Nuclear Power Plant Operation and Maintenance Market Outlook - Forecast Trends, Market Size, Share and Growth Analysis Report (2025-2034)

The global nuclear power plant operation and maintenance market was valued at USD 65.71 Billion in 2024. The industry is expected to grow at a CAGR of 4.70% during the forecast period of 2025-2034 to attain a valuation of USD 104.02 Billion by 2034.

Global Nuclear Power Plant Operation and Maintenance Market Growth

Currently, nuclear energy accounts for approximately 9% of the global electricity supply. In 2023, fourteen nations derived at least 25% of their electricity from nuclear sources. France relies on nuclear energy for nearly 70% of its electricity, while Ukraine, Slovakia, and Hungary obtain about half of their electricity from this source. Japan, which previously depended on nuclear power for over 25% of its electricity, is anticipated to return to a similar level soon. The increasing global demand for energy underscores the necessity for dependable and stable energy sources such as nuclear power, prompting greater investment in the operation and maintenance of nuclear facilities, leading to nuclear power plant operation and maintenance market expansion.

Advances in reactor technology and maintenance methodologies, along with remote monitoring systems, enhanced the efficiency and safety of the nuclear plants, enhancing the demand for sophisticated services in operation and maintenance. Stringent regulatory frameworks and safety protocols require consistent inspections, maintenance, and enhancements to guarantee the safe operation of nuclear facilities and adherence to compliance standards.

As per the nuclear power plant operation and maintenance market analysis, the establishment of new nuclear power plants and expansion initiatives in developing countries further amplifies the necessity for operational and maintenance expertise and services. Currently, Russia possesses the largest stockpile of nuclear weapons, estimated at 6,257 warheads, while the United States closely follows with a total of 5,550 nuclear weapons, thereby reflecting a robust market for nuclear power plant operation and maintenance facilities.

Key Trends and Developments

Ageing nuclear fleet, technological advancements, regulatory compliance, nuclear plant upgrades and refurbishments, rising government support, and expansion of nuclear power are the propelling the nuclear power plant operation and maintenance market growth.

June 2024

Fortum, a state-owned energy enterprise from Finland based in Espoo, successfully accomplished the dismantling of Finland's inaugural nuclear reactor, the FiR1 research reactor, which had been in operation for more than fifty years at the VTT facilities in Otaniemi.

Jan 2024

TN Americas, a part of Orano NPS (Nuclear Packages and Services), bagged a contract from Xcel Energy, an American utility company, to deliver onsite dry fuel storage solutions for the Monticello and Prairie Island nuclear power plants.

Ageing Nuclear Fleet

Numerous nuclear power facilities around the world are approaching the end of their operational lifespan, which typically spans several decades. As these facilities age, they require significant maintenance to ensure their continued safe operation.

Technological Advancements

Advancements in reactor technology, maintenance methodologies, and remote monitoring systems have led to substantial improvements in the efficiency and safety of power plants. These innovations not only enhance the operational capabilities of the facilities but also contribute to a more reliable energy supply, leading to the nuclear power plant operation and maintenance market development.

Regulatory Compliance

Strict regulatory and safety compliance on nuclear facilities seek maximal safety and security in operating such elaborate and potentially hazardous facilities. This implies that such facilities must be inspected regularly to confirm their compliance with established safety procedures and other rules governing their operation.

Nuclear Plant Upgrades and Refurbishments

Technological development, regulatory needs, and the challenge to continue with energy sources drive modernisation and upgrading efforts at existing nuclear facilities. As such, there is a rise for specific maintenance and operation service to be able to support these efforts.

Expansion of Nuclear Power

As per nuclear power plant operation and maintenance market analysis, the industry witnesses a strong surge in demand for new nuclear plants as well as the expansion of existing projects in the developing countries because of services in operation and maintenance. Regarding energy resource diversification, the world is striving today to diminish its fossil fuel-based energy pool by leaning towards nuclear power as the viable and renewable source.

Rising Government Support

Increased public sector and government entity support for nuclear energy is building an investment-friendly climate for the nuclear industry. This results from the fact that nuclear power is a reliable and constant source of energy, meaning that supporting energy security and mitigating climate change is supported.

Nuclear Power Plant Operation and Maintenance Market Trends

The goal of maintaining strict safety regulations and extending the life of current nuclear reactors is what propels the nuclear power plant operation and maintenance market growth. There is an increasing tendency toward modernisation and life extension initiatives as many nuclear power reactors near the end of their originally projected lifespans, necessitating sophisticated maintenance procedures. To increase plant efficiency and lower unplanned outages, this involves implementing predictive maintenance technology, such as artificial intelligence (AI) and data analytics, together with enhancements to safety systems. Decommissioning services are also in greater demand on the market, particularly in areas where older reactors are being deactivated. Innovation in O&M procedures is also being fuelled by a growing emphasis on sustainability and decreasing radioactive waste.

Global Nuclear Power Plant Operation and Maintenance Industry Segmentation

The EMR’s report titled “Global Nuclear Power Plant Operation and Maintenance Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Services:

• Configuration Management
• Equipment Reliability
• Work Management

Market Breakup by Reactor Type:

• Pressurised Water Reactor (PWR)
• Boiling Water reactor (BWR)
• Advanced gas-cooled reactor (AGR)
• Others

Market Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Nuclear Power Plant Operation and Maintenance Market Share

Based on the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Middle East and Africa region is projected to grow at a CAGR of 9.6% during the forecast period of 2025-2034. As the region allocates resources to enhance its nuclear energy capacity in response to increasing energy demands and the need to lower carbon emissions, it is crucial to ensure efficient operations and conduct regular maintenance. Asia Pacific follows this growth at a 5.9% CAGR.

Leading Companies in the Global Nuclear Power Plant Operation and Maintenance Market

Major players are focusing on the adoption of cutting-edge technologies to gain a competitive edge in the nuclear power plant operation and maintenance market.

Orano Group

Orano Group is a global leader in nuclear materials, specializing in the mining, conversion, enrichment, and recycling of nuclear fuel. The company was founded in 2017 and has its headquarters located in Chatillon, France. The business places a strong emphasis on nuclear energy innovation and sustainability.

Fortum Corporation

Based in Espoo, Finland, and founded in 1998, Fortum Corporation is primarily involved in the generation of clean energy, particularly nuclear power. As per nuclear power plant operation and maintenance market analysis, the corporation runs nuclear power facilities with a focus on producing electricity that is carbon neutral and sustainable for the Baltic and Nordic areas.

TÜV Rheinland

TÜV Rheinland is a global provider of technical services, including safety and quality certification for nuclear power plants, guaranteeing conformity with international standards and regulations. The company was founded in 1872 and has its headquarters in Cologne, Germany.

Rosatom Group

Rosatom Group is a state organization that specializes in nuclear energy. It was founded in 2007 and has its headquarters located in Moscow, Russia. It oversees the entire nuclear power cycle, which includes building, running, and closing nuclear generating facilities around the world.

Other players included in the nuclear power plant operation and maintenance market report are Holtec International, Veolia Group, Westinghouse Electric Company LLC., Dietsmann, and The Merric Group, Inc., among others.