$24.6bn
$X.Xbn
18,069
4
$XXX.Xm
The emerging Nuclear Power industry in China has been developing quickly and steadily. Industry revenue is expected to grow at an annualized 9.1% over the five years through 2023, to $24.6 billion. This includes an anticipated 7.0% increase in the current year. The government's strategy for developing alternative energy in China has had a positive impact on the industry. Additional drivers for industry growth have been power shortage in coastal regions, the maturity of China's third-generation nuclear power technology, the constant increasing installed capacity of nuclear power.Considering safety, new nuclear power projects require approval from the State Council and licensed operation. As of 2023, only four central state-owned companies have obtained licenses to develop and operate nuclear power plants in China. The two major companies, CGN Power and CNNC, are expected to contribute over 95.0% of total industry revenue in the current year. As of 2022, there were 55 nuclear power units in operation in China, with a total installed capacity of 57.0 million kilowatts, and 21 nuclear power units under construction, with a total installed capacity of 24.1 million kilowatts. From 2018 to 2023, the total power generation of nuclear power units will increase at an average rate of 8.5%, to 442.4 billion kilowatt-hours. Nuclear power as a share of total power generation in China will rise from 4.1% to 4.6%.As China aims to have CO2 emissions peak before 2030 and achieve carbon neutrality before 2060, the Government will continue to support the development of the industry. Industry revenue is forecast to grow at an annualized 11.0% over the five years through 2028, to $41.4 billion. As nuclear power technology matures, the energy efficiency of the nuclear power plants is anticipated to improve, ensuring that the industry's profitability remains high.
Industry revenue has grown at a CAGR of 9.1 % over the past five years, to reach an estimated $24.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
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There are no companies that hold a large enough market share in the Nuclear Power in China industry for IBISWorld to include in this product.
Nuclear Power in China
Industry revenue is measured across several distinct product and services lines, including Nuclear power generated by pressurized water reactors, Nuclear power generated by pressurized heavy water reactors and Nuclear power generated by high-temperature gas-cooled reactors. Nuclear power generated by pressurized water reactors is the largest segment of the Nuclear Power in China.
Pressurized water reactor is the technological route of China's nuclear power technology
The Nuclear Power industry in China is composed of state-controlled nuclear power plants that employ nuclear fission to generate heat, which is then converted to electricity. Nuclear power plants then provide this electricity to transmission systems or electric power distribution systems.
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Nuclear power installed capacity has been expanded. As of 2022, there were 55 nuclear power units in operation and 21 nuclear power units under construction in China, with in...
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Pressurized water reactors represent the mainstream technology. The Chinese Government has established pressurized water reactor as the development direction and technologica...
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The site selection of nuclear power plants is highly demanding. The site selection of nuclear power plants is necessary to comprehensively consider factors like regional elec...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Industry concentration level is high. The industry was dominated by two companies, CGN Power and CNNP, with a joint market share of 95.3% in 2023.
Learn about the performance of the top companies in the industry.
Only four companies obtain licenses. The industry is heavily regulated by the Chinese government. As of 2023, only four companies have obtained licenses to develop and operat...
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The industry is heavily regulated. Safety is the most important factor that needs to be considered in the design, construction, and operation of nuclear power plants. Consequ...
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Depreciation is the largest cost item. Nuclear power plants invest heavily in fixed assets and equipment, which result in high depreciation costs.
Including values and annual change:
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Key data sources in China include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Nuclear Power industry in China is $24.6bn in 2024.
There are 4 businesses in the Nuclear Power industry in China, which has grown at a CAGR of 5.9 % between 2019 and 2024.
The market size of the Nuclear Power industry in China has been growing at a CAGR of 9.1 % between 2019 and 2024.
Over the next five years, the Nuclear Power industry in China is expected to grow.
Nuclear power generated by pressurized water reactors and Nuclear power generated by pressurized heavy water reactors are part of the Nuclear Power industry.
The level of competition is low and increasing in the Nuclear Power industry in China.