The North America Nuclear Power Plant Equipment Market size was valued at USD 8,450 Million in 2025 and is expected to reach USD 14,220 Million by 2035, growing at a CAGR of 5.2% from 2024 to 2035. The market is driven by the region’s push towards clean energy and modernization of aging nuclear infrastructure, with new investments boosting technological upgrades across both equipment and safety systems.
The economic impact of tariffs on "North America Nuclear Power Plant Equipment Market".
Market Growth Drivers
Rising Investment in Nuclear Modernization: Key utilities in the U.S., such as Exelon Corporation, are increasingly investing in the modernization of nuclear plants to extend operational life and enhance safety protocols. Upgrades in control systems and reactor technologies are critical for efficient power generation and reduced outage rates, making them a major market driver.
Government Support and Policy Advocacy: Government initiatives supporting clean energy transition, including the Biden administration's focus on reducing carbon emissions, are fueling nuclear capacity expansion. Financial incentives and research grants in collaboration with industry leaders like Westinghouse Electric Company have expedited the deployment of advanced nuclear reactors across North America.
Market Trends
Expansion of Small Modular Reactors (SMRs): Companies such as NuScale Power are at the forefront of deploying small modular reactors in North America. SMRs promise lower capital costs and scalable deployment, which addresses both grid flexibility and energy security. Utilities are entering agreements to adopt SMR technology, indicating a strong trend in nuclear plant equipment upgrades.
Digitalization and Automation of Nuclear Facilities: Advanced digital technologies are being integrated into nuclear plant operations for better efficiency, predictive maintenance, and real-time monitoring. Firms like GE Hitachi Nuclear Energy are developing automation software and sensor arrays, spurring adoption of digital twins and cybersecurity solutions as plants modernize their control infrastructure.
Market Opportunities
Decommissioning and Upgradation Projects: With several aging reactors facing retirement, equipment companies such as BWX Technologies are tapping opportunities in decommissioning and equipment replacement, benefitting from stringent safety regulations and plant life extension projects.
Export and Technology Collaboration: Growing interest in exporting U.S. nuclear technology and equipment to Canada and Mexico, as seen in recent deals by Westinghouse, opens up new revenue channels for North American manufacturers.
North America Nuclear Power Plant Equipment Market Revenue (USD Million), 2020-2035
The market showed steady revenue growth from USD 6,700 Million in 2020 to USD 8,450 Million in 2025, driven by investments in plant modernization and new reactor deployment. Strong policy support and the adoption of advanced equipment are projected to push revenues further, reaching USD 14,220 Million by 2035. The chart highlights a consistent upward growth curve, especially post 2025 as more projects materialize and deferred upgrades are implemented. This reflects increasing demand for modern, automated, and efficient equipment across the region’s nuclear plants.
North America Nuclear Power Plant Equipment Market by Region Share (%), 2025
In 2025, the U.S. dominates the North American nuclear equipment market, accounting for 69% market share, thanks to its large reactor fleet and proactive upgrade strategies. Canada follows with 24%, supported by refurbishment initiatives in Ontario. Mexico, though a smaller market, holds 5%, while the rest of North America and others combined capture just 2% of the share. The pie chart shows U.S. market leadership, with Canada as the primary secondary market, highlighting regional focus on safety, modernization, and new builds.
Recent Developments
In March 2024, Westinghouse Electric Company announced the launch of its eVinci Microreactor in partnership with Saskatchewan Power Corporation. This new technology aims to provide remote communities in Canada and the northern United States with distributed, carbon-free energy, thus driving demand for advanced plant equipment tailored to innovative reactor designs.
In April 2024, General Electric (GE) Hitachi Nuclear Energy secured a contract extension with Ontario Power Generation for further upgrades at the Darlington Nuclear Generating Station. The contract includes the supply and installation of digital control equipment, improving operational efficiency and setting new safety benchmarks for North American nuclear facilities.
In February 2024, NuScale Power completed a pivotal certification milestone with the U.S. Nuclear Regulatory Commission (NRC) for its small modular reactor design. The certification opens the door for large-scale deployments and solidifies the company's collaboration with U.S. utilities, accelerating investments in SMR-compatible equipment and expanding market reach across the continent.
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)
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