Group Projects 100-Gw Rise In Global Nuclear Power Capacity Across Next Decade

A new report from GlobalData, a data and analytics group, projects global nuclear power capacity will hit 494 GW by 2035. The group’s “Nuclear Power Market, Update 2025–Market Size, Segmentation, Major Trends, and Key Country Analysis to 2035” said capacity gains will be tied to advancements in deployments of small modular reactors (SMRs), along with the continuing worldwide shift to cleaner forms of energy.

The report released April 21 said recent gains in nuclear power have been driven by moves toward more low-carbon baseload power. Measures promoting energy security, in addition to interest in decarbonization of industrial sectors, also is supporting increased use of nuclear power, according to GlobalData.

The group said the increase in capacity to 494 GW over the next 10 years is about a 100-GW increase from the 2024 level of 395 GW. GlobalData said power generation from nuclear will rise from 2,616 TWh in 2024 to 3,410 TWh in 2035, a compound annual growth rate, or CAGR, of 2%. The group said nuclear power at present accounts for about 9% of the world’s electricity production. The report also notes that countries with older reactors are still pursuing extensions to those units’ operating licenses, and some countries—notably China and other Asian nations—are expanding their nuclear power fleets.

“The growing focus on energy security due to geopolitical tensions, increasing demand for low-carbon dispatchable power, government support through regulations and incentives such as grants, loan guarantees, production and investment tax credits (PTCs and ITCs), and market-based mechanisms like Contracts for Difference (CfDs), advancements in SMRs and next-gen technologies, and a surge in electricity demand from data centers are the major reasons behind the increasing adoption of nuclear energy worldwide,” said Mohammed Ziauddin, a power analyst at GlobalData, in comments about the report.

The U.S., which relies on nuclear power for about 18% of its power generation, leads the world with 97 GW of installed generation capacity, and had 787.6 TWh of generation last year. That figure was helped by two new reactors at Plant Vogtle in Georgia, the first utility-scale units built in the U.S. in decades.

France ranks second with 61.4 GW of installed capacity, and nuclear’s share of power generation in that country is more than 60%. GlobalData said France has 333.3 TWh of annual nuclear power output.

China’s generation capacity is about 56 GW, producing 386.1 TWh. The U.S. Energy Information Administration (EIA) said China, which has at least 55 operating reactors, with another two dozen or so under construction, has added more than 34 GW of nuclear generation capacity in the past decade.

Nuclear power analysts who have spoken with POWER have continually touted the promise of SMRs, which due to their smaller size (typically 300 MW or less) could be deployed more quickly than traditional reactors and in more locations. Companies working on SMR designs also have noted advanced safety features, and significant cost savings compared to traditional nuclear power plants because SMRs can be fabricated in factories, transported, and then assembled on-site.

Eric Packer, senior vice president of Strategic Initiatives at Rexel USA, one of the largest electrical distribution companies in the U.S., recently told POWER: “The opportunity for our industry in the data center space is tremendous. With the acceleration of artificial intelligence (AI), ultramodern data centers require an ultra-high-density foundation, optimizing space and presenting the ideal solution for companies aiming to scale their AI infrastructure efficiently and effectively. Additionally, the incredible growth demand for data centers and issues of power availability are leading data center providers to explore microgrids and nuclear small modular reactors.”

GlobalData on Monday said more than 100 SMRs are in various stages of development worldwide, though only a few are currently operational, most notably Russia’s floating nuclear power plant (FNPP) Akademik Lomonosov. The ship is equipped with two KLT-40S reactors, with power capacity of 70 MW.

China National Nuclear Corp. in late 2023 said it had started commercial operation of a high-temperature gas-cooled modular pebble bed (HTR-PM) reactor demonstrator. The HTR-PM project, with two small reactors driving a single 210-MW turbine, was built in Rongcheng, Shandong Province, about midway between Beijing and Shanghai in eastern China.

The group said SMR deployment, particularly in China and Russia, is expected to bring more than 10,000 MW of SMRs online in the next decade.

“With growing concerns over climate change and energy security, nuclear power has re-emerged as a crucial pillar in the global energy transition,” said Ziauddin. “Governments across the world are implementing ambitious net-zero targets and investing in clean, dispatchable energy sources to decarbonize their economies. Nuclear energy, with its ability to provide reliable baseload power and reduce dependency on fossil fuels, is playing a vital role in this transition.”

“As countries ramp up their focus on SMRs, lifetime extensions, and advanced nuclear technologies, the nuclear power market is poised for long-term growth, driven by the dual goals of energy resilience and climate neutrality,” said Ziauddin.

—Darrell Proctor is a senior editor for POWER.