelines. For example, Mitsubishi Heavy Industries in July 2024 reported extended regulatory review for their next-gen reactor pilot in the U.S.
Skilled labor shortages in nuclear engineering persist, as identified in a Siemens AG workforce report in May 2024, complicating project execution schedules.
Key Restraints
High capital costs and financing barriers, as noted by the delay in Fluor Corporation’s Texas plant upgrade in June 2024, restrict wider adoption in some regions.
Public concern over nuclear safety and waste disposal, highlighted by Greenpeace-driven protests in Canada in August 2024, impact policy and local acceptance.
Reactor Pressure Vessel is projected to dominate the equipment segment in 2025 with 34% share, reflecting vital investments in core reactor components. Turbine Generators follow at 29%, driven by modernization in power generation sections, and Steam Generators account for 17%. The remaining 20% includes Instrumentation & Control Systems, Reactor Coolant Pumps, and Valves, all crucial for operational reliability and safety. The high share of core reactor and power generation equipment demonstrates ongoing focus on both capacity addition and operational upgrades in North American nuclear facilities.
The Pressurized Water Reactor (PWR) segment leads in application share in 2025, holding 41% of the market. Boiling Water Reactors (BWR) maintain a substantial 27% share, primarily due to ongoing modernization and safety retrofits. Advanced reactor types, including Pressurized Heavy Water, Gas Cooled, and Fast Breeder Reactors, collectively represent 32%, as new builds and pilot projects gather pace. The continued reliance on PWRs reflects their entrenched operational base, while interest in advanced reactors signals future diversification.
The North America Nuclear Power Plant Equipment Market shows consistent revenue growth, starting at USD 8,700 Million in 2021 and reaching an anticipated USD 10,800 Million in 2025. Projections indicate a steady increase, targeting USD 19,200 Million by 2035. This rise is anchored in new reactor installations, aging plant upgrades, and long-term government support. The revenue trajectory aligns with expanding decarbonization mandates and the addition of Generation III and IV reactors, coupled with specialty equipment demand for SMRs and plant digitization.
Year-over-year (YOY) growth in the North America Nuclear Power Plant Equipment Market is forecasted to average 5.9% between 2025 and 2035. Peak growth years are seen in 2026 (6.2%) and 2030 (6.5%), coinciding with major policy initiatives, next-gen reactor roll-outs, and plant life-extensions. Growth stabilizes post-2030, as the market enters a mature, innovation-driven phase with sustained investments in safety and automation upgrades.
The United States commands the largest regional market share at 72%, reflecting a broad base of existing reactors, ongoing life extension projects, and investment in new SMRs. Canada follows with 22%, buoyed by advanced reactor deployments and major equipment contracts. Mexico accounts for a steady 6%, anchored by modernization and strategic capacity expansions. This regional split underscores the United States' sustained leadership in nuclear energy, while Canada accelerates technological upgrades.
Westinghouse Electric leads the North America market with 23% share, driven by a broad technology portfolio and continuous SMR developments. GE Hitachi holds 15%, followed closely by Siemens AG at 12%. The remaining 50% is distributed among other global and regional players like Mitsubishi Heavy Industries, Babcock & Wilcox, and BWX Technologies, whose specialized offerings address specific plant needs. This competitive landscape reflects both market depth and the growing role of collaborative innovation.
Utility companies remain the principal buyers of nuclear power plant equipment, making up 62% of market demand in 2025. EPC contractors account for 22%, reflecting complex project management and integration needs. Government agencies and others comprise 16%, relating to state-owned assets and demonstration projects. This segmentation highlights the dominant purchasing role of utilities, while the influence of EPCs grows with the rise of new-build initiatives and plant modernization.
Study Coverage
Metrics
Details
Years
2020-2035
Base Year
2025
Market Size
Revenue (USD Million)
Regions
United States, Canada, Mexico
Segments
By Type (Reactor Pressure Vessel, Reactor Coolant Pumps, Turbine Generators, Steam Generators, Instrumentation & Control Systems, Valves), By Application (Pressurized Water Reactor, Boiling Water Reactor, Pressurized Heavy Water Reactor, Gas Cooled Reactor, Fast Breeder Reactor, Others), By Distribution Channels (Direct Sales, Distributors/Dealers, E-commerce, EPC Contractors, Third-party Suppliers, Others), By Technology (Generation I, Generation II, Generation III, Generation IV, Small Modular Reactors, Advanced Reactors), By Organization Size (Small, Medium, Large)
June 2024: Westinghouse secures SMR deployment contract valued at USD 650 Million with Ontario Power Generation.
July 2024: Siemens AG rolls out advanced nuclear digital control upgrades at U.S. Exelon Generation sites.
June 2024: GE Hitachi partners with TVA for Generation IV reactor deployment under USD 500 Million project.
August 2024: Areva collaborates with U.S. utilities for integration of high-efficiency Generation IV reactor modules.
July 2024: Babcock & Wilcox receives USD 250 Million contract for reactor refurbishment at a U.S. Duke Energy facility.
Frequently Asked Questions
About the Author
Alice
Senior Research Consultant
Alice is a Senior Research Consultant specializing in market research, industry analysis, and business consulting across Energy & Power. Alice brings a commercially grounded perspective to sectors shaped by changing demand, innovation, and competitive dynamics, helping turn complex market trends into clear strategic insights for business decision-makers. With 10+ years of experience across research, analytics, and strategic advisory roles, Alice has helped organizations translate data into actionable growth strategies.
Energy & PowerMarket ResearchIndustry AnalysisStrategic Consulting
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