Dublin, May 17, 2023 (GLOBE NEWSWIRE) -- The "Nuclear Fusion Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global nuclear fusion market is expected to grow from $296.40 billion in 2022 to $313.56 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The nuclear fusion market is expected to reach $395.14 billion in 2027 at a CAGR of 6.0%.
Increased government funding for nuclear energy is expected to propel the growth of the nuclear fusion market going forward. Nuclear energy is energy created by breaking atoms in a reactor to heat water into steam, operate a turbine, and generate electricity. Several governments of developed countries are funding nuclear reactors, which increases the demand for the nuclear fusion market.
For instance, in 2021, according to the International Energy Agency (IEA), a Paris-based autonomous intergovernmental organization, in the United States, 6 large-scale nuclear reactors came online and started operating with a combined capacity of 5.6 GW and, 2 reactors are expected to start operations by 2030 and would receive USD 3.2 billion in government funding.
Furthermore, France is funding a total of USD 1.08 billion(EUR 1 billion), and China, is undergoing some projects such as the HTR-PM units at Shidao Bay already grid-connected in 2021, and others under construction which has several advanced nuclear technologies under development. Therefore, increased government funding for nuclear energy is driving the growth of the nuclear fusion market.
Advancements in technologies have emerged as the key trend gaining popularity in the nuclear fusion market. Major companies operating in the nuclear fusion market are developing innovative technologies to strengthen their position in the market.
For instance, in June 2021, Zap Energy, a US-based company that commercializes fusion power created the first plasmas in FuZE-Q, a prototype device designed to achieve Q=1, where nuclear fusion inside plasma yields more energy than it consumes. This prototype shows the company's innovation of sheared-flow stabilization that continues to extend the lifetime of Z-pinch plasmas at 500 kiloamps (kA) of current. The technology used by the company is incredibly elegant and does not require any superconducting magnets and high-powered lasers.
In April 2021, SHINE Medical Technologies LLC, a US-based nuclear technology company operating in the nuclear fusion market, merged with Phoenix LLC, a US-based neutron-generating company for an undisclosed amount. With this merger, the long-term objective of both firms is to deliver on the promise of clean fusion energy through improving fusion technology, beginning with the commercialization of medical isotopes.
Europe was the largest region in the nuclear fusion market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the nuclear fusion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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Description:
Where is the largest and fastest growing market for nuclear fusion ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The nuclear fusion market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
1) By Technology: Inertial Confinement; Magnetic Confinement
2) By Fuels: Deuterium; Tritium; Helium-3; Proton Boron
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $313.56 billion |
| Forecasted Market Value (USD) by 2027 | $395.14 billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Nuclear Fusion Market Characteristics
3. Nuclear Fusion Market Trends And Strategies
4. Nuclear Fusion Market - Macro Economic Scenario
5. Nuclear Fusion Market Size And Growth
6. Nuclear Fusion Market Segmentation
7. Nuclear Fusion Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- TAE Technologies Inc.
- Zap Energy Inc.
- First Light Fusion Ltd.
- General Fusion
- Commonwealth Fusion Systems
- Tokamak Energy Ltd.
- Lockheed Martin Corp.
- HyperJet Fusion Corporation
- Marvel Fusion GmbH
- Helion Energy Inc.
- Southern Company
- NuScale Power LLC
- Phoenix LLC
- Helion Energy Inc.
- Brilliant Light Power Inc.
For more information about this report visit https://www.researchandmarkets.com/r/vc8od2
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