2025 Global Nuclear Market Highlights
The year 2025 marked a defining moment for the global nuclear sector, as geopolitical pressures, escalating digital electricity demand, strengthened climate commitments, and emerging investment strategies converged to accelerate nuclear deployment worldwide. What was once considered a slow-moving energy segment is now advancing at unprecedented speed, driven by the need for energy security, reliable baseload power, and low-carbon electricity capable of supporting rapidly growing artificial intelligence infrastructure and hyperscale data centres.
The momentum is reinforced by long-term forecasts. According to the International Atomic Energy Agency (IAEA), global nuclear power capacity could double by 2050, reaching between 561 GW(e) under the low case and 992 GW(e) under the high case scenario—signalling one of the strongest growth trajectories in the industry’s modern history.
Policy frameworks are shifting as nations previously phasing out nuclear reconsider their positions, while first-time adopters move closer to deployment. At the same time, advancements in Small Modular Reactors (SMRs), next-generation fuel cycles, and financing models are accelerating market readiness and reshaping commercial dynamics.
This report presents ten of the most significant developments in 2025—and the strategic opportunities they unlock for governments, utilities, investors, and industry stakeholders.
1. AI, Data Center Demand, and the Acceleration of Nuclear Baseload
In 2025, AI compute demand became the strongest commercial driver for nuclear energy, reshaping grid planning and investment priorities. Unlike historical consumption patterns, AI workloads require continuous, high-density baseload power, with single training clusters demanding up to 100 MW—equivalent to powering 80,000 homes. This requirement is emerging as a non-negotiable infrastructure criterion. Global spending on AI-oriented data center infrastructure is projected to reach $5.2–7 trillion by 2030, creating one of this century’s largest industrial buildouts.
This shift translated into formal nuclear PPAs. The restart of Three Mile Island Unit 1 (now Crane Clean Energy Center) advanced under a $1 billion federal loan, securing a 20-year Microsoft supply contract for 835 MW. Additional milestones included Tennessee Valley Authority (TVA)’s 50 MW agreement with Kairos Power to supply Google data centers, and plans by Amazon, Energy Northwest, and X-energy to deploy up to 12 SMRs near Columbia Generating Station.
2. Global Progress in Small and Micro Modular Reactors (SMRs/MMRs)
2025 marked the shift of SMRs from conceptual design into real deployment planning, driven by faster regulatory action and strong financial backing. The UK took a major step by selecting Wylfa as the site for three Rolls-Royce SMRs, providing long-awaited deployment certainty.
Regulatory acceleration was also clear in North America. The Tennessee Valley Authority (TVA) became the first utility to submit a construction permit for an SMR, while the Nuclear Regulatory Commission (NRC) expedited approval of NuScale’s second reactor design and committed to an aggressive 18-month review timeline for X-energy’s SMR project with Dow.
To support commercialization, the U.S. Department of Energy (DOE) allocated $100 million under “Tier 2: Fast Follower Deployment Support.” Globally, Japan committed $430 million (2024–2025) toward next-generation High-Temperature Reactors (HTRs), and India advanced its position with Bhabha Atomic Research Centre (BARC)’s diversified SMR portfolio, including the 200 MWe BSMR, a 50 MWe design, and a 5 MWt HTGCR for industrial heat and hydrogen.
3. Digitalization and Advanced Tools Reshaping Nuclear Development
A defining theme of 2025 has been the growing priority placed on digital innovation to accelerate reactor deployment and modernize nuclear engineering workflows. One of the most notable advancements came from the U.S. DOE’s Argonne National Laboratory, where four projects secured Technology Commercialization Fund support—including OpenMC, an open-source Monte Carlo (MC) code tailored to fast reactor physics. Its commercialization is expected to reduce licensing friction, lower design costs, and significantly shorten development cycles.
Regulatory modernization also advanced meaningfully. The approval of Purdue University Reactor Number One (PUR-1) as the first fully digital instrumentation and control system in the United States established a new operational benchmark. As industrial offtakers increasingly require uninterrupted reliability and automation-driven efficiency, companies leveraging digital instrumentation and control (I&C), intelligent software, and advanced automation are now positioned to lead in commercial deployment readiness and long-term operational performance.
