May 11, 2023

Incorrys forecasts power produced by nuclear reactors will increase 32% from over 2600 TWh in 2022 to almost 3500 TWh in 2030.

China sees the largest growth more than doubling from under 500 TWh in 2022 to over 1000 TWh in 2030. Korea is second in growth rate – up 36% from 150 TWh to over 200 TWh.

2030 Market Share of Nuclear Power Production

Most of the growth will come from China (Incorrys expects increases in production of at least +10% annually, but notes that it could reach 30%/year depending on construction activities and speed of new projects).

France, Russia, and the US will increase production by only 1-2% each year due to limited construction activities.

Korea will likely see a growth rate of 4%/year as they plan to start the commissioning of its new facilities shortly (2023-2024).

In 2030, the country rankings of power production will have changed with China taking over 1st place at 30% of the total followed by the US (24%) and France (9%).