4. The Nuclear Financing Landscape: MDB Shifts and Market Normalization
2025 became the year nuclear financing entered the global mainstream, driven by historic policy shifts across major multilateral development banks. The most transformative milestone occurred on June 11, 2025, when the World Bank lifted its long-standing prohibition on nuclear project financing. Championed by President Ajay Banga and backed by the U.S. administration, the updated policy now explicitly supports SMR deployment, reactor life-extension programs, and essential grid modernization. This shift was strengthened by a landmark World Bank–IAEA cooperation agreement, positioning nuclear energy as aligned with global sustainability criteria and easing hesitation among institutional investors.
Parallel momentum grew in Asia. The Asian Development Bank advanced its review of the 2021 Energy Policy, culminating in a final draft now awaiting board action. A decisive turning point came when ADB President Masato Kanda publicly affirmed the bank’s readiness to finance nuclear—framing it as a credible pathway to move beyond coal and gas while ensuring safety, trust, and investability.
5. Strategic National Policies and Commercial Implications
In 2025, strategic policy decisions by major nuclear nations reshaped global competitiveness, investment flows, and deployment momentum. The United States set the pace with a series of May 2025 Executive Orders committing to quadruple national nuclear capacity to 400 GW. These directives prioritized federal loans and loan guarantees for restarts such as TMI-1, alongside uprating existing reactors to boost output, signaling a decisive market shift toward scale and speed.
Europe also solidified long-term direction. France confirmed the removal of the 2015 requirement to cut nuclear generation to 50% by 2035, instead directing EDF to advance plans for six new reactors, with the first unit now expected by 2038. Meanwhile, Canada accelerated early deployment economics with the retroactive rollout of a 30% Clean Technology Investment Tax Credit applying to both SMR and AMR projects.
State-owned entities continued shaping global market dynamics. Rosatom expanded engagement across 29 emerging economies, with 25 VVER units slated for grid connection before 2030, while China advanced domestic self-sufficiency and global export positioning through bundled EPC, financing, and fuel supply offerings.
6. The ASEAN Region’s Emerging Nuclear Market
Southeast Asia transitioned from policy exploration to active nuclear program execution in 2025, solidifying its role as one of the world’s fastest-advancing future nuclear markets. With a population nearing 700 million and ambitious Net Zero Emissions goals, the region now targets 8.5 GW of nuclear capacity by 2037, backed by an estimated $84.15 billion in initial investment. SMRs are emerging as the preferred technology given ASEAN’s fragmented geography, variable grid sizes, and need for scalable, lower-risk deployment models.
Indonesia delivered the clearest policy shift by formally adding nuclear power to the Electricity Supply Business Plan (RUPTL) 2025–2034, setting a 500 MW SMR rollout across Sumatra and Kalimantan no later than 2034. The Philippines aims for its first reactors by 2032, expanding from 1,200 MW to 4,800 MW by 2050. In Vietnam, Power Development Plan 8 (PDP8) confirmed 4–6.4 GW by 2030–2035, supported by newly released contingency funds for Ninh Thuan.
Geopolitical engagement also intensified. In October 2025, Rosatom signed an MoU with the ASEAN Centre for Energy, institutionalizing cooperation in technology transfer, capacity building, and infrastructure support—signaling a highly competitive supplier landscape ahead.
7. Africa’s Accelerating Nuclear Expansion
Africa entered 2025 with decisive progress in nuclear deployment, positioning the continent as one of the most promising future markets—provided financing frameworks continue to evolve. Multiple national programs advanced meaningfully throughout the year. A leading example is Egypt’s El-Dabaa nuclear power project, Rosatom’s flagship development on the continent. This year, Rosatom and the Egyptian government finalised both a comprehensive cooperation framework and the official fuel supply agreement for the 4.8 GW facility. Construction remains on schedule, with the first reactor expected to begin operations in 2028, marking a milestone not only for Egypt but for Africa’s broader nuclear future.
South Africa strengthened investor confidence through the Integrated Resource Plan (IRP) 2025, formally adopted in October by Minister Dr. Kgosientsho Ramokgopa. The plan mandates 5,200 MW of new nuclear capacity by 2039, including the first 1,200 MW by 2036, while reviving the Pebble Bed Modular Reactor (PBMR) program under Necsa to support domestic deployment and regional export.
Progress extended across the continent: Ethiopia confirmed plans for 2 × 1,200 MW reactors (commissioning between 2032–2034), Kenya set an initial target of 1,000 MW with long-term ambitions exceeding 20,000 MW by 2040, and Niger advanced plans for 2 × 1,000 MW PWRs by 2032.
Diplomatically, momentum accelerated when Rwanda and Senegal joined the Declaration to Triple Nuclear Energy Capacity by 2050 during COP30 in Belém, Brazil. Updated analysis from the Nuclear Business Platform (NBP) projects Africa could deploy 15 GW by 2035, reflecting a commercial opportunity exceeding $105 billion across construction, supply chains, skills development, regulation, and long-term operations.
8. Countries Reconsidering or Re-Entering Nuclear Energy
Momentum toward reversing nuclear phase-outs strengthened considerably in 2025, driven by energy security pressures, rising electricity demand, and the economic impracticality of relying solely on renewables. A major milestone came in May 2025, when Belgium’s parliament voted overwhelmingly to repeal the 2003 nuclear phase-out law, paving the way to extend the operating licences of Doel 4 and Tihange 3 to 2045 and clear the path for new reactor construction.
In Southeast Europe, Greece initiated a dramatic policy reversal. In June 2025, the Prime Minister announced the nation must prepare to join the nuclear alliance as part of its green transition. The announcement, surprising given the absence of previous nuclear infrastructure, immediately attracted global industry attention, leading to high-level discussions in Athens in November 2025 on the feasibility of Floating Nuclear Power Plants (FNPPs).
Elsewhere, Italy advanced its re-entry, with the Council of Ministers approving a bill empowering the government to regulate and reintroduce “sustainable” nuclear power aligned with European decarbonisation goals and long-term energy security priorities.
9. Innovations in Nuclear Fuel Technologies
Innovation in nuclear fuel technologies gained strong momentum in 2025, driven by increased government involvement to de-risk the advanced fuel supply chain and accelerate commercial deployment of next-generation reactors. At the core of this shift is High-Assay Low-Enriched Uranium (HALEU), essential for enabling the efficiency, compact scale, and extended operating cycles that define modern reactor designs. Unlike conventional reactor fuel enriched to 3–5% U-235, Small Modular Reactors require enrichment between 5% and 19.75%, marking a major departure from traditional fuel strategies.
Across the industry, major programmes advanced HALEU readiness. TerraPower’s 345 MW Natrium demonstration plant continued establishing practical pathways for large-scale fuel supply. NuScale Power progressed with its SMR platform using 4.95% enriched fuel in multi-reactor modules. Meanwhile, X-energy’s Xe-100 advanced TRISO-based fuel, and Kairos Power’s KP-FHR refined fuel compatible with fluoride-salt-cooled systems.
In parallel, Enhanced Accident Tolerant Fuels entered a decisive adoption phase. With the European Union requiring ATF deployment from 2025 onward, global markets now face accelerated demand for specialised manufacturing, advanced cladding materials, and higher enrichment feedstock—making fuel innovation a key commercial frontier of the year.
10. Uranium Market and Supply-Chain Developments
Uranium remained at the centre of global energy security discussions in 2025, reflecting its role as the essential fuel powering more than 440 reactors operating across 32 countries. Annual global consumption sits between 160 and 170 million pounds, yet production remains heavily concentrated. Kazakhstan, Canada, and Australia collectively account for nearly 70% of global supply, creating a structurally imbalanced market vulnerable to geopolitical and logistical pressures.
With nuclear energy expanding rapidly as part of net-zero and electrification strategies—including rising demand from AI-driven infrastructure and data centre requirements—the market is now signaling long-term tightness. Analysts warn the ongoing nuclear renaissance could trigger a supply shortfall, as current mining output is expected to halve by 2030 unless significant new investment and exploration are mobilised. The result is a renewed commercial focus on mining expansion, strategic stockpiling, and diversification of supply chains.
Moving Forward
The global nuclear sector in 2025 has demonstrated not only resilience but also remarkable commercial momentum, signaling a transformative phase for energy markets and investors alike. With AI-driven data centers, industrial electrification, and climate commitments driving unprecedented demand for reliable baseload power, nuclear energy is now positioned as a central pillar of future energy security. The emergence of SMRs, advanced fuel technologies, and digitalized plant operations is creating new business models, reducing risk, and shortening project timelines, making investment more predictable and scalable.
For business leaders, the lessons are clear: early engagement with policy frameworks, strategic partnerships, and technology innovators will define competitive advantage in the coming decade. Regions such as Southeast Asia and Africa offer particularly compelling market entry points, supported by strong government commitments and substantial financing potential. As global nuclear capacity is projected to double by 2050, the coming years present a window for visionary investors to secure footholds in an industry set for exponential growth and long-term commercial sustainability.
